Louisiana State Employees Retirement System purchased a new stake in Gogo Inc. (NASDAQ:GOGO – Get Rating) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 31,400 shares of the technology company's stock, valued at approximately $381,000.
Several other hedge funds have also made changes to their positions in the company. State Street Corp grew its stake in shares of Gogo by 74.2% in the 2nd quarter. State Street Corp now owns 2,205,326 shares of the technology company's stock valued at $35,704,000 after buying an additional 939,632 shares during the period. Capco Asset Management LLC grew its stake in shares of Gogo by 2.3% in the 2nd quarter. Capco Asset Management LLC now owns 1,286,829 shares of the technology company's stock valued at $20,834,000 after buying an additional 29,337 shares during the period. Renaissance Technologies LLC grew its stake in shares of Gogo by 43.9% in the 2nd quarter. Renaissance Technologies LLC now owns 903,401 shares of the technology company's stock valued at $14,626,000 after buying an additional 275,501 shares during the period. Sycale Advisors NY LLC grew its stake in shares of Gogo by 298.8% in the 2nd quarter. Sycale Advisors NY LLC now owns 714,030 shares of the technology company's stock valued at $11,560,000 after buying an additional 534,996 shares during the period. Finally, Penn Capital Management Company LLC grew its stake in shares of Gogo by 26.6% in the 1st quarter. Penn Capital Management Company LLC now owns 623,249 shares of the technology company's stock valued at $8,600,000 after buying an additional 131,019 shares during the period. Hedge funds and other institutional investors own 64.41% of the company's stock.
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Wall Street Analysts Forecast Growth
Several analysts have recently weighed in on GOGO shares. StockNews.com raised shares of Gogo from a "sell" rating to a "hold" rating in a research note on Thursday, January 5th. Morgan Stanley raised shares of Gogo from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $14.00 to $15.00 in a research report on Tuesday, November 1st.
Gogo Stock Performance
NASDAQ:GOGO opened at $16.04 on Thursday. The stock has a market capitalization of $2.04 billion, a P/E ratio of 7.64 and a beta of 1.25. The company has a 50 day moving average price of $15.23 and a 200 day moving average price of $14.90. Gogo Inc. has a fifty-two week low of $11.57 and a fifty-two week high of $23.69.
Gogo (NASDAQ:GOGO – Get Rating) last released its earnings results on Thursday, November 3rd. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.14 by $0.01. The company had revenue of $105.32 million for the quarter, compared to analyst estimates of $101.89 million. Gogo had a net margin of 72.93% and a negative return on equity of 39.26%. Research analysts forecast that Gogo Inc. will post 0.62 earnings per share for the current fiscal year.
Gogo Company Profile
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Gogo Inc, through its subsidiaries, provides broadband connectivity services to the aviation industry in the United States and internationally. It operates through Commercial Aviation North America (CA-NA), Commercial Aviation Rest of World (CA-ROW), and Business Aviation (BA) segments. The company design, build and operate air-to-ground networks, engineer and maintain in-flight systems of proprietary hardware and software, and deliver customizable connectivity and wireless entertainment services.
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