Victory Capital Management Inc. Buys 55,393 Shares of Gogo Inc. (NASDAQ:GOGO)

Victory Capital Management Inc. grew its stake in Gogo Inc. (NASDAQ:GOGO) by 506.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 66,323 shares of the technology company’s stock after purchasing an additional 55,393 shares during the quarter. Victory Capital Management Inc. owned about 0.05% of Gogo worth $537,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Principal Financial Group Inc. increased its stake in shares of Gogo by 1.9% in the 4th quarter. Principal Financial Group Inc. now owns 287,890 shares of the technology company’s stock worth $2,329,000 after acquiring an additional 5,420 shares in the last quarter. Van ECK Associates Corp grew its position in Gogo by 256.1% during the 4th quarter. Van ECK Associates Corp now owns 154,706 shares of the technology company’s stock valued at $1,252,000 after purchasing an additional 111,267 shares during the last quarter. LB Partners LLC grew its position in Gogo by 8.6% during the 4th quarter. LB Partners LLC now owns 2,221,092 shares of the technology company’s stock valued at $17,969,000 after purchasing an additional 176,092 shares during the last quarter. Brighton Jones LLC grew its position in Gogo by 69.6% during the 4th quarter. Brighton Jones LLC now owns 17,000 shares of the technology company’s stock valued at $138,000 after purchasing an additional 6,978 shares during the last quarter. Finally, SG Americas Securities LLC grew its position in Gogo by 25.4% during the 4th quarter. SG Americas Securities LLC now owns 35,333 shares of the technology company’s stock valued at $286,000 after purchasing an additional 7,156 shares during the last quarter. 69.60% of the stock is currently owned by institutional investors.

Insider Transactions at Gogo

In other news, Director Oakleigh Thorne bought 30,173 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were bought at an average price of $6.57 per share, for a total transaction of $198,236.61. Following the purchase, the director now owns 711,341 shares in the company, valued at approximately $4,673,510.37. The trade was a 4.43 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 26.00% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on GOGO shares. Roth Mkm cut their price objective on shares of Gogo from $15.50 to $13.00 and set a “buy” rating on the stock in a research report on Monday, March 17th. StockNews.com downgraded shares of Gogo from a “hold” rating to a “sell” rating in a report on Monday, March 17th.

Gogo Price Performance

Shares of NASDAQ:GOGO opened at $7.42 on Friday. The firm’s 50 day moving average price is $7.75 and its 200-day moving average price is $7.56. Gogo Inc. has a twelve month low of $6.17 and a twelve month high of $11.00. The company has a quick ratio of 2.81, a current ratio of 3.58 and a debt-to-equity ratio of 11.07. The stock has a market capitalization of $933.28 million, a PE ratio of 17.26 and a beta of 1.01.

Gogo (NASDAQ:GOGO) last issued its quarterly earnings data on Friday, March 14th. The technology company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.03. Gogo had a net margin of 13.94% and a return on equity of 121.96%. The firm had revenue of $137.80 million for the quarter, compared to analysts’ expectations of $97.80 million. During the same quarter in the prior year, the business earned $0.11 EPS. The business’s quarterly revenue was up 40.9% on a year-over-year basis. Equities research analysts expect that Gogo Inc. will post 0.41 EPS for the current 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.