Koshinski Asset Management Inc. reduced its stake in Gogo Inc. (NASDAQ: GOGO – Get Rating) by 12.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund held 6,945 shares of the technology company after selling 1,000 shares during the period. Koshinski Asset Management Inc.’s holdings in Gogo were worth $132,000 when it last filed with the SEC.
Several other hedge funds have also recently bought and sold stocks. Zurcher Kantonalbank Zurcher Kantonalbank increased its position in Gogo shares by 42.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,770 shares of the technology company worth $92,000 after buying 2,010 additional shares in the last quarter. The New York State Teachers’ Retirement System bought a new stock position in Gogo in the fourth quarter worth about $51,000. Ensign Peak Advisors Inc bought a new position in shares of Gogo in the fourth quarter worth approximately $159,000. Handelsbanken Fonder AB bought a new position in shares of Gogo in the fourth quarter worth approximately $162,000. Finally, ProShare Advisors LLC bought a new position in shares of Gogo in the fourth quarter worth approximately $175,000. Institutional investors hold 71.42% of the company’s shares.
NASDAQ:GOGO opened at $15.67 on Tuesday. The company has a market capitalization of $1.76 billion, a PE ratio of 12.74 and a beta of 1.11. Gogo Inc. has a fifty-two week low of $9.61 and a fifty-two week high of $23.69. The company has a 50-day moving average price of $18.22 and a 200-day moving average price of $16.62.
Gogo (NASDAQ:GOGO – Get Rating) last released its quarterly earnings data on Thursday, May 5. The technology company reported earnings per share of $0.18 for the quarter, beating consensus analyst estimates of $0.13 by $0.05. The company posted revenue of $92.75 million in the quarter, versus analyst estimates of $89.52 million. Gogo had a negative return on equity of 13.78% and a net margin of 51.50%. The company’s quarterly revenue increased by 25.6% compared to the same quarter last year. In the same quarter a year earlier, the company posted ($0.07) earnings per share. As a group, equity research analysts expect Gogo Inc. to post EPS of 0.64 for the current fiscal year.
In other Gogo news, CAO Jessica Betjemann sold 8,000 shares of the company in a trade on Thursday, May 26. The shares were sold at an average price of $19.81, for a total value of $158,480.00. Following completion of the transaction, the chief accounting officer now directly owns 25,528 shares of the company, valued at approximately $505,709.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, accessible via the SEC’s website. Additionally, Executive Vice President Marguerite M. Elias sold 30,000 shares of the company in a transaction on Tuesday, May 24. The stock was sold at an average price of $18.79, for a total transaction of $563,700.00. Following the completion of the transaction, the executive vice president now owns 54,791 shares of the company, valued at $1,029,522.89. The disclosure of this sale can be found here. Company insiders hold 32.55% of the company’s shares.
Several analysts have published reports on GOGO shares. TheStreet upgraded Gogo from a “d” rating to a “c” rating in a Tuesday, May 17 research note. JPMorgan Chase & Co. raised its target price on Gogo from $16.00 to $18.00 and gave the stock a “neutral” rating in a Monday, March 7 research note. Finally, StockNews.com began covering Gogo in a research note on Thursday, March 31. They issued a “maintaining” rating for the company. One equity research analyst has assigned the stock a sell rating, two have assigned a hold rating and two have assigned the stock a buy rating. Based on data from MarketBeat, Gogo currently has an average rating of “Hold” and a consensus target price of $19.00.
Gogo Profile (Get a rating)
Gogo Inc, through its subsidiaries, provides broadband connectivity services to the aviation industry in the United States and around the world. It operates through Commercial Aviation North America (CA-NA), Commercial Aviation Rest of World (CA-ROW) and Business Aviation (BA) segments. The company designs, builds and operates air-to-ground networks, designs and maintains proprietary hardware and software in-flight systems, and provides customizable wireless connectivity and entertainment services.
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