Gogo Inc. $GOGO Position Trimmed by Royce & Associates LP

Royce & Associates LP trimmed its holdings in shares of Gogo Inc. (NASDAQ:GOGO) by 85.8% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 88,640 shares of the technology company’s stock after selling 534,323 shares during the period. Royce & Associates LP’s holdings in Gogo were worth $413,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. State of Wyoming bought a new stake in Gogo during the third quarter worth approximately $32,000. Quarry LP boosted its stake in Gogo by 86.1% in the 3rd quarter. Quarry LP now owns 7,171 shares of the technology company’s stock worth $62,000 after purchasing an additional 3,318 shares during the period. Tower Research Capital LLC TRC boosted its stake in Gogo by 300.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 8,163 shares of the technology company’s stock worth $120,000 after purchasing an additional 6,123 shares during the period. Focus Partners Wealth acquired a new position in Gogo in the 3rd quarter worth approximately $72,000. Finally, Versor Investments LP acquired a new position in Gogo in the 3rd quarter worth approximately $86,000. 69.60% of the stock is currently owned by institutional investors.

Insider Transactions at Gogo

In related news, Director Charles C. Townsend bought 158,591 shares of the business’s stock in a transaction on Thursday, March 12th. The stock was bought at an average price of $4.57 per share, for a total transaction of $724,760.87. Following the transaction, the director directly owned 418,686 shares in the company, valued at $1,913,395.02. This represents a 60.97% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 25.60% of the stock is currently owned by insiders.

Gogo Stock Performance

Gogo stock opened at $4.57 on Monday. The company has a 50 day moving average price of $4.33 and a 200 day moving average price of $4.87. Gogo Inc. has a 52 week low of $3.81 and a 52 week high of $16.82. The company has a debt-to-equity ratio of 6.89, a quick ratio of 1.27 and a current ratio of 1.66. The firm has a market capitalization of $618.05 million, a price-to-earnings ratio of 41.55 and a beta of 1.09.

Gogo (NASDAQ:GOGO) last released its earnings results on Friday, February 27th. The technology company reported ($0.07) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.09). Gogo had a return on equity of 37.53% and a net margin of 1.54%.The company had revenue of $230.56 million during the quarter, compared to analysts’ expectations of $222.65 million. During the same quarter in the previous year, the company earned ($0.22) EPS. The firm’s quarterly revenue was up 67.3% compared to the same quarter last year. Research analysts forecast that Gogo Inc. will post 0.28 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Roth Mkm set a $12.00 price objective on shares of Gogo in a research note on Thursday, May 7th. Weiss Ratings raised shares of Gogo from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. Finally, Morgan Stanley decreased their price objective on shares of Gogo from $8.00 to $7.00 and set an “equal weight” rating for the company in a research note on Thursday, May 21st. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $9.50.

Gogo Company Profile

Gogo Inc is a leading provider of in-flight connectivity and entertainment solutions for commercial and business aviation. The company specializes in delivering broadband internet, voice and text services, and streaming entertainment to passengers at 35,000 feet. Gogo’s offerings include both air-to-ground (ATG) networks and satellite-based connectivity, enabling reliable in-flight internet access across a range of aircraft types.

Gogo’s ATG network spans the United States and portions of Canada, using ground towers to transmit data signals directly to equipped aircraft.