Gogo Inc. (NASDAQ:GOGO) Stake Raised by Geode Capital Management LLC
Geode Capital Management LLC raised its position in Gogo Inc. (NASDAQ:GOGO) by 4.0% during the first quarter, Holdings Channel reports. The institutional investor owned 478,126 shares of the technology company’s stock after buying an additional 18,374 shares during the period. Geode Capital Management LLC’s holdings in Gogo were worth $5,259,000 at the end of the most recent quarter.
Other institutional investors have also bought and sold shares of the company. Guggenheim Capital LLC raised its position in Gogo by 0.6% in the fourth quarter. Guggenheim Capital LLC now owns 11,623 shares of the technology company’s stock worth $107,000 after buying an additional 73 shares in the last quarter. Arxis Securities LLC acquired a new position in Gogo during the first quarter worth approximately $112,000. Principal Financial Group Inc. acquired a new position in Gogo during the first quarter worth approximately $114,000. Parkwood LLC raised its position in Gogo by 3.4% in the first quarter. Parkwood LLC now owns 11,089 shares of the technology company’s stock worth $122,000 after buying an additional 363 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI raised its position in Gogo by 1.4% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 12,775 shares of the technology company’s stock worth $141,000 after buying an additional 180 shares in the last quarter. 63.71% of the stock is currently owned by institutional investors.
Shares of Gogo Inc. (NASDAQ:GOGO) traded up 0.72% during trading on Friday, hitting $12.56. The stock had a trading volume of 469,314 shares. The stock has a 50 day moving average price of $12.00 and a 200-day moving average price of $11.50. Gogo Inc. has a one year low of $8.56 and a one year high of $13.69. The stock’s market capitalization is $1.09 billion.
Gogo (NASDAQ:GOGO) last announced its quarterly earnings data on Monday, August 7th. The technology company reported ($0.56) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.49) by $0.07. The firm had revenue of $172.80 million during the quarter, compared to the consensus estimate of $167.63 million. Gogo’s revenue for the quarter was up 17.2% compared to the same quarter last year. During the same quarter last year, the company earned ($0.31) earnings per share. On average, equities research analysts predict that Gogo Inc. will post ($2.02) earnings per share for the current year.
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A number of equities analysts have commented on the company. Dougherty & Co boosted their price objective on Gogo from $16.00 to $17.50 and gave the stock a “buy” rating in a research note on Monday, May 1st. Zacks Investment Research raised Gogo from a “hold” rating to a “buy” rating and set a $14.00 price objective on the stock in a research note on Wednesday, May 3rd. BidaskClub lowered Gogo from a “hold” rating to a “sell” rating in a research note on Tuesday, July 11th. UBS AG reissued a “buy” rating and issued a $15.00 price objective (up previously from $14.00) on shares of Gogo in a research note on Friday, May 5th. Finally, Standpoint Research lowered Gogo from a “buy” rating to a “hold” rating in a research note on Friday, August 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $15.50.
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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