Gogo Inc. (NASDAQ:GOGO) Shares Sold by Bridgefront Capital LLC

Bridgefront Capital LLC lessened its holdings in shares of Gogo Inc. (NASDAQ:GOGOFree Report) by 39.1% in the fourth quarter, HoldingsChannel reports. The fund owned 16,141 shares of the technology company’s stock after selling 10,347 shares during the period. Bridgefront Capital LLC’s holdings in Gogo were worth $131,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Van ECK Associates Corp boosted its stake in Gogo by 256.1% during the 4th quarter. Van ECK Associates Corp now owns 154,706 shares of the technology company’s stock valued at $1,252,000 after purchasing an additional 111,267 shares in the last quarter. Amundi boosted its stake in Gogo by 142.9% during the fourth quarter. Amundi now owns 26,387 shares of the technology company’s stock valued at $200,000 after buying an additional 15,525 shares in the last quarter. LB Partners LLC grew its holdings in Gogo by 8.6% during the fourth quarter. LB Partners LLC now owns 2,221,092 shares of the technology company’s stock worth $17,969,000 after acquiring an additional 176,092 shares during the period. Barclays PLC lifted its holdings in Gogo by 357.5% in the 3rd quarter. Barclays PLC now owns 109,959 shares of the technology company’s stock valued at $789,000 after acquiring an additional 85,925 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its position in shares of Gogo by 1.9% during the 4th quarter. Principal Financial Group Inc. now owns 287,890 shares of the technology company’s stock valued at $2,329,000 after purchasing an additional 5,420 shares in the last quarter. 69.60% of the stock is owned by institutional investors and hedge funds.

Gogo Stock Performance

Shares of GOGO opened at $10.98 on Friday. The company has a 50-day moving average of $7.52 and a two-hundred day moving average of $7.72. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 25.53 and a beta of 0.93. The company has a debt-to-equity ratio of 11.07, a current ratio of 3.58 and a quick ratio of 2.81. Gogo Inc. has a one year low of $6.17 and a one year high of $11.34.

Gogo (NASDAQ:GOGOGet Free Report) last posted its quarterly earnings data on Friday, May 9th. The technology company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.05 by $0.04. Gogo had a net margin of 13.94% and a return on equity of 121.96%. The firm had revenue of $230.31 million during the quarter, compared to analyst estimates of $214.93 million. During the same quarter last year, the business posted $0.23 EPS. The company’s revenue was up 120.8% on a year-over-year basis. On average, equities research analysts expect that Gogo Inc. will post 0.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on GOGO. StockNews.com downgraded shares of Gogo from a “hold” rating to a “sell” rating in a report on Monday, March 17th. Roth Mkm cut their price objective on Gogo from $15.50 to $13.00 and set a “buy” rating for the company in a research report on Monday, March 17th.

Read Our Latest Stock Analysis on Gogo

Insider Activity

In other Gogo news, Director Oakleigh Thorne acquired 30,173 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was purchased at an average cost of $6.57 per share, for a total transaction of $198,236.61. Following the transaction, the director now owns 711,341 shares of the company’s stock, valued at $4,673,510.37. The trade was a 4.43 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 26.00% of the stock is currently owned by corporate insiders.

About Gogo

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Gogo (NASDAQ:GOGO)

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