Texas Permanent School Fund Corp Boosts Stock Holdings in Gogo Inc. (NASDAQ:GOGO)

Texas Permanent School Fund Corp increased its position in Gogo Inc. (NASDAQ:GOGO) by 7.2% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 57,452 shares of the technology company’s stock after acquiring an additional 3,845 shares during the period. Texas Permanent School Fund Corp’s holdings in Gogo were worth $553,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. SG Americas Securities LLC purchased a new stake in shares of Gogo during the 2nd quarter valued at about $109,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Gogo by 67.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,285 shares of the technology company’s stock valued at $166,000 after purchasing an additional 6,941 shares during the period. Dynamic Technology Lab Private Ltd purchased a new stake in Gogo in the fourth quarter worth approximately $203,000. State Board of Administration of Florida Retirement System grew its position in Gogo by 12.6% in 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 purchasing an additional 2,390 shares during the period. Finally, Jupiter Asset Management Ltd. purchased a new stake in Gogo during the 1st quarter valued at $221,000. 69.60% of the stock is owned by institutional investors.

Analyst Ratings Changes

GOGO has been the topic of a number of research reports. Morgan Stanley dropped their price target 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. Roth Mkm reissued a “buy” rating and issued a $15.50 target price on shares of Gogo in a research report on Tuesday, September 17th. Finally, JPMorgan Chase & Co. cut their price target on Gogo from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th.

Gogo Trading Up 0.1 %

Shares of NASDAQ:GOGO opened at $6.89 on Friday. The stock has a 50 day moving average of $8.06 and a 200 day moving average of $8.89. The company has a market cap of $875.75 million, a PE ratio of 5.89 and a beta of 1.11. 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.

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

About Gogo

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.