William Blair Investment Management LLC Purchases 330,961 Shares of Gogo Inc. (NASDAQ:GOGO)

William Blair Investment Management LLC boosted its stake in Gogo Inc. (NASDAQ:GOGO) by 15.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,424,378 shares of the technology company’s stock after purchasing an additional 330,961 shares during the quarter. William Blair Investment Management LLC’s holdings in Gogo were worth $19,613,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Royce & Associates LP boosted its stake in Gogo by 21.7% in the 4th quarter. Royce & Associates LP now owns 150,855 shares of the technology company’s stock worth $1,220,000 after purchasing an additional 26,945 shares during the period. Net Worth Advisory Group bought a new position in Gogo in the 4th quarter worth about $209,000. Amundi boosted its stake in Gogo by 142.9% in the 4th quarter. Amundi now owns 26,387 shares of the technology company’s stock worth $200,000 after purchasing an additional 15,525 shares during the period. Aigen Investment Management LP bought a new position in Gogo in the 4th quarter worth about $310,000. Finally, Victory Capital Management Inc. boosted its stake in Gogo by 506.8% in the 4th quarter. Victory Capital Management Inc. now owns 66,323 shares of the technology company’s stock worth $537,000 after purchasing an additional 55,393 shares during the period. Institutional investors own 69.60% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on GOGO. Roth Mkm cut their target price on Gogo from $15.50 to $13.00 and set a “buy” rating for the company in a research note on Monday. StockNews.com cut Gogo from a “hold” rating to a “sell” rating in a report on Monday.

Gogo Stock Performance

NASDAQ:GOGO opened at $6.93 on Wednesday. The business’s 50-day moving average price is $7.74 and its two-hundred day moving average price is $7.56. Gogo Inc. has a twelve month low of $6.17 and a twelve month high of $11.00. The stock has a market cap of $871.65 million, a P/E ratio of 16.12 and a beta of 1.01. The company has a quick ratio of 2.81, a current ratio of 3.58 and a debt-to-equity ratio of 11.07.

Gogo (NASDAQ:GOGO) last released its quarterly earnings results on Friday, March 14th. The technology company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.03. The firm had revenue of $137.80 million for the quarter, compared to analysts’ expectations of $97.80 million. Gogo had a return on equity of 121.96% and a net margin of 13.94%. The company’s revenue was up 40.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.11 EPS. As a group, equities analysts predict that Gogo Inc. will post 0.41 EPS for the current fiscal year.

Insider Activity at Gogo

In other news, Director Oakleigh Thorne acquired 30,173 shares of the firm’s stock in a transaction that occurred on 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 acquisition, the director now owns 711,341 shares in the company, valued at approximately $4,673,510.37. This represents a 4.43 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 26.00% of the stock is currently owned by insiders.

Gogo 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.