New York State Teachers Retirement System Has $464,000 Holdings in Gogo Inc. (NASDAQ:GOGO)

New York State Teachers Retirement System lessened its stake in shares of Gogo Inc. (NASDAQ:GOGO) by 3.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 45,827 shares of the technology company’s stock after selling 1,682 shares during the period. New York State Teachers Retirement System’s holdings in Gogo were worth $464,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Ballentine Partners LLC acquired a new stake in Gogo during the 4th quarter worth about $140,000. American Century Companies Inc. acquired a new position in shares of Gogo in the 3rd quarter valued at about $200,000. Comerica Bank acquired a new position in shares of Gogo in the 3rd quarter valued at about $347,000. Tudor Investment Corp Et Al increased its holdings in shares of Gogo by 49.6% in the 3rd quarter. Tudor Investment Corp Et Al now owns 117,810 shares of the technology company’s stock valued at $1,405,000 after purchasing an additional 39,073 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Gogo by 25.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 35,081 shares of the technology company’s stock valued at $419,000 after purchasing an additional 7,054 shares during the period. Institutional investors and hedge funds own 69.60% of the company’s stock.

Insiders Place Their Bets

In related news, Director Harris N. Williams bought 12,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was purchased at an average price of $8.10 per share, with a total value of $97,200.00. Following the completion of the transaction, the director now directly owns 20,990 shares of the company’s stock, valued at $170,019. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, Director Charles C. Townsend bought 28,857 shares of the firm’s stock in a transaction on Thursday, March 14th. The stock was purchased at an average price of $9.03 per share, with a total value of $260,578.71. Following the completion of the transaction, the director now directly owns 1,740,588 shares of the company’s stock, valued at $15,717,509.64. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Harris N. Williams bought 12,000 shares of the firm’s stock in a transaction on Thursday, February 29th. The shares were bought at an average cost of $8.10 per share, with a total value of $97,200.00. Following the transaction, the director now directly owns 20,990 shares of the company’s stock, valued at $170,019. The disclosure for this purchase can be found here. Company insiders own 26.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on GOGO shares. JPMorgan Chase & Co. started coverage on Gogo in a report on Thursday, February 29th. They issued a “neutral” rating and a $11.00 target price on the stock. Morgan Stanley dropped their target price on Gogo from $15.00 to $12.00 and set an “equal weight” rating on the stock in a report on Tuesday. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Gogo currently has an average rating of “Hold” and a consensus target price of $15.30.

Gogo Trading Up 1.6 %

Shares of NASDAQ GOGO opened at $8.37 on Friday. The stock has a market cap of $1.07 billion, a price-to-earnings ratio of 7.68 and a beta of 1.08. The business has a 50 day simple moving average of $8.80 and a 200 day simple moving average of $9.68. Gogo Inc. has a 52 week low of $7.53 and a 52 week high of $17.94. The company has a debt-to-equity ratio of 14.43, a quick ratio of 3.49 and a current ratio of 4.37.

Gogo (NASDAQ:GOGO) last announced its quarterly earnings results on Wednesday, February 28th. The technology company reported $0.11 EPS for the quarter, meeting the consensus estimate of $0.11. The business had revenue of $97.81 million during the quarter, compared to analysts’ expectations of $96.56 million. Gogo had a negative return on equity of 7,172.73% and a net margin of 36.64%. The firm’s quarterly revenue was down 9.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.21 EPS. On average, research analysts predict that Gogo Inc. will post 0.36 earnings per share for the current fiscal year.

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.