Public Sector Pension Investment Board Has $1.29 Million Position in Gogo Inc. (NASDAQ:GOGO)

Public Sector Pension Investment Board boosted its holdings in Gogo Inc. (NASDAQ:GOGO) by 4.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 134,206 shares of the technology company’s stock after purchasing an additional 5,869 shares during the quarter. Public Sector Pension Investment Board owned about 0.11% of Gogo worth $1,291,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Charles Schwab Investment Management Inc. grew its position in Gogo by 0.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 509,592 shares of the technology company’s stock valued at $5,162,000 after purchasing an additional 1,735 shares during the period. 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 valued at $187,000 after purchasing an additional 2,390 shares during the period. Texas Permanent School Fund Corp grew its position in Gogo by 7.2% in the 2nd quarter. Texas Permanent School Fund Corp now owns 57,452 shares of the technology company’s stock valued at $553,000 after purchasing an additional 3,845 shares during the period. CANADA LIFE ASSURANCE Co grew its position in Gogo by 11.6% in the 1st 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 during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position 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 purchasing an additional 6,941 shares during the period. Institutional investors and hedge funds own 69.60% of the company’s stock.

Wall Street Analysts Forecast Growth

GOGO has been the topic of several recent analyst reports. JPMorgan Chase & Co. dropped their price objective on Gogo from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Roth Mkm restated a “buy” rating and set a $15.50 price objective on shares of Gogo in a research note on Tuesday, September 17th. Finally, Morgan Stanley dropped 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.

Gogo Price Performance

Shares of NASDAQ:GOGO opened at $6.81 on Wednesday. The stock has a market cap of $865.59 million, a PE ratio of 5.82 and a beta of 1.11. Gogo Inc. has a 1-year low of $6.61 and a 1-year high of $12.01. 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’s fifty day simple moving average is $7.77 and its two-hundred day simple moving average is $8.81.

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

Gogo Company 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.