Maryland State Retirement & Pension System Sells 2,402 Shares of Gogo Inc. $GOGO

Maryland State Retirement & Pension System decreased its holdings in shares of Gogo Inc. (NASDAQ:GOGO) by 11.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,747 shares of the technology company’s stock after selling 2,402 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Gogo were worth $153,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of GOGO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Gogo by 3.6% in the fourth 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 in the last quarter. Nuveen Asset Management LLC raised its stake in shares of Gogo by 0.6% in the 4th quarter. Nuveen Asset Management LLC now owns 223,317 shares of the technology company’s stock valued at $1,807,000 after buying an additional 1,373 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Gogo by 532.9% during the 1st quarter. GAMMA Investing LLC now owns 3,595 shares of the technology company’s stock worth $31,000 after acquiring an additional 3,027 shares during the period. Price T Rowe Associates Inc. MD boosted its position in shares of Gogo by 8.9% during the 4th 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 in the last quarter. Finally, Lazard Asset Management LLC bought a new stake in Gogo in the fourth quarter valued at about $43,000. 69.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts have issued reports on GOGO shares. Roth Capital set a $16.50 price objective on Gogo and gave the stock a “buy” rating in a research note on Wednesday, June 18th. Wall Street Zen downgraded Gogo from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Finally, Morgan Stanley started coverage on Gogo in a research note on Thursday, August 14th. They issued an “equal weight” rating and a $15.00 target price for the company. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $14.83.

Insider Transactions at Gogo

In related news, EVP Michael Begler sold 107,136 shares of Gogo stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $15.00, for a total transaction of $1,607,040.00. Following the transaction, the executive vice president owned 14,454 shares of the company’s stock, valued at $216,810. This trade represents a 88.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director (Equity) Holdings Lp Silver sold 8,500,000 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $11.00, for a total transaction of $93,500,000.00. Following the transaction, the director owned 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 disclosure for this sale can be found here. 25.78% of the stock is owned by corporate insiders.

Gogo Stock Up 0.3%

Shares of NASDAQ GOGO opened at $12.06 on Wednesday. Gogo Inc. has a 1 year low of $6.17 and a 1 year high of $16.82. The firm’s 50-day moving average is $14.50 and its 200-day moving average is $10.62. The company has a current ratio of 1.71, a quick ratio of 1.32 and a debt-to-equity ratio of 8.10. The firm has a market capitalization of $1.61 billion, a PE ratio of 301.50 and a beta of 1.11.

Gogo (NASDAQ:GOGO) last posted its quarterly earnings results on Thursday, August 7th. The technology company reported $0.13 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.01. Gogo had a net margin of 1.05% and a return on equity of 88.04%. The business had revenue of $226.04 million during the quarter, compared to the consensus estimate of $220.12 million. During the same period in the previous year, the firm posted $0.01 earnings per share. Gogo’s revenue for the quarter was up 121.4% compared to the same quarter last year. Gogo has set its FY 2025 guidance at EPS. Equities analysts expect that Gogo Inc. will post 0.41 EPS for the current year.

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.