Gogo Inc. (NASDAQ:GOGO) Shares Bought by Nuveen Asset Management LLC

Nuveen Asset Management LLC raised its position in shares of Gogo Inc. (NASDAQ:GOGO) by 0.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 223,317 shares of the technology company’s stock after buying an additional 1,373 shares during the quarter. Nuveen Asset Management LLC owned 0.18% of Gogo worth $1,807,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of GOGO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Gogo by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,863 shares of the technology company’s stock valued at $298,000 after purchasing an additional 1,273 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Gogo by 8.9% in 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 acquiring an additional 5,078 shares during the period. Principal Financial Group Inc. lifted its position in Gogo by 1.9% in the fourth quarter. Principal Financial Group Inc. now owns 287,890 shares of the technology company’s stock worth $2,329,000 after purchasing an additional 5,420 shares during the period. Lazard Asset Management LLC bought a new position in Gogo in the fourth quarter worth $43,000. Finally, MetLife Investment Management LLC lifted its holdings in shares of Gogo by 18.3% during the fourth quarter. MetLife Investment Management LLC now owns 36,216 shares of the technology company’s stock valued at $293,000 after acquiring an additional 5,613 shares during the period. 69.60% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

GOGO has been the subject of a number of research reports. Roth Mkm lowered their target price 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 0.4%

Shares of Gogo stock opened at $10.80 on Wednesday. Gogo Inc. has a 12-month low of $6.17 and a 12-month high of $13.16. The stock has a market cap of $1.43 billion, a P/E ratio of 25.12 and a beta of 0.93. The company has a quick ratio of 2.81, a current ratio of 3.58 and a debt-to-equity ratio of 11.07. The business’s 50 day moving average is $8.95 and its 200-day moving average is $8.21.

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