Rhumbline Advisers Has $1.85 Million Stock Position in Gogo Inc. (NASDAQ:GOGO)

Rhumbline Advisers trimmed its stake in shares of Gogo Inc. (NASDAQ:GOGO) by 6.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 192,433 shares of the technology company’s stock after selling 13,332 shares during the quarter. Rhumbline Advisers owned 0.15% of Gogo worth $1,851,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in GOGO. Burgundy Asset Management Ltd. boosted its holdings in Gogo by 27.7% during the first quarter. Burgundy Asset Management Ltd. now owns 3,064,421 shares of the technology company’s stock valued at $26,906,000 after purchasing an additional 664,803 shares in the last quarter. LB Partners LLC boosted its holdings in Gogo by 31.0% during the first 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 in the last quarter. Capstone Investment Advisors LLC acquired a new stake in Gogo during the first quarter valued at approximately $736,000. GSA Capital Partners LLP boosted its holdings in shares of Gogo by 102.0% in the 1st quarter. GSA Capital Partners LLP now owns 120,910 shares of the technology company’s stock worth $1,062,000 after acquiring an additional 61,060 shares in the last quarter. Finally, Tealwood Asset Management Inc. boosted 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 worth $1,073,000 after acquiring an additional 59,750 shares in the last quarter. 69.60% of the stock is owned by institutional investors and hedge funds.

Gogo Stock Up 0.1 %

NASDAQ:GOGO opened at $6.89 on Friday. The stock’s fifty day moving average price is $8.06 and its two-hundred day moving average price is $8.89. Gogo Inc. has a 52-week low of $6.72 and a 52-week high of $12.61. The company has a debt-to-equity ratio of 11.25, a quick ratio of 3.16 and a current ratio of 3.95. The company has a market cap of $875.75 million, a price-to-earnings ratio of 5.89 and a beta of 1.11.

Gogo (NASDAQ:GOGO) last posted its quarterly earnings data 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). The firm had revenue of $102.10 million for the quarter, compared to analyst estimates of $99.02 million. Gogo had a return on equity of 145.01% and a net margin of 16.59%. The firm’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.20 EPS. On average, analysts anticipate that Gogo Inc. will post 0.35 EPS for the current year.

Analyst Ratings Changes

Several research analysts have recently commented on GOGO shares. Roth Mkm reissued a “buy” rating and issued a $15.50 target price on shares of Gogo in a report on Tuesday. Morgan Stanley reduced their target price on Gogo from $12.00 to $11.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. reduced their target price on Gogo from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th.

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.