Capco Asset Management LLC Increases Stock Holdings in Gogo Inc. (NASDAQ:GOGO)

Capco Asset Management LLC increased its stake in Gogo Inc. (NASDAQ:GOGO) by 1.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,479,974 shares of the technology company’s stock after buying an additional 41,866 shares during the quarter. Gogo makes up 5.6% of Capco Asset Management LLC’s holdings, making the stock its 10th biggest position. Capco Asset Management LLC owned about 1.95% of Gogo worth $23,857,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GOGO. Burgundy Asset Management Ltd. increased its position in Gogo by 27.7% during the first quarter. Burgundy Asset Management Ltd. now owns 3,064,421 shares of the technology company’s stock worth $26,906,000 after buying an additional 664,803 shares during the last quarter. LB Partners LLC raised its stake in Gogo by 31.0% in the 1st quarter. LB Partners LLC now owns 1,895,606 shares of the technology company’s stock valued at $16,643,000 after acquiring an additional 448,918 shares during the period. William Blair Investment Management LLC lifted its holdings in Gogo by 7.9% during the 2nd quarter. William Blair Investment Management LLC now owns 2,073,693 shares of the technology company’s stock valued at $19,949,000 after purchasing an additional 152,338 shares during the last quarter. Capstone Investment Advisors LLC bought a new position in Gogo during the first quarter worth $736,000. Finally, Los Angeles Capital Management LLC acquired a new position in shares of Gogo in the second quarter valued at $757,000. 69.60% of the stock is owned by institutional investors.

Gogo Trading Down 2.2 %

GOGO stock opened at $6.78 on Thursday. Gogo Inc. has a 52 week low of $6.72 and a 52 week high of $12.75. The company has a market capitalization of $861.77 million, a PE ratio of 5.79 and a beta of 1.11. The company’s 50-day simple moving average is $8.14 and its 200 day simple moving average is $8.91. The company has a debt-to-equity ratio of 11.25, a quick ratio of 3.16 and a current ratio of 3.95.

Gogo (NASDAQ:GOGO) last announced its earnings results on Wednesday, August 7th. The technology company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). Gogo had a return on equity of 145.01% and a net margin of 16.59%. The business had revenue of $102.10 million for the quarter, compared to analyst estimates of $99.02 million. During the same quarter in the previous year, the company earned $0.20 EPS. The business’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Gogo Inc. will post 0.35 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on GOGO. Morgan Stanley cut their target price on shares of Gogo from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 3rd. Roth Mkm restated a “buy” rating and set a $15.50 price objective on shares of Gogo in a report on Tuesday. Finally, JPMorgan Chase & Co. decreased their target price on Gogo from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th.

Gogo Company Profile

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.