Tudor Investment Corp ET AL lifted its position in shares of Gogo Inc. (NASDAQ:GOGO – Free Report) by 1,095.1% in the third quarter, Holdings Channel reports. The firm owned 705,968 shares of the technology company’s stock after purchasing an additional 646,894 shares during the period. Tudor Investment Corp ET AL’s holdings in Gogo were worth $6,064,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Fortitude Family Office LLC purchased a new position in Gogo in the third quarter valued at approximately $30,000. State of Wyoming purchased a new stake in Gogo during the third quarter worth approximately $32,000. Quarry LP increased its position in shares of Gogo by 86.1% in the third quarter. Quarry LP now owns 7,171 shares of the technology company’s stock worth $62,000 after acquiring an additional 3,318 shares in the last quarter. Focus Partners Wealth purchased a new position in shares of Gogo in the 3rd quarter valued at $72,000. Finally, Versor Investments LP purchased a new position in shares of Gogo in the 3rd quarter valued at $86,000. Institutional investors and hedge funds own 69.60% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of analysts recently weighed in on the stock. William Blair cut shares of Gogo from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 9th. Morgan Stanley set a $8.00 target price on Gogo in a research report on Friday, January 16th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Gogo in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $12.25.
Gogo Trading Down 0.9%
NASDAQ:GOGO opened at $4.44 on Wednesday. The stock has a market cap of $597.98 million, a price-to-earnings ratio of 44.40 and a beta of 1.07. Gogo Inc. has a one year low of $3.85 and a one year high of $16.82. The company has a debt-to-equity ratio of 8.24, a quick ratio of 1.24 and a current ratio of 1.60. The business’s 50-day simple moving average is $4.51 and its 200 day simple moving average is $6.41.
Gogo (NASDAQ:GOGO – Get Free Report) last issued its quarterly earnings data on Friday, February 27th. The technology company reported ($0.07) earnings per share for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.09). Gogo had a net margin of 1.42% and a return on equity of 55.95%. The business had revenue of $230.56 million for the quarter, compared to analyst estimates of $222.65 million. During the same quarter last year, the business earned ($0.22) EPS. Gogo’s revenue for the quarter was up 67.3% compared to the same quarter last year. As a group, sell-side analysts predict that Gogo Inc. will post 0.41 earnings per share for the current fiscal year.
Insider Activity
In related news, Director Charles C. Townsend purchased 158,591 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The shares were purchased at an average cost of $4.57 per share, with a total value of $724,760.87. Following the completion of the acquisition, the director directly owned 418,686 shares of the company’s stock, valued at approximately $1,913,395.02. The trade was a 60.97% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 25.78% of the company’s stock.
Gogo Profile
Gogo Inc is a leading provider of in-flight connectivity and entertainment solutions for commercial and business aviation. The company specializes in delivering broadband internet, voice and text services, and streaming entertainment to passengers at 35,000 feet. Gogo’s offerings include both air-to-ground (ATG) networks and satellite-based connectivity, enabling reliable in-flight internet access across a range of aircraft types.
Gogo’s ATG network spans the United States and portions of Canada, using ground towers to transmit data signals directly to equipped aircraft.
See Also
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