AQR Capital Management LLC Makes New Investment in Gogo Inc. (NASDAQ:GOGO)

AQR Capital Management LLC bought a new position in Gogo Inc. (NASDAQ:GOGO) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 11,277 shares of the technology company’s stock, valued at approximately $108,000.

A number of other institutional investors have also added to or reduced their stakes in GOGO. BNP Paribas Financial Markets increased its position in shares of Gogo by 51.8% during the 1st quarter. BNP Paribas Financial Markets now owns 33,221 shares of the technology company’s stock valued at $292,000 after purchasing an additional 11,333 shares during the last quarter. Capstone Investment Advisors LLC bought a new position in shares of Gogo during the 1st quarter valued at about $736,000. LB Partners LLC increased its position in shares of Gogo by 31.0% during the 1st quarter. LB Partners LLC now owns 1,895,606 shares of the technology company’s stock valued at $16,643,000 after purchasing an additional 448,918 shares during the last quarter. GSA Capital Partners LLP increased its position in shares of Gogo by 102.0% during the 1st quarter. GSA Capital Partners LLP now owns 120,910 shares of the technology company’s stock valued at $1,062,000 after purchasing an additional 61,060 shares during the last quarter. Finally, William Blair Investment Management LLC increased its position in shares of Gogo by 0.8% during the 1st quarter. William Blair Investment Management LLC now owns 1,921,355 shares of the technology company’s stock valued at $16,869,000 after purchasing an additional 15,559 shares during the last quarter. 69.60% of the stock is currently owned by institutional investors.

Gogo Price Performance

GOGO opened at $7.00 on Friday. The stock’s 50 day simple moving average is $7.23 and its 200 day simple moving average is $8.63. 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 Inc. has a 1 year low of $6.17 and a 1 year high of $11.56. The firm has a market cap of $889.74 million, a price-to-earnings ratio of 5.98 and a beta of 1.09.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. JPMorgan Chase & Co. reduced their price objective on Gogo from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th. Roth Mkm restated a “buy” rating and set a $15.50 price target on shares of Gogo in a research report on Tuesday, September 17th. Finally, Morgan Stanley reduced 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.

Gogo 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.