10,022 Shares in Gogo Inc. (NASDAQ:GOGO) Acquired by Brighton Jones LLC

Brighton Jones LLC acquired a new position in shares of Gogo Inc. (NASDAQ:GOGO) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 10,022 shares of the technology company’s stock, valued at approximately $72,000.

Other hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in Gogo by 0.8% during the 1st 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 during the last quarter. Burgundy Asset Management Ltd. lifted its holdings in shares of Gogo by 1.4% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 3,108,226 shares of the technology company’s stock valued at $29,901,000 after buying an additional 43,805 shares during the period. Capco Asset Management LLC lifted its holdings in shares of Gogo by 1.7% in the 2nd quarter. Capco Asset Management LLC now owns 2,479,974 shares of the technology company’s stock valued at $23,857,000 after buying an additional 41,866 shares during the period. William Blair Investment Management LLC increased its stake in Gogo by 7.9% in the 2nd 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 in the last quarter. Finally, LB Partners LLC increased its stake in Gogo by 12.4% in the 3rd quarter. LB Partners LLC now owns 2,045,000 shares of the technology company’s stock valued at $14,683,000 after purchasing an additional 225,000 shares in the last quarter. 69.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Roth Mkm reissued a “buy” rating and set a $15.50 price target on shares of Gogo in a research report on Tuesday, September 17th. Morgan Stanley dropped their price target on 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. lowered their price objective on Gogo from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th.

Gogo Trading Up 0.4 %

NASDAQ:GOGO opened at $7.17 on Monday. The company has a debt-to-equity ratio of 11.25, a quick ratio of 3.16 and a current ratio of 3.95. The stock has a market cap of $910.23 million, a price-to-earnings ratio of 14.06 and a beta of 1.09. Gogo Inc. has a one year low of $6.17 and a one year high of $11.23. The business’s 50-day simple moving average is $7.22 and its 200 day simple moving average is $8.58.

Gogo (NASDAQ:GOGO) last announced its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). Gogo had a net margin of 16.59% and a return on equity of 145.01%. The business had revenue of $102.10 million for the quarter, compared to the consensus estimate of $99.02 million. During the same period in the prior year, the company earned $0.20 EPS. Gogo’s quarterly revenue was down 1.1% on a year-over-year basis. As a group, sell-side analysts predict that Gogo Inc. will post 0.35 earnings per share for the current fiscal year.

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.