Blair William & Co. IL Trims Stock Position in Gogo Inc. (NASDAQ:GOGO)

Blair William & Co. IL decreased its position in shares of Gogo Inc. (NASDAQ:GOGO) by 48.3% during the 4th quarter, HoldingsChannel.com reports. The firm owned 234,531 shares of the technology company’s stock after selling 219,525 shares during the quarter. Blair William & Co. IL’s holdings in Gogo were worth $1,897,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Gogo by 0.8% during the 3rd 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 buying an additional 1,714 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Gogo by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 557,732 shares of the technology company’s stock valued at $4,005,000 after acquiring an additional 3,181 shares during the period. Principal Financial Group Inc. grew its position in shares of Gogo by 1.9% during 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 last quarter. Brighton Jones LLC increased its holdings in shares of Gogo by 69.6% in the 4th quarter. Brighton Jones LLC now owns 17,000 shares of the technology company’s stock valued at $138,000 after acquiring an additional 6,978 shares during the period. Finally, SG Americas Securities LLC raised its position in Gogo by 25.4% in the 4th quarter. SG Americas Securities LLC now owns 35,333 shares of the technology company’s stock valued at $286,000 after purchasing an additional 7,156 shares during the last quarter. Institutional investors and hedge funds own 69.60% of the company’s stock.

Gogo Stock Down 2.3 %

GOGO stock opened at $8.42 on Wednesday. The stock has a market capitalization of $1.11 billion, a PE ratio of 19.58 and a beta of 1.01. The company has a fifty day moving average of $7.87 and a 200-day moving average of $7.59. The company has a debt-to-equity ratio of 11.07, a quick ratio of 2.81 and a current ratio of 3.58. Gogo Inc. has a one year low of $6.17 and a one year high of $11.00.

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

Insiders Place Their Bets

In related news, Director Oakleigh Thorne purchased 30,173 shares of the stock in a transaction dated Monday, March 17th. The shares were acquired at an average cost of $6.57 per share, with a total value of $198,236.61. Following the purchase, the director now directly owns 711,341 shares in the company, valued at $4,673,510.37. This trade represents a 4.43 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 26.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have issued reports on the stock. Roth Mkm lowered their price objective on shares of Gogo from $15.50 to $13.00 and set a “buy” rating on the stock in a research report on Monday, March 17th. StockNews.com cut Gogo from a “hold” rating to a “sell” rating in a research report on Monday, March 17th.

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.