Texas Permanent School Fund Takes Position in Gogo Inc. (NASDAQ:GOGO)

Texas Permanent School Fund bought a new stake in Gogo Inc. (NASDAQ:GOGOGet Rating) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 49,381 shares of the technology company’s stock, valued at approximately $799,000.

Other large investors also recently modified their holdings of the company. Great West Life Assurance Co. Can increased its position in Gogo by 41.0% in the first quarter. Great West Life Assurance Co. Can now owns 2,178 shares of the technology company’s stock worth $44,000 after buying an additional 633 shares during the last quarter. O Dell Group LLC bought a new stake in shares of Gogo in the 1st quarter worth approximately $76,000. KBC Group NV bought a new stake in shares of Gogo in the 2nd quarter worth approximately $97,000. Amalgamated Bank bought a new stake in shares of Gogo in the 1st quarter worth approximately $139,000. Finally, Point72 Hong Kong Ltd lifted its holdings in shares of Gogo by 369.7% in the 1st quarter. Point72 Hong Kong Ltd now owns 8,017 shares of the technology company’s stock worth $153,000 after acquiring an additional 6,310 shares during the last quarter. Institutional investors own 88.14% of the company’s stock.

Gogo Stock Down 1.6 %

NASDAQ:GOGO opened at $14.92 on Monday. The company has a fifty day moving average of $13.42 and a 200 day moving average of $15.73. Gogo Inc. has a 52 week low of $11.57 and a 52 week high of $23.69. The firm has a market capitalization of $1.90 billion, a P/E ratio of 7.10 and a beta of 1.25.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GOGO. StockNews.com upgraded shares of Gogo from a “sell” rating to a “hold” rating in a report on Thursday. Cowen boosted their price objective on shares of Gogo to $26.00 in a report on Monday, August 15th. Finally, Morgan Stanley upgraded shares of Gogo from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $14.00 to $15.00 in a report on Tuesday, November 1st.

Gogo Company Profile

(Get Rating)

Gogo Inc, through its subsidiaries, provides broadband connectivity services to the aviation industry in the United States and internationally. It operates through Commercial Aviation North America (CA-NA), Commercial Aviation Rest of World (CA-ROW), and Business Aviation (BA) segments. The company design, build and operate air-to-ground networks, engineer and maintain in-flight systems of proprietary hardware and software, and deliver customizable connectivity and wireless entertainment services.

Further Reading

Institutional Ownership by Quarter for Gogo (NASDAQ:GOGO)

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