Gogo Inc. (NASDAQ:GOGO) Shares Acquired by Marshall Wace LLP

Marshall Wace LLP increased its holdings in shares of Gogo Inc. (NASDAQ:GOGO) by 285.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 65,139 shares of the technology company’s stock after acquiring an additional 48,239 shares during the quarter. Marshall Wace LLP owned about 0.05% of Gogo worth $527,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. Gamco Investors INC. ET AL grew its position in shares of Gogo by 5.6% in the fourth quarter. Gamco Investors INC. ET AL now owns 365,700 shares of the technology company’s stock valued at $2,959,000 after purchasing an additional 19,300 shares in the last quarter. Jump Financial LLC grew its holdings in Gogo by 760.4% in the 4th quarter. Jump Financial LLC now owns 141,233 shares of the technology company’s stock valued at $1,143,000 after buying an additional 124,818 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of Gogo in the 4th quarter worth $337,000. Mariner LLC purchased a new position in shares of Gogo during the 4th quarter worth $124,000. Finally, Barclays PLC boosted its position in shares of Gogo by 8.1% during the 4th quarter. Barclays PLC now owns 118,919 shares of the technology company’s stock valued at $961,000 after acquiring an additional 8,960 shares during the last quarter. Hedge funds and other institutional investors own 69.60% of the company’s stock.

Gogo Stock Up 3.0 %

Shares of NASDAQ:GOGO opened at $7.80 on Friday. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 18.14 and a beta of 0.60. Gogo Inc. has a 12-month low of $6.17 and a 12-month high of $11.00. The business has a 50-day moving average price of $7.42 and a 200 day moving average price of $7.68. The company has a current ratio of 3.58, a quick ratio of 2.81 and a debt-to-equity ratio of 11.07.

Gogo (NASDAQ:GOGO) last released its quarterly earnings results on Friday, March 14th. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.03. The business had revenue of $137.80 million for the quarter, compared to the consensus estimate of $97.80 million. Gogo had a net margin of 13.94% and a return on equity of 121.96%. The business’s revenue was up 40.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.11 EPS. Sell-side analysts expect that Gogo Inc. will post 0.41 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on GOGO shares. StockNews.com cut shares of Gogo from a “hold” rating to a “sell” rating in a research report on Monday, March 17th. Roth Mkm cut their price target on shares of Gogo from $15.50 to $13.00 and set a “buy” rating for the company in a report on Monday, March 17th.

Insider Activity

In other news, Director Oakleigh Thorne bought 30,173 shares of the company’s stock in a transaction 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 transaction, the director now directly owns 711,341 shares in the company, valued at $4,673,510.37. The trade was a 4.43 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 26.00% of the company’s stock.

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.