Blair William & Co. IL Has $4.74 Million Stock Position in Gogo Inc. (NASDAQ:GOGO)

Blair William & Co. IL cut its stake in shares of Gogo Inc. (NASDAQ:GOGO) by 1.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 492,298 shares of the technology company’s stock after selling 6,115 shares during the period. Blair William & Co. IL owned 0.39% of Gogo worth $4,736,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new position in shares of Gogo in the second quarter valued at approximately $109,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Gogo by 67.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,285 shares of the technology company’s stock valued at $166,000 after buying an additional 6,941 shares in the last quarter. State Board of Administration of Florida Retirement System increased its position in Gogo by 12.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 21,320 shares of the technology company’s stock worth $187,000 after buying an additional 2,390 shares during the period. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Gogo during the fourth quarter worth $203,000. Finally, Jupiter Asset Management Ltd. bought a new stake in shares of Gogo in the first quarter valued at about $221,000. 69.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Roth Mkm reaffirmed a “buy” rating and set a $15.50 price target on shares of Gogo in a research report on Tuesday, September 17th. Morgan Stanley lowered their price objective on Gogo from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. cut their target price on Gogo from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th.

Gogo Price Performance

Shares of NASDAQ:GOGO opened at $6.89 on Friday. The firm has a 50 day moving average of $8.06 and a 200-day moving average of $8.89. Gogo Inc. has a 12 month low of $6.72 and a 12 month high of $12.61. The company has a current ratio of 3.95, a quick ratio of 3.16 and a debt-to-equity ratio of 11.25. The stock has a market capitalization of $875.75 million, a PE ratio of 5.89 and a beta of 1.11.

Gogo (NASDAQ:GOGO) last announced its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). Gogo had a net margin of 16.59% and a return on equity of 145.01%. The firm had revenue of $102.10 million for the quarter, compared to analyst estimates of $99.02 million. During the same quarter in the prior year, the firm earned $0.20 earnings per share. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. On average, equities research analysts predict that Gogo Inc. will post 0.35 EPS for the current fiscal year.

Gogo 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.