Gogo (NASDAQ:GOGO) Shares Gap Up – Still a Buy?

Gogo Inc. (NASDAQ:GOGO) gapped up prior to trading on Friday . The stock had previously closed at $6.87, but opened at $7.58. Gogo shares last traded at $6.70, with a volume of 1,084,536 shares trading hands.

Gogo Trading Down 0.2 %

The company has a debt-to-equity ratio of 11.07, a current ratio of 3.58 and a quick ratio of 2.81. The company has a market cap of $862.09 million, a price-to-earnings ratio of 15.97 and a beta of 1.01. The business’s fifty day moving average price is $7.80 and its 200 day moving average price is $7.59.

Institutional Investors Weigh In On Gogo

Institutional investors and hedge funds have recently made changes to their positions in the stock. PharVision Advisers LLC acquired a new stake in Gogo during the 4th quarter valued at approximately $746,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Gogo by 14.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 237,941 shares of the technology company’s stock valued at $1,925,000 after acquiring an additional 29,585 shares during the period. Voloridge Investment Management LLC boosted its stake in Gogo by 76.1% during the fourth quarter. Voloridge Investment Management LLC now owns 581,706 shares of the technology company’s stock worth $4,706,000 after acquiring an additional 251,348 shares in the last quarter. Squarepoint Ops LLC boosted its stake in Gogo by 222.0% during the fourth quarter. Squarepoint Ops LLC now owns 30,506 shares of the technology company’s stock worth $247,000 after acquiring an additional 55,506 shares in the last quarter. Finally, Two Sigma Investments LP grew its holdings in Gogo by 50.1% in the fourth quarter. Two Sigma Investments LP now owns 101,778 shares of the technology company’s stock worth $823,000 after purchasing an additional 33,960 shares during the period. Institutional investors and hedge funds own 69.60% of the company’s stock.

About Gogo

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.