Thrivent Financial for Lutherans Reduces Holdings in Gogo Inc. (NASDAQ:GOGO)

Thrivent Financial for Lutherans lowered its position in shares of Gogo Inc. (NASDAQ:GOGO) by 5.6% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 50,648 shares of the technology company’s stock after selling 3,003 shares during the period. Thrivent Financial for Lutherans’ holdings in Gogo were worth $487,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in GOGO. Tealwood Asset Management Inc. increased its holdings in shares of Gogo by 95.6% in the 1st quarter. Tealwood Asset Management Inc. now owns 122,246 shares of the technology company’s stock valued at $1,073,000 after acquiring an additional 59,750 shares during the period. BNP Paribas Financial Markets grew its position in Gogo by 51.8% during the 1st quarter. BNP Paribas Financial Markets now owns 33,221 shares of the technology company’s stock worth $292,000 after purchasing an additional 11,333 shares during the last quarter. Capstone Investment Advisors LLC acquired a new position in Gogo in the first quarter valued at $736,000. LB Partners LLC raised its holdings in shares of Gogo by 31.0% in the first quarter. LB Partners LLC now owns 1,895,606 shares of the technology company’s stock valued at $16,643,000 after buying an additional 448,918 shares during the last quarter. Finally, GSA Capital Partners LLP boosted its stake in shares of Gogo by 102.0% during the first quarter. GSA Capital Partners LLP now owns 120,910 shares of the technology company’s stock worth $1,062,000 after buying an additional 61,060 shares during the period. 69.60% of the stock is owned by hedge funds and other institutional investors.

Gogo Stock Up 1.1 %

Shares of NASDAQ:GOGO opened at $6.42 on Wednesday. Gogo Inc. has a fifty-two week low of $6.17 and a fifty-two week high of $12.01. The company has a quick ratio of 3.16, a current ratio of 3.95 and a debt-to-equity ratio of 11.25. The firm’s 50-day simple moving average is $7.43 and its 200-day simple moving average is $8.72. The company has a market cap of $816.01 million, a price-to-earnings ratio of 5.49 and a beta of 1.09.

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). The business had revenue of $102.10 million during 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 posted $0.20 EPS. As a group, equities research analysts predict that Gogo Inc. will post 0.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on GOGO shares. 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 report on Tuesday, September 3rd. Roth Mkm reissued a “buy” rating and issued a $15.50 target price on shares of Gogo in a 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 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.