Gogo Inc. (NASDAQ:GOGO) Shares Sold by Yarra Square Partners LP

Yarra Square Partners LP decreased its position in Gogo Inc. (NASDAQ:GOGO) by 14.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 441,388 shares of the technology company’s stock after selling 76,112 shares during the quarter. Gogo comprises about 3.8% of Yarra Square Partners LP’s holdings, making the stock its 11th largest position. Yarra Square Partners LP owned 0.35% of Gogo worth $4,246,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Burgundy Asset Management Ltd. raised its stake in Gogo by 1.4% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 3,108,226 shares of the technology company’s stock valued at $29,901,000 after purchasing an additional 43,805 shares during the last quarter. Capco Asset Management LLC increased its stake in shares of Gogo by 1.7% during the 2nd quarter. Capco Asset Management LLC now owns 2,479,974 shares of the technology company’s stock valued at $23,857,000 after acquiring an additional 41,866 shares during the last quarter. William Blair Investment Management LLC increased its stake in shares of 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 acquiring an additional 152,338 shares during the last quarter. American Century Companies Inc. increased its stake in shares of Gogo by 15.1% during the 2nd quarter. American Century Companies Inc. now owns 85,603 shares of the technology company’s stock valued at $824,000 after acquiring an additional 11,198 shares during the last quarter. Finally, Texas Permanent School Fund Corp increased its stake in shares of Gogo by 7.2% during the 2nd quarter. Texas Permanent School Fund Corp now owns 57,452 shares of the technology company’s stock valued at $553,000 after acquiring an additional 3,845 shares during the last quarter. Institutional investors and hedge funds own 69.60% of the company’s stock.

Gogo Stock Up 0.1 %

Shares of NASDAQ:GOGO opened at $6.89 on Friday. 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 Inc. has a 1 year low of $6.72 and a 1 year high of $12.61. The stock has a market capitalization of $875.75 million, a P/E ratio of 5.89 and a beta of 1.11. The stock has a 50-day simple moving average of $8.06 and a 200-day simple moving average of $8.89.

Gogo (NASDAQ:GOGO) last issued 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 firm had revenue of $102.10 million for the quarter, compared to analysts’ expectations of $99.02 million. During the same quarter in the previous year, the firm posted $0.20 EPS. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. Equities analysts forecast that Gogo Inc. will post 0.35 earnings per share for the current year.

Wall Street Analyst Weigh In

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

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.