Comerica Bank bought a new position in Gogo Inc. (NASDAQ:GOGO – Get Rating) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 58,105 shares of the technology company's stock, valued at approximately $897,000. Comerica Bank owned about 0.05% of Gogo at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the business. Blueshift Asset Management LLC boosted its position in Gogo by 7.2% during the 1st quarter. Blueshift Asset Management LLC now owns 62,446 shares of the technology company's stock valued at $1,190,000 after acquiring an additional 4,193 shares in the last quarter. O Dell Group LLC bought a new stake in Gogo during the 1st quarter valued at approximately $76,000. Collaborative Holdings Management LP bought a new stake in Gogo during the 1st quarter valued at approximately $1,754,000. Aviance Capital Partners LLC bought a new stake in Gogo during the 1st quarter valued at approximately $229,000. Finally, Jackson Creek Investment Advisors LLC boosted its position in Gogo by 2.1% during the 1st quarter. Jackson Creek Investment Advisors LLC now owns 66,275 shares of the technology company's stock valued at $1,263,000 after acquiring an additional 1,380 shares in the last quarter. 88.14% of the stock is owned by institutional investors.
Get Gogo alerts:Analyst Ratings Changes
Several research firms have weighed in on GOGO. Morgan Stanley raised Gogo from an "underweight" rating to an "equal weight" rating and lifted their price objective for the company from $14.00 to $15.00 in a research report on Tuesday. Cowen boosted their price target on Gogo to $26.00 in a research report on Monday, August 15th. Finally, StockNews.com cut Gogo from a "hold" rating to a "sell" rating in a research report on Friday.
Gogo Stock Down 1.0 %
Shares of NASDAQ GOGO opened at $14.85 on Friday. Gogo Inc. has a twelve month low of $11.57 and a twelve month high of $23.69. The firm has a market cap of $1.91 billion, a P/E ratio of 7.32 and a beta of 1.25. The company has a 50 day moving average of $13.26 and a 200 day moving average of $16.11.Gogo (NASDAQ:GOGO – Get Rating) last announced its quarterly earnings data on Friday, August 5th. The technology company reported $0.17 earnings per share for the quarter, topping analysts' consensus estimates of $0.15 by $0.02. Gogo had a net margin of 74.01% and a negative return on equity of 26.15%. The company had revenue of $97.84 million during the quarter, compared to analyst estimates of $95.26 million. As a group, equities analysts expect 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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