S. Muoio & CO. LLC Purchases 48,000 Shares of Gogo Inc. (GOGO)
S. Muoio & CO. LLC boosted its stake in shares of Gogo Inc. (NASDAQ:GOGO) by 22.9% during the second quarter, Holdings Channel reports. The fund owned 258,010 shares of the technology company’s stock after buying an additional 48,000 shares during the period. Gogo makes up about 1.4% of S. Muoio & CO. LLC’s portfolio, making the stock its 21st largest position. S. Muoio & CO. LLC’s holdings in Gogo were worth $2,975,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Harbour Capital Advisors LLC boosted its position in shares of Gogo by 667.6% in the second quarter. Harbour Capital Advisors LLC now owns 2,296,811 shares of the technology company’s stock valued at $199,203,000 after buying an additional 1,997,608 shares during the last quarter. Hodges Capital Management Inc. boosted its position in shares of Gogo by 47.0% in the first quarter. Hodges Capital Management Inc. now owns 4,109,815 shares of the technology company’s stock valued at $45,208,000 after buying an additional 1,314,245 shares during the last quarter. Daiwa Securities Group Inc. boosted its position in shares of Gogo by 60.0% in the first quarter. Daiwa Securities Group Inc. now owns 605,000 shares of the technology company’s stock valued at $6,655,000 after buying an additional 226,794 shares during the last quarter. Engineers Gate Manager LP purchased a new position in shares of Gogo during the first quarter valued at $1,678,000. Finally, Norges Bank purchased a new position in shares of Gogo during the fourth quarter valued at $1,095,000. 63.35% of the stock is currently owned by hedge funds and other institutional investors.
Gogo Inc. (NASDAQ GOGO) opened at 13.05 on Tuesday. Gogo Inc. has a 52-week low of $8.56 and a 52-week high of $13.69. The firm’s market cap is $1.13 billion. The firm has a 50-day moving average of $12.03 and a 200-day moving average of $11.56.
Gogo (NASDAQ:GOGO) last issued its quarterly earnings results 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 business had revenue of $172.80 million during the quarter, compared to analysts’ expectations of $167.63 million. During the same quarter last year, the firm posted ($0.31) earnings per share. The company’s revenue was up 17.2% compared to the same quarter last year. Equities analysts anticipate that Gogo Inc. will post ($2.02) EPS for the current year.
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A number of research firms have commented on GOGO. Zacks Investment Research raised shares of Gogo from a “hold” rating to a “buy” rating and set a $14.00 target price on the stock in a research report on Wednesday, May 3rd. Dougherty & Co upped their target price on shares of Gogo from $16.00 to $17.50 and gave the company a “buy” rating in a research report on Monday, May 1st. Raymond James Financial, Inc. began coverage on shares of Gogo in a research report on Wednesday, May 31st. They issued an “outperform” rating and a $15.00 target price on the stock. ValuEngine raised shares of Gogo from a “sell” rating to a “hold” rating in a research report on Tuesday, June 6th. Finally, BidaskClub cut shares of Gogo from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $15.50.
Gogo Company Profile
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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