SG Americas Securities LLC Purchases 16,898 Shares of Gogo Inc. (NASDAQ:GOGO)

SG Americas Securities LLC lifted its position in Gogo Inc. (NASDAQ:GOGO) by 149.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 28,177 shares of the technology company’s stock after purchasing an additional 16,898 shares during the quarter. SG Americas Securities LLC’s holdings in Gogo were worth $202,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Point72 Asia Singapore Pte. Ltd. purchased a new position in Gogo in the second quarter worth $107,000. AQR Capital Management LLC purchased a new position in Gogo in the second quarter worth $108,000. Point72 DIFC Ltd purchased a new stake in Gogo during the second quarter valued at about $117,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Gogo by 67.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,285 shares of the technology company’s stock valued at $166,000 after buying an additional 6,941 shares during the period. Finally, State Board of Administration of Florida Retirement System boosted its position in Gogo by 12.6% during the first 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 during the period. Institutional investors own 69.60% of the company’s stock.

Wall Street Analyst Weigh In

GOGO has been the subject of several recent analyst reports. JPMorgan Chase & Co. lowered their price objective 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. Roth Mkm reaffirmed 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 decreased their price target on shares of Gogo from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 3rd.

Gogo Price Performance

GOGO stock opened at $6.92 on Wednesday. Gogo Inc. has a 1 year low of $6.17 and a 1 year high of $11.40. The company has a market cap of $879.57 million, a P/E ratio of 5.91 and a beta of 1.09. The firm has a 50-day moving average of $7.22 and a 200 day moving average of $8.61. 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 released its quarterly 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 return on equity of 145.01% and a net margin of 16.59%. The company had revenue of $102.10 million during the quarter, compared to the consensus estimate of $99.02 million. During the same period in the previous year, the company earned $0.20 earnings per share. Gogo’s quarterly revenue was down 1.1% on a year-over-year basis. On average, sell-side analysts forecast that Gogo Inc. will post 0.35 EPS for the current year.

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.