Ameriprise Financial Inc. Decreases Holdings in Gogo Inc. (NASDAQ:GOGO)

Ameriprise Financial Inc. cut its stake in shares of Gogo Inc. (NASDAQ:GOGO) by 5.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 138,132 shares of the technology company’s stock after selling 8,365 shares during the period. Ameriprise Financial Inc. owned about 0.11% of Gogo worth $1,117,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in GOGO. Jane Street Group LLC increased its position in Gogo by 36.0% during the fourth quarter. Jane Street Group LLC now owns 233,746 shares of the technology company’s stock valued at $1,891,000 after acquiring an additional 61,837 shares during the last quarter. One68 Global Capital LLC purchased a new stake in Gogo during the fourth quarter valued at approximately $375,000. Nantahala Capital Management LLC increased its holdings in Gogo by 441.5% during the fourth quarter. Nantahala Capital Management LLC now owns 2,574,642 shares of the technology company’s stock valued at $20,829,000 after buying an additional 2,099,145 shares during the last quarter. Aquatic Capital Management LLC purchased a new stake in Gogo during the fourth quarter valued at approximately $278,000. Finally, Price T Rowe Associates Inc. MD increased its holdings in Gogo by 8.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 62,032 shares of the technology company’s stock valued at $502,000 after buying an additional 5,078 shares during the last quarter. 69.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on GOGO. Roth Mkm reduced their price objective on Gogo from $15.50 to $13.00 and set a “buy” rating for the company in a research note on Monday, March 17th. Wall Street Zen upgraded Gogo from a “hold” rating to a “buy” rating in a research report on Thursday, May 22nd.

Gogo Trading Up 0.3%

Gogo stock opened at $10.75 on Monday. The firm has a 50 day moving average of $8.86 and a 200 day moving average of $8.17. 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 firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of 25.00 and a beta of 0.93. Gogo Inc. has a 12-month low of $6.17 and a 12-month high of $13.16.

Gogo (NASDAQ:GOGO) last announced its quarterly earnings data on Friday, May 9th. The technology company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.13. Gogo had a net margin of 13.94% and a return on equity of 121.96%. The firm had revenue of $230.31 million during the quarter, compared to analysts’ expectations of $214.93 million. During the same period in the prior year, the company posted $0.23 earnings per share. The company’s revenue for the quarter was up 120.8% compared to the same quarter last year. As a group, research analysts predict that Gogo Inc. will post 0.41 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Oakleigh Thorne bought 30,173 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was bought at an average cost of $6.57 per share, with a total value of $198,236.61. Following the completion of the purchase, the director now owns 711,341 shares of the company’s stock, valued at approximately $4,673,510.37. The trade was a 4.43% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director (Equity) Holdings Lp Silver sold 8,500,000 shares of the firm’s stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $11.00, for a total value of $93,500,000.00. Following the transaction, the director now owns 4,174,482 shares of the company’s stock, valued at approximately $45,919,302. The trade was a 67.06% decrease in their position. The disclosure for this sale can be found here. 25.78% of the stock is currently owned by company insiders.

Gogo Company 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.