Gogo Inc. (NASDAQ:GOGO) Shares Sold by Laurus Investment Counsel Inc.

Laurus Investment Counsel Inc. lessened its holdings in shares of Gogo Inc. (NASDAQ:GOGO) by 3.2% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 206,550 shares of the technology company’s stock after selling 6,910 shares during the period. Gogo accounts for approximately 1.0% of Laurus Investment Counsel Inc.’s investment portfolio, making the stock its 26th biggest holding. Laurus Investment Counsel Inc. owned approximately 0.16% of Gogo worth $2,092,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in GOGO. Belpointe Asset Management LLC acquired a new stake in shares of Gogo during the 1st quarter worth about $29,000. Pinebridge Investments L.P. purchased a new position in Gogo during the 2nd quarter worth approximately $31,000. Royal Bank of Canada grew its stake in Gogo by 76.6% during the 3rd quarter. Royal Bank of Canada now owns 3,069 shares of the technology company’s stock worth $37,000 after buying an additional 1,331 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Gogo by 432.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,609 shares of the technology company’s stock worth $39,000 after buying an additional 2,119 shares during the last quarter. Finally, Great West Life Assurance Co. Can grew its stake in Gogo by 41.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 2,178 shares of the technology company’s stock worth $44,000 after buying an additional 633 shares during the last quarter. Institutional investors and hedge funds own 69.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Roth Mkm dropped their price target on Gogo from $18.75 to $17.50 and set a “buy” rating on the stock in a research note on Tuesday, December 12th. JPMorgan Chase & Co. began coverage on Gogo in a research note on Thursday, February 29th. They issued a “neutral” rating and a $11.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $16.13.

Insider Transactions at Gogo

In related news, Director Charles C. Townsend bought 28,857 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average cost of $9.03 per share, with a total value of $260,578.71. Following the completion of the transaction, the director now owns 1,740,588 shares of the company’s stock, valued at $15,717,509.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Gogo news, Director Charles C. Townsend purchased 28,857 shares of the business’s stock in a transaction that occurred on Thursday, March 14th. The shares were purchased at an average price of $9.03 per share, for a total transaction of $260,578.71. Following the completion of the acquisition, the director now owns 1,740,588 shares of the company’s stock, valued at approximately $15,717,509.64. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Harris N. Williams acquired 12,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were purchased at an average price of $8.10 per share, for a total transaction of $97,200.00. Following the purchase, the director now directly owns 20,990 shares of the company’s stock, valued at $170,019. The disclosure for this purchase can be found here. Insiders own 26.00% of the company’s stock.

Gogo Stock Up 4.1 %

Gogo stock opened at $8.67 on Thursday. The company has a debt-to-equity ratio of 14.43, a current ratio of 4.37 and a quick ratio of 3.49. Gogo Inc. has a 1-year low of $7.76 and a 1-year high of $17.94. The company has a market cap of $1.11 billion, a PE ratio of 7.95 and a beta of 1.07. The stock’s 50 day moving average price is $8.98 and its 200 day moving average price is $10.06.

Gogo (NASDAQ:GOGO) last posted its quarterly earnings results on Wednesday, February 28th. The technology company reported $0.11 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.11. The firm had revenue of $97.81 million for the quarter, compared to the consensus estimate of $96.56 million. Gogo had a negative return on equity of 7,172.73% and a net margin of 36.64%. The company’s revenue for the quarter was down 9.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.21 earnings per share. On average, sell-side analysts predict that Gogo Inc. will post 0.38 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.