Nationwide Fund Advisors Holds Holdings in Gogo Inc. (GOGO)
Nationwide Fund Advisors held its stake in Gogo Inc. (NASDAQ:GOGO) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 33,325 shares of the technology company’s stock at the close of the second quarter. Nationwide Fund Advisors’ holdings in Gogo were worth $384,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. acquired a new position in shares of Gogo in the first quarter valued at approximately $114,000. Parkwood LLC grew its holdings in shares of Gogo by 16.2% in the second quarter. Parkwood LLC now owns 12,888 shares of the technology company’s stock valued at $149,000 after purchasing an additional 1,799 shares in the last quarter. Legal & General Group Plc grew its holdings in shares of Gogo by 12.3% in the first quarter. Legal & General Group Plc now owns 14,770 shares of the technology company’s stock valued at $163,000 after purchasing an additional 1,612 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Gogo in the second quarter valued at approximately $180,000. Finally, Parametric Portfolio Associates LLC grew its holdings in shares of Gogo by 17.5% in the first quarter. Parametric Portfolio Associates LLC now owns 22,477 shares of the technology company’s stock valued at $247,000 after purchasing an additional 3,342 shares in the last quarter. Hedge funds and other institutional investors own 66.62% of the company’s stock.
Several research firms have commented on GOGO. BidaskClub cut shares of Gogo from a “buy” rating to a “hold” rating in a report on Friday, August 11th. ValuEngine cut shares of Gogo from a “hold” rating to a “sell” rating in a report on Monday, October 2nd. Zacks Investment Research cut shares of Gogo from a “hold” rating to a “sell” rating in a report on Monday, August 7th. Northland Securities began coverage on shares of Gogo in a report on Tuesday, September 19th. They set an “under perform” rating and a $6.75 price target for the company. Finally, Guggenheim reiterated a “buy” rating and set a $16.00 price target on shares of Gogo in a report on Monday, October 9th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $14.35.
Gogo Inc. (NASDAQ GOGO) opened at $9.11 on Wednesday. The company has a debt-to-equity ratio of -6.40, a current ratio of 2.20 and a quick ratio of 2.02. Gogo Inc. has a twelve month low of $8.56 and a twelve month high of $14.76.
Gogo (NASDAQ:GOGO) last posted its quarterly earnings results on Thursday, November 2nd. The technology company reported ($0.57) EPS for the quarter, missing the consensus estimate of ($0.51) by ($0.06). The business had revenue of $172.87 million for the quarter, compared to the consensus estimate of $172.92 million. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.42) EPS. equities research analysts forecast that Gogo Inc. will post -2.06 earnings per share for the current fiscal year.
Gogo Inc is a holding company. The Company is a provider of in-flight broadband connectivity and connectivity-enabled services to commercial and business aviation. The Company operates through three segments: Commercial Aviation North America (CA-NA), Commercial Aviation Rest of World (CA-ROW) and Business Aviation (BA).
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