American Century Companies Inc. Increases Stake in Gogo Inc. (NASDAQ:GOGO)

American Century Companies Inc. boosted its holdings in shares of Gogo Inc. (NASDAQ:GOGO) by 15.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,603 shares of the technology company’s stock after acquiring an additional 11,198 shares during the period. American Century Companies Inc. owned about 0.07% of Gogo worth $824,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also added to or reduced their stakes in the company. Capstone Investment Advisors LLC purchased a new stake in Gogo during the first quarter valued at approximately $736,000. 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 valued at $187,000 after buying an additional 2,390 shares in the last quarter. Price T Rowe Associates Inc. MD raised its stake in Gogo by 26.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 55,236 shares of the technology company’s stock valued at $485,000 after buying an additional 11,505 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Gogo in the second quarter worth about $109,000. Finally, CANADA LIFE ASSURANCE Co grew its stake in shares of Gogo by 11.6% during the first quarter. CANADA LIFE ASSURANCE Co now owns 54,770 shares of the technology company’s stock worth $481,000 after acquiring an additional 5,688 shares during the last quarter. Hedge funds and other institutional investors own 69.60% of the company’s stock.

Gogo Stock Down 5.2 %

Shares of NASDAQ GOGO opened at $6.81 on Wednesday. Gogo Inc. has a 1 year low of $6.61 and a 1 year high of $12.01. The company has a market capitalization of $865.59 million, a P/E ratio of 6.14 and a beta of 1.11. The company has a 50 day simple moving average of $7.77 and a 200-day simple moving average of $8.81. The company has a debt-to-equity ratio of 11.25, a current ratio of 3.95 and a quick ratio of 3.16.

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 net margin of 16.59% and a return on equity of 145.01%. The firm had revenue of $102.10 million during the quarter, compared to analysts’ expectations of $99.02 million. During the same period in the previous year, the firm earned $0.20 EPS. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. On average, equities research analysts predict that Gogo Inc. will post 0.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GOGO. JPMorgan Chase & Co. reduced their target price on 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 target price on Gogo from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 3rd. Finally, Roth Mkm reissued a “buy” rating and set a $15.50 price target on shares of Gogo in a research report on Tuesday, September 17th.

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.