ExodusPoint Capital Management LP Takes $1.61 Million Position in Gogo Inc. (NASDAQ:GOGO)

ExodusPoint Capital Management LP purchased a new stake in shares of Gogo Inc. (NASDAQ:GOGO) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 110,964 shares of the technology company’s stock, valued at approximately $1,609,000. ExodusPoint Capital Management LP owned approximately 0.09% of Gogo as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Royal Bank of Canada boosted its holdings in Gogo by 76.6% in the third quarter. Royal Bank of Canada now owns 3,069 shares of the technology company’s stock worth $37,000 after purchasing an additional 1,331 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in Gogo by 432.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,609 shares of the technology company’s stock worth $39,000 after purchasing an additional 2,119 shares in the last quarter. Great West Life Assurance Co. Can boosted its holdings 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 purchasing an additional 633 shares in the last quarter. UBS Group AG boosted its holdings in Gogo by 41.7% in the third quarter. UBS Group AG now owns 4,033 shares of the technology company’s stock worth $49,000 after purchasing an additional 1,186 shares in the last quarter. Finally, Dark Forest Capital Management LP bought a new stake in Gogo in the fourth quarter worth $57,000. 66.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

GOGO has been the subject of a number of recent analyst reports. Northland Securities decreased their price target on shares of Gogo from $16.00 to $14.00 in a report on Tuesday, August 8th. TheStreet cut shares of Gogo from a “b-” rating to a “c+” rating in a report on Thursday, August 24th. Roth Mkm decreased their price target on shares of Gogo from $22.50 to $19.50 and set a “buy” rating for the company in a report on Tuesday, August 8th. StockNews.com initiated coverage on shares of Gogo in a report on Thursday, August 17th. They set a “hold” rating for the company. Finally, TD Cowen decreased their price target on shares of Gogo from $26.00 to $22.00 and set an “outperform” rating for the company in a report on Monday, August 14th. Two analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Gogo presently has an average rating of “Moderate Buy” and an average price target of $17.63.

Gogo Stock Up 3.4 %

Shares of GOGO opened at $11.74 on Friday. The company has a 50-day simple moving average of $14.85 and a 200-day simple moving average of $14.84. The firm has a market capitalization of $1.51 billion, a P/E ratio of 9.95 and a beta of 1.35. The company has a debt-to-equity ratio of 64.05, a quick ratio of 3.15 and a current ratio of 4.11. Gogo Inc. has a 52 week low of $11.01 and a 52 week high of $17.94.

Gogo (NASDAQ:GOGO) last announced its quarterly earnings data on Monday, August 7th. The technology company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.13 by $0.07. The business had revenue of $103.22 million during the quarter, compared to analyst estimates of $103.25 million. Gogo had a net margin of 38.08% and a negative return on equity of 124.37%. On average, equities research analysts expect that Gogo Inc. will post 0.7 earnings per share for the current year.

Gogo Profile

Gogo Inc, through its subsidiaries, provides broadband connectivity services to the aviation industry in the United States and internationally. The company operates through Commercial Aviation-North America, Commercial Aviation-Rest of World, and Business Aviation segments. Its platform include networks, antennas, and airborne equipment and software.