Los Angeles Capital Management LLC Boosts Stake in Gogo Inc. $GOGO

Los Angeles Capital Management LLC raised its position in Gogo Inc. (NASDAQ:GOGO) by 34.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 69,077 shares of the technology company’s stock after purchasing an additional 17,541 shares during the quarter. Los Angeles Capital Management LLC owned 0.05% of Gogo worth $1,014,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. USA Financial Formulas acquired a new stake in Gogo during the 2nd quarter worth approximately $76,000. CWM LLC grew its stake in Gogo by 127.0% during the second quarter. CWM LLC now owns 6,626 shares of the technology company’s stock worth $97,000 after buying an additional 3,707 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Gogo in the first quarter worth $111,000. Brighton Jones LLC raised its stake 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, Baader Bank Aktiengesellschaft purchased a new position in shares of Gogo in the 2nd quarter valued at $147,000. 69.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Morgan Stanley began coverage on shares of Gogo in a research report on Thursday, August 14th. They set an “equal weight” rating and a $15.00 price target for the company. Wall Street Zen downgraded Gogo from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Gogo in a research note on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $14.83.

Gogo Stock Performance

NASDAQ:GOGO opened at $7.26 on Thursday. The firm has a 50-day moving average of $9.06 and a two-hundred day moving average of $11.43. The company has a debt-to-equity ratio of 7.79, a current ratio of 1.74 and a quick ratio of 1.40. The stock has a market cap of $971.75 million, a P/E ratio of -145.20 and a beta of 1.04. Gogo Inc. has a 1-year low of $6.20 and a 1-year high of $16.82.

Gogo (NASDAQ:GOGO) last released its quarterly earnings results on Thursday, November 6th. The technology company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.12). Gogo had a positive return on equity of 71.74% and a negative net margin of 0.65%.The business had revenue of $223.59 million during the quarter, compared to analyst estimates of $222.23 million. During the same quarter last year, the firm posted $0.08 EPS. The company’s revenue was up 122.4% compared to the same quarter last year. Gogo has set its FY 2025 guidance at EPS. On average, research analysts expect that Gogo Inc. will post 0.41 earnings per share for the current fiscal year.

Gogo Company 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.