Intech Investment Management LLC Acquires New Shares in Gogo Inc. (NASDAQ:GOGO)

Intech Investment Management LLC acquired a new position in shares of Gogo Inc. (NASDAQ:GOGO) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 103,021 shares of the technology company’s stock, valued at approximately $740,000. Intech Investment Management LLC owned approximately 0.08% of Gogo as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in GOGO. Select Equity Group L.P. bought a new stake in shares of Gogo during the second quarter valued at about $2,764,000. LB Partners LLC increased its holdings in Gogo by 12.4% during the 3rd quarter. LB Partners LLC now owns 2,045,000 shares of the technology company’s stock worth $14,683,000 after acquiring an additional 225,000 shares during the period. William Blair Investment Management LLC lifted its stake in Gogo by 7.9% in the 2nd quarter. William Blair Investment Management LLC now owns 2,073,693 shares of the technology company’s stock worth $19,949,000 after purchasing an additional 152,338 shares in the last quarter. Millennium Management LLC boosted its holdings in Gogo by 19.0% in the 2nd quarter. Millennium Management LLC now owns 814,833 shares of the technology company’s stock valued at $7,839,000 after purchasing an additional 130,344 shares during the period. Finally, Los Angeles Capital Management LLC bought a new position in Gogo in the 2nd quarter valued at $757,000. Institutional investors own 69.60% of the company’s stock.

Gogo Stock Performance

NASDAQ GOGO opened at $8.03 on Friday. Gogo Inc. has a 52-week low of $6.17 and a 52-week high of $11.17. The company has a fifty day moving average of $7.29 and a 200-day moving average of $8.36. The company has a market capitalization of $1.01 billion, a P/E ratio of 18.67 and a beta of 1.10. The company has a debt-to-equity ratio of 11.07, a quick ratio of 2.81 and a current ratio of 3.58.

Wall Street Analysts Forecast Growth

GOGO has been the topic of a number of recent analyst reports. Morgan Stanley lowered their price objective on Gogo from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research report on Tuesday, September 3rd. Roth Mkm restated a “buy” rating and issued a $15.50 target price on shares of Gogo in a research note on Tuesday, September 17th. Finally, JPMorgan Chase & Co. dropped their price target on Gogo from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th.

Gogo Profile

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.