Jupiter Asset Management Ltd. Has $3.96 Million Holdings in Gogo Inc. $GOGO

Jupiter Asset Management Ltd. trimmed its stake in Gogo Inc. (NASDAQ:GOGO) by 31.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 269,871 shares of the technology company’s stock after selling 122,980 shares during the period. Jupiter Asset Management Ltd.’s holdings in Gogo were worth $3,962,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Brighton Jones LLC boosted 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 purchasing an additional 6,978 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of Gogo by 2.5% during the first quarter. Principal Financial Group Inc. now owns 295,174 shares of the technology company’s stock worth $2,544,000 after acquiring an additional 7,284 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Gogo by 21.6% in the first quarter. Victory Capital Management Inc. now owns 80,678 shares of the technology company’s stock worth $695,000 after purchasing an additional 14,355 shares during the last quarter. Allianz Asset Management GmbH lifted its stake in Gogo by 30.6% during the 1st quarter. Allianz Asset Management GmbH now owns 40,500 shares of the technology company’s stock valued at $349,000 after acquiring an additional 9,500 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in Gogo during the first quarter worth about $111,000. 69.60% of the stock is currently owned by institutional investors.

Gogo Price Performance

GOGO stock opened at $7.14 on Friday. The company has a debt-to-equity ratio of 7.79, a quick ratio of 1.40 and a current ratio of 1.74. Gogo Inc. has a 52 week low of $6.20 and a 52 week high of $16.82. The firm’s fifty day moving average is $8.99 and its 200 day moving average is $11.40. The firm has a market cap of $955.69 million, a P/E ratio of -142.80 and a beta of 1.04.

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

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on GOGO shares. Morgan Stanley started coverage on Gogo in a research report on Thursday, August 14th. They set an “equal weight” rating and a $15.00 target price for the company. Wall Street Zen cut 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 given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $14.83.

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.