BNP Paribas Financial Markets Decreases Holdings in Gogo Inc. (NASDAQ:GOGO)

BNP Paribas Financial Markets reduced its stake in Gogo Inc. (NASDAQ:GOGO) by 49.1% during the third quarter, according to its most recent filing with the SEC. The fund owned 20,109 shares of the technology company’s stock after selling 19,408 shares during the quarter. BNP Paribas Financial Markets’ holdings in Gogo were worth $144,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in the stock. nVerses Capital LLC purchased a new stake in Gogo in the 3rd quarter worth about $34,000. Brighton Jones LLC bought a new position in Gogo during the third quarter worth about $72,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Gogo in the second quarter worth about $107,000. AQR Capital Management LLC purchased a new position in shares of Gogo in the second quarter worth about $108,000. Finally, SG Americas Securities LLC bought a new stake in shares of Gogo in the second quarter valued at approximately $109,000. Institutional investors own 69.60% of the company’s stock.

Gogo Stock Performance

Shares of GOGO stock opened at $8.01 on Wednesday. The company has a market capitalization of $1.01 billion, a P/E ratio of 18.60 and a beta of 1.18. Gogo Inc. has a fifty-two week low of $6.17 and a fifty-two week high of $11.17. The company has a debt-to-equity ratio of 11.07, a quick ratio of 2.81 and a current ratio of 3.58. The stock has a 50 day moving average price of $7.52 and a two-hundred day moving average price of $8.11.

Analyst Upgrades and Downgrades

Several research analysts have commented on GOGO shares. Roth Mkm restated a “buy” rating and issued a $15.50 target price on shares of Gogo in a research note on Tuesday, September 17th. Morgan Stanley cut their price objective on shares of Gogo from $12.00 to $11.00 and set an “equal weight” rating for the company in a research report on Tuesday, September 3rd.

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.