Diametric Capital LP Takes $121,000 Position in Gogo Inc. (NASDAQ:GOGO)

Diametric Capital LP bought a new position in Gogo Inc. (NASDAQ:GOGO) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 14,949 shares of the technology company’s stock, valued at approximately $121,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOGO. FMR LLC raised its holdings in shares of Gogo by 13.5% in the 3rd quarter. FMR LLC now owns 5,653,036 shares of the technology company’s stock worth $40,589,000 after purchasing an additional 673,315 shares during the period. Capco Asset Management LLC raised its holdings in Gogo by 22.1% in the fourth quarter. Capco Asset Management LLC now owns 3,009,743 shares of the technology company’s stock valued at $24,349,000 after buying an additional 544,178 shares during the period. SCP Investment LP lifted its position in Gogo by 51.0% during the fourth quarter. SCP Investment LP now owns 1,450,000 shares of the technology company’s stock valued at $11,730,000 after buying an additional 490,000 shares in the last quarter. Weiss Asset Management LP purchased a new stake in Gogo during the third quarter worth approximately $3,031,000. Finally, William Blair Investment Management LLC increased its position in shares of Gogo by 15.8% in the fourth quarter. William Blair Investment Management LLC now owns 2,424,378 shares of the technology company’s stock worth $19,613,000 after acquiring an additional 330,961 shares in the last quarter. Institutional investors and hedge funds own 69.60% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on GOGO shares. Roth Mkm decreased their price target on shares of Gogo from $15.50 to $13.00 and set a “buy” rating for the company in a research report on Monday, March 17th. StockNews.com downgraded Gogo from a “hold” rating to a “sell” rating in a research report on Monday, March 17th.

Gogo Trading Up 2.0 %

NASDAQ GOGO opened at $8.59 on Thursday. The stock has a market cap of $1.13 billion, a P/E ratio of 19.98 and a beta of 0.59. The company’s fifty day simple moving average is $7.87 and its 200-day simple moving average is $7.60. The company has a current ratio of 3.58, a quick ratio of 2.81 and a debt-to-equity ratio of 11.07. Gogo Inc. has a 52 week low of $6.17 and a 52 week high of $11.00.

Gogo (NASDAQ:GOGO) last issued its quarterly earnings data on Friday, March 14th. The technology company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. The firm had revenue of $137.80 million for the quarter, compared to analyst estimates of $97.80 million. Gogo had a net margin of 13.94% and a return on equity of 121.96%. The firm’s revenue was up 40.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.11 EPS. Equities research analysts predict that Gogo Inc. will post 0.41 EPS for the current fiscal year.

Insider Buying and Selling at Gogo

In other Gogo news, Director Oakleigh Thorne bought 30,173 shares of Gogo stock in a transaction dated Monday, March 17th. The stock was bought at an average cost of $6.57 per share, for a total transaction of $198,236.61. Following the purchase, the director now owns 711,341 shares in the company, valued at $4,673,510.37. This represents a 4.43 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 26.00% of the stock is owned by insiders.

Gogo 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.