Vanguard Group Inc. Acquires 485,145 Shares of Gogo Inc. $GOGO

Vanguard Group Inc. boosted its holdings in shares of Gogo Inc. (NASDAQ:GOGO) by 9.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,695,358 shares of the technology company’s stock after purchasing an additional 485,145 shares during the period. Vanguard Group Inc. owned about 4.31% of Gogo worth $49,094,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of GOGO. GAMMA Investing LLC raised its position in Gogo by 532.9% in the 1st quarter. GAMMA Investing LLC now owns 3,595 shares of the technology company’s stock worth $31,000 after purchasing an additional 3,027 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in Gogo during the 4th quarter worth $43,000. State of Wyoming acquired a new position in shares of Gogo in the 4th quarter valued at $57,000. Teza Capital Management LLC acquired a new position in shares of Gogo in the 4th quarter valued at $110,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Gogo in the 1st quarter valued at $111,000. 69.60% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Gogo news, CEO Christopher John Moore bought 10,000 shares of the firm’s stock in a transaction dated Friday, August 8th. The stock was bought at an average cost of $12.11 per share, with a total value of $121,100.00. Following the completion of the transaction, the chief executive officer directly owned 10,000 shares in the company, valued at approximately $121,100. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Michael Begler sold 107,136 shares of the company’s stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $15.00, for a total transaction of $1,607,040.00. Following the completion of the sale, the executive vice president directly owned 14,454 shares of the company’s stock, valued at $216,810. The trade was a 88.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 25.78% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on GOGO. Roth Capital set a $16.50 target price on shares of Gogo and gave the stock a “buy” rating in a research note on Wednesday, June 18th. Wall Street Zen cut shares of Gogo from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Morgan Stanley initiated coverage on shares of Gogo in a report on Thursday, August 14th. They issued an “equal weight” rating and a $15.00 target price on the stock. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.83.

Gogo Stock Performance

Shares of Gogo stock opened at $11.12 on Tuesday. Gogo Inc. has a fifty-two week low of $6.17 and a fifty-two week high of $16.82. The company has a debt-to-equity ratio of 8.10, a current ratio of 1.71 and a quick ratio of 1.32. The firm has a market capitalization of $1.49 billion, a P/E ratio of 278.00 and a beta of 1.11. The company’s 50 day moving average price is $14.46 and its two-hundred day moving average price is $10.72.

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

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.