273,000 Shares in Gogo Inc. $GOGO Purchased by Hussman Strategic Advisors Inc.

Hussman Strategic Advisors Inc. acquired a new stake in Gogo Inc. (NASDAQ:GOGO) in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm acquired 273,000 shares of the technology company’s stock, valued at approximately $2,345,000. Hussman Strategic Advisors Inc. owned about 0.20% of Gogo as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. William Blair Investment Management LLC increased its position in shares of Gogo by 124.8% during the second quarter. William Blair Investment Management LLC now owns 5,673,833 shares of the technology company’s stock valued at $83,292,000 after acquiring an additional 3,149,585 shares during the last quarter. LB Partners LLC boosted its position in Gogo by 30.0% in the third quarter. LB Partners LLC now owns 3,228,979 shares of the technology company’s stock worth $27,737,000 after purchasing an additional 745,000 shares during the last quarter. Millennium Management LLC grew its stake in Gogo by 439.5% in the 1st quarter. Millennium Management LLC now owns 709,003 shares of the technology company’s stock valued at $6,112,000 after purchasing an additional 577,575 shares during the period. Invesco Ltd. increased its position in shares of Gogo by 171.8% during the 2nd quarter. Invesco Ltd. now owns 501,944 shares of the technology company’s stock valued at $7,369,000 after purchasing an additional 317,264 shares during the last quarter. Finally, Select Equity Group L.P. raised its stake in shares of Gogo by 24.1% during the 2nd quarter. Select Equity Group L.P. now owns 500,007 shares of the technology company’s stock worth $7,340,000 after purchasing an additional 97,020 shares during the period. Institutional investors own 69.60% of the company’s stock.

Insider Buying and Selling at Gogo

In related news, insider Oakleigh Thorne acquired 170,000 shares of the firm’s stock in a transaction that occurred on Friday, December 12th. The shares were bought at an average cost of $5.34 per share, for a total transaction of $907,800.00. Following the purchase, the insider owned 954,098 shares in the company, valued at $5,094,883.32. This trade represents a 21.68% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 25.78% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. William Blair lowered shares of Gogo from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 9th. Weiss Ratings reissued a “sell (d)” rating on shares of Gogo in a research report on Monday, December 29th. Finally, Morgan Stanley set a $8.00 price target on shares of Gogo in a research note on Friday, January 16th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Gogo has a consensus rating of “Hold” and a consensus target price of $12.25.

Gogo Price Performance

Shares of NASDAQ:GOGO opened at $4.68 on Wednesday. The firm has a market capitalization of $626.42 million, a PE ratio of -93.60 and a beta of 0.96. The company has a quick ratio of 1.40, a current ratio of 1.74 and a debt-to-equity ratio of 7.79. The company has a 50-day moving average price of $5.45 and a two-hundred day moving average price of $8.96. Gogo Inc. has a twelve month low of $4.44 and a twelve month high of $16.82.

Gogo (NASDAQ:GOGO) last announced its quarterly earnings results on Thursday, November 6th. The technology company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.12). Gogo had a negative net margin of 0.65% and a positive return on equity of 71.74%. The business had revenue of $223.59 million for the quarter, compared to analysts’ expectations of $222.23 million. During the same quarter in the previous year, the company posted $0.08 earnings per share. The business’s quarterly revenue was up 122.4% compared to the same quarter last year. Equities analysts forecast that Gogo Inc. will post 0.41 EPS for the current year.

About Gogo

Gogo Inc is a leading provider of in-flight connectivity and entertainment solutions for commercial and business aviation. The company specializes in delivering broadband internet, voice and text services, and streaming entertainment to passengers at 35,000 feet. Gogo’s offerings include both air-to-ground (ATG) networks and satellite-based connectivity, enabling reliable in-flight internet access across a range of aircraft types.

Gogo’s ATG network spans the United States and portions of Canada, using ground towers to transmit data signals directly to equipped aircraft.