Gogo Inc. (NASDAQ:GOGO) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. reduced its holdings in Gogo Inc. (NASDAQ:GOGO) by 13.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 66,036 shares of the technology company’s stock after selling 10,030 shares during the quarter. Alliancebernstein L.P. owned about 0.05% of Gogo worth $534,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of GOGO. Semanteon Capital Management LP purchased a new position in Gogo in the fourth quarter worth $138,000. Brighton Jones LLC increased its holdings in shares of Gogo by 69.6% in the 4th quarter. Brighton Jones LLC now owns 17,000 shares of the technology company’s stock valued at $138,000 after purchasing an additional 6,978 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Gogo in the third quarter valued at about $169,000. KLP Kapitalforvaltning AS purchased a new stake in Gogo during the fourth quarter worth about $184,000. Finally, Amundi grew its position in Gogo by 142.9% during the fourth quarter. Amundi now owns 26,387 shares of the technology company’s stock worth $200,000 after buying an additional 15,525 shares during the period. 69.60% of the stock is owned by institutional investors and hedge funds.

Gogo Stock Performance

NASDAQ:GOGO opened at $6.97 on Monday. The company has a current ratio of 3.58, a quick ratio of 2.81 and a debt-to-equity ratio of 11.07. The company has a market capitalization of $915.51 million, a P/E ratio of 16.21 and a beta of 0.60. The firm has a 50-day moving average price of $7.55 and a two-hundred day moving average price of $7.64. Gogo Inc. has a twelve month low of $6.17 and a twelve month high of $11.00.

Gogo (NASDAQ:GOGO) last issued its quarterly earnings data on Friday, March 14th. The technology company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. Gogo had a net margin of 13.94% and a return on equity of 121.96%. The business had revenue of $137.80 million during the quarter, compared to analysts’ expectations of $97.80 million. During the same period last year, the company posted $0.11 EPS. The company’s revenue was up 40.9% on a year-over-year basis. As a group, research analysts expect that Gogo Inc. will post 0.41 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Oakleigh Thorne purchased 30,173 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were bought at an average price of $6.57 per share, for a total transaction of $198,236.61. Following the acquisition, the director now directly owns 711,341 shares in the company, valued at $4,673,510.37. This trade represents a 4.43 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 26.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on GOGO shares. StockNews.com lowered Gogo from a “hold” rating to a “sell” rating in a research note on Monday, March 17th. Roth Mkm decreased their target price on Gogo from $15.50 to $13.00 and set a “buy” rating on the stock in a research report on Monday, March 17th.

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.