nVerses Capital LLC Makes New $34,000 Investment in Gogo Inc. (NASDAQ:GOGO)

nVerses Capital LLC acquired a new position in shares of Gogo Inc. (NASDAQ:GOGO) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 4,700 shares of the technology company’s stock, valued at approximately $34,000.

Other large investors have also made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Gogo during the second quarter worth about $107,000. AQR Capital Management LLC acquired a new stake in shares of Gogo during the 2nd quarter worth approximately $108,000. SG Americas Securities LLC acquired a new stake in shares of Gogo during the 2nd quarter worth approximately $109,000. Point72 DIFC Ltd bought a new stake in shares of Gogo during the second quarter valued at approximately $117,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Gogo by 67.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,285 shares of the technology company’s stock valued at $166,000 after purchasing an additional 6,941 shares in the last quarter. Institutional investors and hedge funds own 69.60% of the company’s stock.

Gogo Stock Performance

Shares of NASDAQ:GOGO opened at $6.92 on Wednesday. The stock has a market capitalization of $879.57 million, a price-to-earnings ratio of 5.91 and a beta of 1.09. The business’s fifty day moving average price is $7.22 and its two-hundred day moving average price is $8.61. Gogo Inc. has a fifty-two week low of $6.17 and a fifty-two week high of $11.40. The company has a debt-to-equity ratio of 11.25, a current ratio of 3.95 and a quick ratio of 3.16.

Gogo (NASDAQ:GOGO) last posted its earnings results on Wednesday, August 7th. The technology company reported $0.01 earnings per share 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 firm had revenue of $102.10 million during the quarter, compared to the consensus estimate of $99.02 million. During the same period in the previous year, the company posted $0.20 EPS. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, analysts predict that Gogo Inc. will post 0.35 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.