Silvercrest Asset Management Group LLC Buys Shares of 1,748,650 Gogo Inc. (NASDAQ:GOGO)

Silvercrest Asset Management Group LLC bought a new stake in Gogo Inc. (NASDAQ:GOGO) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,748,650 shares of the technology company’s stock, valued at approximately $14,147,000.

Other large investors have also recently bought and sold shares of the company. ProShare Advisors LLC increased its position in shares of Gogo by 44.7% during the fourth quarter. ProShare Advisors LLC now owns 19,410 shares of the technology company’s stock worth $157,000 after acquiring an additional 5,996 shares in the last quarter. Nuveen Asset Management LLC increased its position in shares of Gogo by 0.6% during the fourth quarter. Nuveen Asset Management LLC now owns 223,317 shares of the technology company’s stock worth $1,807,000 after acquiring an additional 1,373 shares in the last quarter. Numerai GP LLC increased its position in shares of Gogo by 165.4% during the fourth quarter. Numerai GP LLC now owns 116,665 shares of the technology company’s stock worth $944,000 after acquiring an additional 72,709 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Gogo by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,863 shares of the technology company’s stock worth $298,000 after acquiring an additional 1,273 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new stake in shares of Gogo during the fourth quarter worth $43,000. Institutional investors own 69.60% of the company’s stock.

Wall Street Analysts Forecast Growth

GOGO has been the subject of several research reports. StockNews.com raised shares of Gogo from a “sell” rating to a “hold” rating in a research report on Monday, May 12th. Roth Mkm lowered their price objective on shares of Gogo from $15.50 to $13.00 and set a “buy” rating for the company in a research report on Monday, March 17th.

Insider Buying and Selling at Gogo

In related news, Director Oakleigh Thorne acquired 30,173 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were bought at an average cost of $6.57 per share, with a total value of $198,236.61. Following the completion of the transaction, the director now directly owns 711,341 shares of the company’s stock, valued at $4,673,510.37. This trade represents a 4.43% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 25.78% of the company’s stock.

Gogo Stock Performance

Shares of GOGO opened at $12.56 on Friday. Gogo Inc. has a 12 month low of $6.17 and a 12 month high of $12.90. The firm has a fifty day simple moving average of $8.05 and a 200 day simple moving average of $7.90. The stock has a market capitalization of $1.66 billion, a price-to-earnings ratio of 29.21 and a beta of 0.93. The company has a current ratio of 3.58, a quick ratio of 2.81 and a debt-to-equity ratio of 11.07.

Gogo (NASDAQ:GOGO) last announced its earnings results on Friday, May 9th. The technology company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.05 by $0.13. The business had revenue of $230.31 million during the quarter, compared to analysts’ expectations of $214.93 million. Gogo had a net margin of 13.94% and a return on equity of 121.96%. The firm’s revenue was up 120.8% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.23 earnings per share. Research analysts forecast that Gogo Inc. will post 0.41 EPS for the current fiscal year.

Gogo Company Profile

Gogo Inc, together with its subsidiaries, provides broadband connectivity services to the aviation industry in the United States and internationally. The company's product platform includes networks, antennas, and airborne equipment and software. It offers in-flight systems; in-flight services; aviation partner support; and engineering, design, and development services, as well as production operations functions.