Raymond James & Associates reduced its position in shares of Gogo Inc. (NASDAQ:GOGO – Get Rating) by 3.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 102,253 shares of the technology company's stock after selling 3,241 shares during the quarter. Raymond James & Associates owned about 0.08% of Gogo worth $1,239,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Louisiana State Employees Retirement System bought a new stake in Gogo during the 3rd quarter worth about $381,000. Chicago Capital LLC grew its holdings in Gogo by 33.3% during the 3rd quarter. Chicago Capital LLC now owns 21,430 shares of the technology company's stock worth $260,000 after acquiring an additional 5,354 shares during the period. Exchange Traded Concepts LLC grew its holdings in Gogo by 55.1% during the 3rd quarter. Exchange Traded Concepts LLC now owns 5,966 shares of the technology company's stock worth $72,000 after acquiring an additional 2,120 shares during the period. Everence Capital Management Inc. acquired a new stake in Gogo during the 3rd quarter worth $167,000. Finally, Legal & General Group Plc boosted its holdings in Gogo by 632.7% during the second quarter. Legal & General Group Plc now owns 155,602 shares of the technology company's stock worth $2,519,000 after buying an additional 134,365 shares during the last quarter. 64.41% of the stock is owned by institutional investors.
Get Gogo alerts:Analyst Ratings Changes
A number of equities analysts have issued reports on GOGO shares. StockNews.com cut Gogo from a "hold" rating to a "sell" rating in a report on Friday, January 13th. Morgan Stanley upgraded shares of Gogo from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $14.00 to $15.00 in a report on Tuesday, November 1st.
Gogo Price Performance
Shares of Gogo stock opened at $16.64 on Friday. The company has a market capitalization of $2.12 billion, a P/E ratio of 7.92 and a beta of 1.25. Gogo Inc. has a 1 year low of $11.57 and a 1 year high of $23.69. The business has a 50-day moving average of $15.44 and a two-hundred day moving average of $14.92.Gogo (NASDAQ:GOGO – Get Rating) last released its quarterly earnings results on Thursday, November 3rd. The technology company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.01. The company had revenue of $105.32 million during the quarter, compared to analysts' expectations of $101.89 million. Gogo had a net margin of 72.93% and a negative return on equity of 39.26%. On average, equities analysts anticipate that Gogo Inc. will post 0.62 EPS for the current fiscal year.
Gogo 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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