Gogo Inc. $GOGO Shares Purchased by William Blair Investment Management LLC

William Blair Investment Management LLC grew its holdings in shares of Gogo Inc. (NASDAQ:GOGO) by 6.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,067,663 shares of the technology company’s stock after acquiring an additional 393,830 shares during the period. William Blair Investment Management LLC owned about 4.53% of Gogo worth $52,121,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. LB Partners LLC grew its stake in Gogo by 30.0% during the 3rd quarter. LB Partners LLC now owns 3,228,979 shares of the technology company’s stock valued at $27,737,000 after purchasing an additional 745,000 shares in the last quarter. Hussman Strategic Advisors Inc. purchased a new position in shares of Gogo during the 3rd quarter valued at approximately $2,345,000. XTX Topco Ltd acquired a new stake in shares of Gogo during the second quarter worth approximately $1,018,000. Quantbot Technologies LP bought a new stake in shares of Gogo in the second quarter worth $2,684,000. Finally, Intech Investment Management LLC raised its holdings in Gogo by 129.0% in the second quarter. Intech Investment Management LLC now owns 76,138 shares of the technology company’s stock valued at $1,118,000 after acquiring an additional 42,897 shares in the last quarter. 69.60% of the stock is owned by hedge funds and other institutional investors.

Gogo Trading Down 2.8%

NASDAQ GOGO opened at $4.23 on Monday. Gogo Inc. has a one year low of $3.85 and a one year high of $16.82. The company has a 50-day simple moving average of $4.56 and a 200-day simple moving average of $7.21. The company has a debt-to-equity ratio of 8.24, a quick ratio of 1.24 and a current ratio of 1.60. The firm has a market capitalization of $566.19 million, a PE ratio of 42.30 and a beta of 1.07.

Gogo (NASDAQ:GOGO) last released its quarterly earnings data on Friday, February 27th. The technology company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.09). Gogo had a return on equity of 55.95% and a net margin of 1.42%.The business had revenue of $230.56 million for the quarter. During the same quarter last year, the business posted ($0.22) EPS. The firm’s revenue for the quarter was up 67.3% compared to the same quarter last year. On average, equities analysts forecast that Gogo Inc. will post 0.41 earnings per share for the current year.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Morgan Stanley set a $8.00 price objective on shares of Gogo in a research note on Friday, January 16th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Gogo in a research report on Monday, December 29th. Finally, William Blair downgraded Gogo from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 9th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Gogo currently has an average rating of “Hold” and a consensus price target of $12.25.

Insider Activity

In related news, insider Oakleigh Thorne purchased 170,000 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The shares were acquired at an average price of $5.34 per share, with a total value of $907,800.00. Following the acquisition, the insider owned 954,098 shares in the company, valued at approximately $5,094,883.32. This trade represents a 21.68% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 25.78% of the company’s stock.

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.