Algert Global LLC Purchases 76,590 Shares of Gogo Inc. (NASDAQ:GOGO)

Algert Global LLC lifted its position in shares of Gogo Inc. (NASDAQ:GOGO) by 174.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 120,500 shares of the technology company’s stock after purchasing an additional 76,590 shares during the period. Algert Global LLC owned about 0.10% of Gogo worth $865,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. grew its holdings in shares of Gogo by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 557,732 shares of the technology company’s stock worth $4,005,000 after purchasing an additional 3,181 shares during the last quarter. Intech Investment Management LLC bought a new stake in shares of Gogo during the third quarter worth about $740,000. Quest Partners LLC bought a new stake in shares of Gogo during the third quarter worth about $158,000. Royce & Associates LP grew its holdings in shares of Gogo by 39.4% during the third quarter. Royce & Associates LP now owns 123,910 shares of the technology company’s stock worth $890,000 after purchasing an additional 35,025 shares during the last quarter. Finally, Olympiad Research LP bought a new stake in shares of Gogo during the third quarter worth about $318,000. 69.60% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently commented on GOGO. Morgan Stanley reduced their target price on Gogo from $12.00 to $11.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 3rd. Roth Mkm reiterated a “buy” rating and issued a $15.50 target price on shares of Gogo in a report on Tuesday, September 17th. Finally, JPMorgan Chase & Co. reduced their target price on Gogo from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th.

Gogo Price Performance

Gogo stock opened at $8.03 on Friday. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of 18.67 and a beta of 1.10. Gogo Inc. has a 52-week low of $6.17 and a 52-week high of $11.17. The stock’s 50 day moving average price is $7.29 and its two-hundred day moving average price is $8.36. The company has a debt-to-equity ratio of 11.07, a quick ratio of 2.81 and a current ratio of 3.58.

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.