Semanteon Capital Management LP Takes $138,000 Position in Gogo Inc. (NASDAQ:GOGO)

Semanteon Capital Management LP acquired a new stake in shares of Gogo Inc. (NASDAQ:GOGO) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,045 shares of the technology company’s stock, valued at approximately $138,000.

A number of other institutional investors have also recently made changes to their positions in GOGO. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Gogo by 0.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 208,356 shares of the technology company’s stock worth $1,496,000 after acquiring an additional 1,714 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in Gogo by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 557,732 shares of the technology company’s stock worth $4,005,000 after acquiring an additional 3,181 shares during the period. Principal Financial Group Inc. lifted its stake in Gogo by 1.9% in the fourth quarter. Principal Financial Group Inc. now owns 287,890 shares of the technology company’s stock worth $2,329,000 after acquiring an additional 5,420 shares during the period. Brighton Jones LLC lifted its stake in Gogo by 69.6% in the fourth quarter. Brighton Jones LLC now owns 17,000 shares of the technology company’s stock worth $138,000 after acquiring an additional 6,978 shares during the period. Finally, SG Americas Securities LLC lifted its stake in Gogo by 25.4% in the fourth quarter. SG Americas Securities LLC now owns 35,333 shares of the technology company’s stock worth $286,000 after acquiring an additional 7,156 shares during the period. Hedge funds and other institutional investors own 69.60% of the company’s stock.

Insider Activity

In related news, Director Oakleigh Thorne purchased 30,173 shares of Gogo stock in a transaction dated Monday, March 17th. The stock was purchased at an average cost of $6.57 per share, for a total transaction of $198,236.61. Following the completion of the acquisition, the director now directly owns 711,341 shares of the company’s stock, valued at $4,673,510.37. The trade was a 4.43 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 26.00% of the company’s stock.

Analysts Set New Price Targets

GOGO has been the subject of a number of research analyst reports. StockNews.com lowered Gogo from a “hold” rating to a “sell” rating in a research note on Monday, March 17th. Roth Mkm lowered their price objective on Gogo from $15.50 to $13.00 and set a “buy” rating for the company in a research report on Monday, March 17th.

Gogo Stock Performance

Shares of Gogo stock opened at $7.42 on Friday. The company has a current ratio of 3.58, a quick ratio of 2.81 and a debt-to-equity ratio of 11.07. The firm has a market capitalization of $933.28 million, a P/E ratio of 17.26 and a beta of 1.01. The business has a fifty day simple moving average of $7.75 and a two-hundred day simple moving average of $7.55. Gogo Inc. has a 12 month low of $6.17 and a 12 month high of $11.00.

Gogo (NASDAQ:GOGO) last issued 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. Gogo had a return on equity of 121.96% and a net margin of 13.94%. The firm had revenue of $137.80 million during the quarter, compared to the consensus estimate of $97.80 million. During the same period last year, the company earned $0.11 earnings per share. The company’s revenue was up 40.9% on a year-over-year basis. On average, equities analysts forecast that Gogo Inc. will post 0.41 earnings per share for the current fiscal year.

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.