Point72 DIFC Ltd Acquires New Position in Gogo Inc. (NASDAQ:GOGO)

Point72 DIFC Ltd purchased a new stake in shares of Gogo Inc. (NASDAQ:GOGO) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 12,130 shares of the technology company’s stock, valued at approximately $117,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its position in shares of Gogo by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 509,592 shares of the technology company’s stock worth $5,162,000 after purchasing an additional 1,735 shares during the period. State Board of Administration of Florida Retirement System lifted its holdings 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 in the last quarter. Texas Permanent School Fund Corp boosted its position in shares of Gogo by 7.2% during the second quarter. Texas Permanent School Fund Corp now owns 57,452 shares of the technology company’s stock worth $553,000 after acquiring an additional 3,845 shares during the last quarter. CANADA LIFE ASSURANCE Co grew its position 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 valued at $481,000 after purchasing an additional 5,688 shares in the last quarter. Finally, Public Sector Pension Investment Board raised its holdings in shares of Gogo by 4.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 134,206 shares of the technology company’s stock worth $1,291,000 after acquiring an additional 5,869 shares in the last quarter. Hedge funds and other institutional investors own 69.60% of the company’s stock.

Gogo Price Performance

GOGO opened at $6.81 on Wednesday. The firm has a market capitalization of $865.59 million, a PE ratio of 5.82 and a beta of 1.11. The company has a debt-to-equity ratio of 11.25, a current ratio of 3.95 and a quick ratio of 3.16. The business’s 50-day moving average is $7.72 and its two-hundred day moving average is $8.79. Gogo Inc. has a 1 year low of $6.61 and a 1 year high of $12.01.

Gogo (NASDAQ:GOGO) last announced its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.01 earnings per share 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 company had revenue of $102.10 million for the quarter, compared to analysts’ expectations of $99.02 million. During the same period last year, the firm earned $0.20 earnings per share. Gogo’s quarterly revenue was down 1.1% compared to the same quarter last year. Research analysts anticipate that Gogo Inc. will post 0.35 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Roth Mkm reissued a “buy” rating and set a $15.50 target price on shares of Gogo in a research report on Tuesday, September 17th. JPMorgan Chase & Co. lowered their target price 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. Finally, Morgan Stanley reduced their price target on shares of Gogo from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Tuesday, September 3rd.

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.