Charles Schwab Investment Management Inc. Has $5.16 Million Position in Gogo Inc. (NASDAQ:GOGO)

Charles Schwab Investment Management Inc. grew its position in Gogo Inc. (NASDAQ:GOGOFree Report) by 0.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 509,592 shares of the technology company’s stock after buying an additional 1,735 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.40% of Gogo worth $5,162,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in GOGO. Ballentine Partners LLC acquired a new position in shares of Gogo in the 4th quarter valued at approximately $140,000. Teza Capital Management LLC acquired a new position in shares of Gogo in the 3rd quarter valued at approximately $158,000. Corton Capital Inc. raised its position in shares of Gogo by 62.5% in the 3rd quarter. Corton Capital Inc. now owns 17,400 shares of the technology company’s stock valued at $208,000 after buying an additional 6,695 shares in the last quarter. Van ECK Associates Corp raised its position in shares of Gogo by 5.7% in the 4th quarter. Van ECK Associates Corp now owns 28,332 shares of the technology company’s stock valued at $287,000 after buying an additional 1,538 shares in the last quarter. Finally, Louisiana State Employees Retirement System acquired a new position in shares of Gogo in the 4th quarter valued at approximately $313,000. 69.60% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Gogo news, Director Charles C. Townsend bought 28,857 shares of Gogo stock in a transaction on Thursday, March 14th. The shares were purchased at an average cost of $9.03 per share, with a total value of $260,578.71. Following the acquisition, the director now directly owns 1,740,588 shares of the company’s stock, valued at approximately $15,717,509.64. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 26.00% of the company’s stock.

Gogo Trading Down 0.4 %

Shares of Gogo stock opened at $10.54 on Tuesday. The firm has a market capitalization of $1.34 billion, a PE ratio of 9.01 and a beta of 1.05. The company has a current ratio of 4.20, a quick ratio of 3.33 and a debt-to-equity ratio of 9.39. The firm’s 50 day moving average is $9.37 and its 200 day moving average is $9.39. Gogo Inc. has a 1 year low of $7.53 and a 1 year high of $17.94.

Gogo (NASDAQ:GOGOGet Free Report) last announced its quarterly earnings results on Tuesday, May 7th. The technology company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.10. Gogo had a net margin of 38.61% and a return on equity of 229.65%. The company had revenue of $104.32 million for the quarter, compared to analyst estimates of $96.62 million. Equities research analysts forecast that Gogo Inc. will post 0.34 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently commented on GOGO shares. Morgan Stanley dropped their target price on shares of Gogo from $15.00 to $12.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 16th. JPMorgan Chase & Co. began coverage on shares of Gogo in a report on Thursday, February 29th. They set a “neutral” rating and a $11.00 price target on the stock. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $15.30.

View Our Latest Research Report on GOGO

Gogo Profile

(Free Report)

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.

Featured Articles

Institutional Ownership by Quarter for Gogo (NASDAQ:GOGO)

Receive News & Ratings for Gogo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gogo and related companies with MarketBeat.com's FREE daily email newsletter.