Russell Investments Group Ltd. Acquires 4,113 Shares of Gogo Inc. (NASDAQ:GOGO)

Russell Investments Group Ltd. grew its stake in Gogo Inc. (NASDAQ:GOGO) by 16.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 29,250 shares of the technology company’s stock after purchasing an additional 4,113 shares during the period. Russell Investments Group Ltd.’s holdings in Gogo were worth $424,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. State Street Corp grew its position in Gogo by 74.2% in the second quarter. State Street Corp now owns 2,205,326 shares of the technology company’s stock valued at $35,704,000 after acquiring an additional 939,632 shares during the period. Capco Asset Management LLC increased its position in shares of Gogo by 9.2% during the 4th quarter. Capco Asset Management LLC now owns 1,413,155 shares of the technology company’s stock worth $20,858,000 after purchasing an additional 119,503 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in Gogo by 0.8% during the 4th quarter. William Blair Investment Management LLC now owns 1,221,831 shares of the technology company’s stock valued at $18,034,000 after purchasing an additional 9,703 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Gogo by 2.2% during the 4th quarter. Geode Capital Management LLC now owns 1,161,272 shares of the technology company’s stock valued at $17,140,000 after purchasing an additional 25,102 shares during the last quarter. Finally, Millennium Management LLC boosted its position in Gogo by 1,102.7% in the fourth quarter. Millennium Management LLC now owns 1,087,723 shares of the technology company’s stock valued at $16,055,000 after buying an additional 997,281 shares in the last quarter. 66.88% of the stock is owned by institutional investors and hedge funds.

Gogo Trading Up 3.4 %

Shares of GOGO opened at $11.74 on Monday. The stock’s fifty day simple moving average is $14.85 and its 200-day simple moving average is $14.83. The firm has a market capitalization of $1.51 billion, a PE ratio of 9.95 and a beta of 1.36. Gogo Inc. has a 12-month low of $11.01 and a 12-month high of $17.94. The company has a quick ratio of 3.15, a current ratio of 4.11 and a debt-to-equity ratio of 64.05.

Gogo (NASDAQ:GOGO) last released its earnings results on Monday, August 7th. The technology company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.13 by $0.07. The company had revenue of $103.22 million for the quarter, compared to the consensus estimate of $103.25 million. Gogo had a net margin of 38.08% and a negative return on equity of 124.37%. As a group, research analysts predict that Gogo Inc. will post 0.7 earnings per share for the current year.

Analysts Set New Price Targets

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

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.