Gogo Inc. (GOGO) Shares Sold by Hodges Capital Management Inc.
Hodges Capital Management Inc. cut its position in Gogo Inc. (NASDAQ:GOGO) by 16.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,958,605 shares of the technology company’s stock after selling 590,299 shares during the quarter. Gogo makes up approximately 2.4% of Hodges Capital Management Inc.’s investment portfolio, making the stock its 6th largest holding. Hodges Capital Management Inc. owned about 3.41% of Gogo worth $34,941,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the business. American International Group Inc. increased its holdings in shares of Gogo by 7.1% during the first quarter. American International Group Inc. now owns 34,656 shares of the technology company’s stock valued at $381,000 after acquiring an additional 2,294 shares in the last quarter. Gamco Investors INC. ET AL increased its holdings in shares of Gogo by 3.0% during the second quarter. Gamco Investors INC. ET AL now owns 1,032,600 shares of the technology company’s stock valued at $11,906,000 after acquiring an additional 29,900 shares in the last quarter. Morgan Stanley increased its holdings in shares of Gogo by 15.2% during the first quarter. Morgan Stanley now owns 349,201 shares of the technology company’s stock valued at $3,841,000 after acquiring an additional 46,147 shares in the last quarter. Numeric Investors LLC acquired a new position in shares of Gogo during the second quarter valued at about $1,444,000. Finally, New York State Common Retirement Fund increased its holdings in shares of Gogo by 10.3% during the second quarter. New York State Common Retirement Fund now owns 360,047 shares of the technology company’s stock valued at $4,151,000 after acquiring an additional 33,729 shares in the last quarter. Institutional investors and hedge funds own 66.62% of the company’s stock.
Shares of Gogo Inc. (NASDAQ:GOGO) traded up $0.10 during trading hours on Tuesday, reaching $8.85. 2,188,739 shares of the company traded hands, compared to its average volume of 1,440,000. Gogo Inc. has a one year low of $8.56 and a one year high of $14.76. The company has a debt-to-equity ratio of -6.40, a quick ratio of 2.02 and a current ratio of 2.20.
Gogo (NASDAQ:GOGO) last announced its earnings results on Thursday, November 2nd. The technology company reported ($0.57) EPS for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.06). The company had revenue of $172.87 million during the quarter, compared to the consensus estimate of $172.92 million. During the same period last year, the business earned ($0.42) EPS. Gogo’s revenue for the quarter was up 17.4% compared to the same quarter last year. analysts forecast that Gogo Inc. will post -2.06 earnings per share for the current year.
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Several equities analysts have recently issued reports on the stock. Northland Securities assumed coverage on shares of Gogo in a report on Tuesday, September 19th. They set an “under perform” rating and a $6.75 price objective on the stock. ValuEngine upgraded shares of Gogo from a “sell” rating to a “hold” rating in a report on Friday, September 1st. BidaskClub upgraded shares of Gogo from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 26th. Standpoint Research downgraded shares of Gogo from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Finally, Zacks Investment Research downgraded shares of Gogo from a “hold” rating to a “sell” rating in a report on Monday, August 7th. Two analysts have rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $14.35.
Gogo Inc is a holding company. The Company is a provider of in-flight broadband connectivity and connectivity-enabled services to commercial and business aviation. The Company operates through three segments: Commercial Aviation North America (CA-NA), Commercial Aviation Rest of World (CA-ROW) and Business Aviation (BA).
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