Capco Asset Management LLC Sells 12,806 Shares of Gogo Inc. $GOGO

Capco Asset Management LLC reduced its holdings in shares of Gogo Inc. (NASDAQ:GOGO) by 0.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,955,589 shares of the technology company’s stock after selling 12,806 shares during the quarter. Gogo accounts for 9.1% of Capco Asset Management LLC’s portfolio, making the stock its 5th largest position. Capco Asset Management LLC’s holdings in Gogo were worth $43,388,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Brighton Jones LLC grew its position in Gogo by 69.6% in the fourth 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 in the last quarter. Principal Financial Group Inc. raised its position in shares of Gogo by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 295,174 shares of the technology company’s stock valued at $2,544,000 after acquiring an additional 7,284 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in shares of Gogo by 21.6% in the 1st quarter. Victory Capital Management Inc. now owns 80,678 shares of the technology company’s stock valued at $695,000 after buying an additional 14,355 shares during the period. Allianz Asset Management GmbH raised its position in shares of Gogo by 30.6% during the 1st quarter. Allianz Asset Management GmbH now owns 40,500 shares of the technology company’s stock worth $349,000 after purchasing an additional 9,500 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Gogo in the first quarter worth $111,000. Institutional investors and hedge funds own 69.60% of the company’s stock.

Gogo Price Performance

Shares of Gogo stock opened at $7.14 on Friday. 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 firm has a market cap of $955.69 million, a price-to-earnings ratio of -142.80 and a beta of 1.04. Gogo Inc. has a 52-week low of $6.20 and a 52-week high of $16.82. The stock has a 50-day simple moving average of $8.92 and a 200-day simple moving average of $11.40.

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

Analyst Ratings Changes

GOGO has been the topic of several recent analyst reports. Morgan Stanley assumed coverage on Gogo in a research note on Thursday, August 14th. They set an “equal weight” rating and a $15.00 target price on the stock. Wall Street Zen downgraded Gogo from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Weiss Ratings reissued a “sell (d+)” rating on shares of Gogo in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Gogo has an average 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.