Blair William & Co. IL Sells 6,115 Shares of Gogo Inc. (NASDAQ:GOGO)

Blair William & Co. IL decreased its stake in Gogo Inc. (NASDAQ:GOGO) by 1.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 492,298 shares of the technology company’s stock after selling 6,115 shares during the period. Blair William & Co. IL’s holdings in Gogo were worth $4,736,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Gogo by 0.8% during the first quarter. Vanguard Group Inc. now owns 5,748,287 shares of the technology company’s stock worth $50,470,000 after buying an additional 44,340 shares in the last quarter. Burgundy Asset Management Ltd. increased its holdings in Gogo by 27.7% in the 1st quarter. Burgundy Asset Management Ltd. now owns 3,064,421 shares of the technology company’s stock worth $26,906,000 after purchasing an additional 664,803 shares in the last quarter. William Blair Investment Management LLC raised its position in Gogo by 7.9% in the second quarter. William Blair Investment Management LLC now owns 2,073,693 shares of the technology company’s stock valued at $19,949,000 after purchasing an additional 152,338 shares during the last quarter. LB Partners LLC boosted its stake in shares of Gogo by 31.0% during the first quarter. LB Partners LLC now owns 1,895,606 shares of the technology company’s stock valued at $16,643,000 after purchasing an additional 448,918 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Gogo by 3.8% during the second quarter. Bank of New York Mellon Corp now owns 675,845 shares of the technology company’s stock valued at $6,502,000 after purchasing an additional 24,665 shares in the last quarter. Institutional investors and hedge funds own 69.60% of the company’s stock.

Gogo Price Performance

Shares of GOGO opened at $6.89 on Friday. The business has a 50-day moving average of $8.06 and a 200-day moving average of $8.89. The company has a debt-to-equity ratio of 11.25, a current ratio of 3.95 and a quick ratio of 3.16. The company has a market capitalization of $875.75 million, a price-to-earnings ratio of 5.89 and a beta of 1.11. Gogo Inc. has a 1 year low of $6.72 and a 1 year high of $12.61.

Gogo (NASDAQ:GOGO) last issued its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). Gogo had a return on equity of 145.01% and a net margin of 16.59%. The firm had revenue of $102.10 million during the quarter, compared to analyst estimates of $99.02 million. During the same quarter last year, the firm posted $0.20 EPS. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, equities research analysts anticipate that Gogo Inc. will post 0.35 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on GOGO shares. Roth Mkm reiterated a “buy” rating and issued a $15.50 price objective on shares of Gogo in a report on Tuesday, September 17th. Morgan Stanley decreased their price target on shares of Gogo from $12.00 to $11.00 and set an “equal weight” rating for the company in a research report on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. cut their price target on shares of Gogo from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th.

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.