Amalgamated Bank Sells 1,427 Shares of Gogo Inc. (NASDAQ:GOGO)

Amalgamated Bank decreased its holdings in Gogo Inc. (NASDAQ:GOGO) by 7.1% during the 2nd quarter, Holdings Channel.com reports. The fund owned 18,759 shares of the technology company’s stock after selling 1,427 shares during the quarter. Amalgamated Bank’s holdings in Gogo were worth $180,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Burgundy Asset Management Ltd. lifted its position in Gogo by 20.0% in the 4th quarter. Burgundy Asset Management Ltd. now owns 2,399,618 shares of the technology company’s stock valued at $24,308,000 after acquiring an additional 400,487 shares in the last quarter. Capstone Investment Advisors LLC bought a new position in Gogo in the 1st quarter valued at about $736,000. William Blair Investment Management LLC lifted its position in shares of Gogo by 7.9% during the 2nd quarter. William Blair Investment Management LLC now owns 2,073,693 shares of the technology company’s stock worth $19,949,000 after buying an additional 152,338 shares in the last quarter. State Board of Administration of Florida Retirement System lifted its position in shares of Gogo by 12.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 21,320 shares of the technology company’s stock worth $187,000 after buying an additional 2,390 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in shares of Gogo by 26.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 55,236 shares of the technology company’s stock worth $485,000 after buying an additional 11,505 shares in the last quarter. Institutional investors own 69.60% of the company’s stock.

Analyst Ratings Changes

GOGO has been the topic of several recent analyst reports. Roth Mkm reissued a “buy” rating and set a $15.50 target price on shares of Gogo in a research report on Tuesday, September 17th. Morgan Stanley dropped their target price on shares of Gogo from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. dropped their target price on shares of Gogo from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th.

Gogo Trading Down 0.8 %

Shares of GOGO stock opened at $7.18 on Tuesday. The company has a 50 day moving average of $7.81 and a 200-day moving average of $8.82. The company has a quick ratio of 3.16, a current ratio of 3.95 and a debt-to-equity ratio of 11.25. Gogo Inc. has a 12-month low of $6.61 and a 12-month high of $12.01. The firm has a market cap of $912.61 million, a P/E ratio of 6.02 and a beta of 1.11.

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 the consensus estimate of $0.07 by ($0.06). Gogo had a return on equity of 145.01% and a net margin of 16.59%. The company had revenue of $102.10 million for the quarter, compared to analysts’ expectations of $99.02 million. During the same quarter in the previous year, the business earned $0.20 EPS. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. Sell-side analysts anticipate that Gogo Inc. will post 0.35 earnings per share for the current year.

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.