Gogo Inc (GOGO) Shares Bought by Bank of America Corp DE

Bank of America Corp DE increased its holdings in Gogo Inc (NASDAQ:GOGO) by 4.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,715,165 shares of the technology company’s stock after acquiring an additional 70,154 shares during the quarter. Bank of America Corp DE owned about 1.96% of Gogo worth $8,336,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also made changes to their positions in GOGO. CIBC Private Wealth Group LLC raised its holdings in Gogo by 57.1% in the second quarter. CIBC Private Wealth Group LLC now owns 55,000 shares of the technology company’s stock worth $267,000 after purchasing an additional 20,000 shares in the last quarter. Teton Advisors Inc. bought a new position in Gogo in the second quarter worth $292,000. Engineers Gate Manager LP raised its holdings in Gogo by 34.8% in the second quarter. Engineers Gate Manager LP now owns 132,288 shares of the technology company’s stock worth $643,000 after purchasing an additional 34,147 shares in the last quarter. Arthur M. Cohen & Associates LLC raised its holdings in Gogo by 52.8% in the second quarter. Arthur M. Cohen & Associates LLC now owns 159,161 shares of the technology company’s stock worth $774,000 after purchasing an additional 55,000 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in Gogo by 49.6% in the second quarter. Russell Investments Group Ltd. now owns 179,226 shares of the technology company’s stock worth $871,000 after purchasing an additional 59,441 shares in the last quarter. 67.61% of the stock is owned by institutional investors.

GOGO opened at $6.00 on Friday. Gogo Inc has a 12-month low of $3.52 and a 12-month high of $11.75. The company has a quick ratio of 1.43, a current ratio of 2.01 and a debt-to-equity ratio of -4.44. The firm has a market capitalization of $541.58 million, a price-to-earnings ratio of -2.76 and a beta of 1.14.

Gogo (NASDAQ:GOGO) last issued its quarterly earnings results on Wednesday, August 8th. The technology company reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.74) by $0.27. The company had revenue of $227.50 million for the quarter, compared to the consensus estimate of $207.64 million. During the same quarter in the previous year, the business earned ($0.56) earnings per share. Gogo’s revenue was up 31.7% compared to the same quarter last year. On average, equities analysts predict that Gogo Inc will post -2.16 earnings per share for the current year.

GOGO has been the subject of a number of research reports. BidaskClub upgraded Gogo from a “hold” rating to a “buy” rating in a report on Saturday, October 6th. ValuEngine upgraded Gogo from a “sell” rating to a “hold” rating in a report on Tuesday, June 26th. Zacks Investment Research upgraded Gogo from a “sell” rating to a “hold” rating in a report on Tuesday, August 7th. Raymond James downgraded Gogo from an “outperform” rating to a “market perform” rating and set a $15.00 price objective for the company. in a report on Tuesday, July 24th. Finally, William Blair downgraded Gogo from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 17th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. Gogo has an average rating of “Hold” and an average price target of $8.38.

Gogo Profile

Gogo Inc, through its subsidiaries, provides inflight broadband connectivity and wireless entertainment services to the aviation industry in the United States and internationally. It operates through three segments: Commercial Aviation North America (CA-NA), Commercial Aviation Rest of World (CA-ROW), and Business Aviation (BA).

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Institutional Ownership by Quarter for Gogo (NASDAQ:GOGO)

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