LB Partners LLC Raises Stock Position in Gogo Inc. $GOGO

LB Partners LLC boosted its stake in Gogo Inc. (NASDAQ:GOGO) by 436.0% in the first quarter, HoldingsChannel.com reports. The firm owned 804,034 shares of the technology company’s stock after buying an additional 654,034 shares during the period. Gogo accounts for about 2.9% of LB Partners LLC’s investment portfolio, making the stock its 10th largest holding. LB Partners LLC’s holdings in Gogo were worth $3,232,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in GOGO. Nantahala Capital Management LLC bought a new position in Gogo during the 4th quarter worth approximately $31,654,000. Vanguard Group Inc. lifted its holdings in Gogo by 6.3% in the third quarter. Vanguard Group Inc. now owns 6,651,058 shares of the technology company’s stock valued at $57,133,000 after buying an additional 396,236 shares during the period. State Street Corp boosted its position in Gogo by 7.0% during the fourth quarter. State Street Corp now owns 3,136,833 shares of the technology company’s stock valued at $14,618,000 after acquiring an additional 204,296 shares during the last quarter. Millennium Management LLC boosted its position in Gogo by 774.0% during the fourth quarter. Millennium Management LLC now owns 2,355,573 shares of the technology company’s stock valued at $10,977,000 after acquiring an additional 2,086,042 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in Gogo by 0.3% during the 4th quarter. Geode Capital Management LLC now owns 1,886,561 shares of the technology company’s stock worth $8,793,000 after acquiring an additional 6,512 shares during the period. 69.60% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on GOGO shares. Weiss Ratings raised Gogo from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, May 12th. Morgan Stanley dropped their price target on Gogo from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 21st. Finally, Roth Mkm set a $12.00 price target on Gogo in a report on Thursday, May 7th. Two analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and a consensus target price of $9.50.

Gogo Stock Up 11.9%

Shares of NASDAQ:GOGO opened at $3.47 on Thursday. The business’s 50 day simple moving average is $3.93 and its two-hundred day simple moving average is $4.34. The firm has a market cap of $469.28 million, a P/E ratio of 31.55 and a beta of 1.16. The company has a debt-to-equity ratio of 6.89, a quick ratio of 1.27 and a current ratio of 1.66. Gogo Inc. has a 52-week low of $3.02 and a 52-week high of $16.82.

About Gogo

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.