Gamco Investors INC. ET AL Has $2.96 Million Stock Holdings in Gogo Inc. (NASDAQ:GOGO)

Gamco Investors INC. ET AL grew its holdings in shares of Gogo Inc. (NASDAQ:GOGO) by 5.6% during the fourth quarter, Holdings Channel reports. The firm owned 365,700 shares of the technology company’s stock after purchasing an additional 19,300 shares during the period. Gamco Investors INC. ET AL’s holdings in Gogo were worth $2,959,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Jump Financial LLC lifted its position in shares of Gogo by 760.4% in the fourth quarter. Jump Financial LLC now owns 141,233 shares of the technology company’s stock worth $1,143,000 after buying an additional 124,818 shares during the last quarter. XTX Topco Ltd acquired a new stake in Gogo in the 4th quarter worth approximately $337,000. Mariner LLC bought a new stake in Gogo during the fourth quarter worth approximately $124,000. Barclays PLC grew its holdings in Gogo by 8.1% during the fourth quarter. Barclays PLC now owns 118,919 shares of the technology company’s stock valued at $961,000 after purchasing an additional 8,960 shares during the last quarter. Finally, Quinn Opportunity Partners LLC raised its position in shares of Gogo by 13.9% in the fourth quarter. Quinn Opportunity Partners LLC now owns 271,489 shares of the technology company’s stock valued at $2,196,000 after purchasing an additional 33,164 shares during the period. Institutional investors and hedge funds own 69.60% of the company’s stock.

Insider Buying and Selling at Gogo

In other news, Director Oakleigh Thorne acquired 30,173 shares of the stock in a transaction dated Monday, March 17th. The shares were acquired at an average cost of $6.57 per share, for a total transaction of $198,236.61. Following the completion of the transaction, the director now owns 711,341 shares in the company, valued at approximately $4,673,510.37. This trade represents a 4.43 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 26.00% of the company’s stock.

Gogo Trading Up 1.0 %

Shares of GOGO stock opened at $6.97 on Friday. The firm has a market capitalization of $915.51 million, a P/E ratio of 16.21 and a beta of 0.60. Gogo Inc. has a 1 year low of $6.17 and a 1 year high of $11.00. The firm’s fifty day simple moving average is $7.57 and its 200 day simple moving average is $7.62. The company has a current ratio of 3.58, a quick ratio of 2.81 and a debt-to-equity ratio of 11.07.

Gogo (NASDAQ:GOGO) last posted its quarterly earnings data on Friday, March 14th. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.03. Gogo had a net margin of 13.94% and a return on equity of 121.96%. The company had revenue of $137.80 million for the quarter, compared to the consensus estimate of $97.80 million. During the same quarter in the previous year, the firm posted $0.11 EPS. The business’s revenue was up 40.9% compared to the same quarter last year. As a group, sell-side analysts predict that Gogo Inc. will post 0.41 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on GOGO shares. Roth Mkm lowered their target price on shares of Gogo from $15.50 to $13.00 and set a “buy” rating on the stock in a research note on Monday, March 17th. StockNews.com downgraded Gogo from a “hold” rating to a “sell” rating in a research report on Monday, March 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.