Capco Asset Management LLC Has $24.35 Million Stock Position in Gogo Inc. (NASDAQ:GOGO)

Capco Asset Management LLC increased its holdings in Gogo Inc. (NASDAQ:GOGO) by 22.1% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,009,743 shares of the technology company’s stock after acquiring an additional 544,178 shares during the quarter. Gogo comprises about 5.5% of Capco Asset Management LLC’s investment portfolio, making the stock its 9th biggest holding. Capco Asset Management LLC owned about 2.39% of Gogo worth $24,349,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Barclays PLC grew its position in Gogo by 357.5% during the 3rd quarter. Barclays PLC now owns 109,959 shares of the technology company’s stock valued at $789,000 after purchasing an additional 85,925 shares during the last quarter. Van ECK Associates Corp grew its position in Gogo by 256.1% during the 4th quarter. Van ECK Associates Corp now owns 154,706 shares of the technology company’s stock valued at $1,252,000 after purchasing an additional 111,267 shares during the last quarter. State Street Corp grew its position in Gogo by 2.1% during the 3rd quarter. State Street Corp now owns 2,461,691 shares of the technology company’s stock valued at $17,675,000 after purchasing an additional 51,681 shares during the last quarter. FMR LLC grew its position in Gogo by 13.5% during the 3rd quarter. FMR LLC now owns 5,653,036 shares of the technology company’s stock valued at $40,589,000 after purchasing an additional 673,315 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd grew its position in Gogo by 612.1% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 253,114 shares of the technology company’s stock valued at $1,817,000 after purchasing an additional 217,570 shares during the last quarter. 69.60% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Gogo

In other Gogo news, Director Oakleigh Thorne acquired 30,173 shares of the stock in a transaction dated Monday, March 17th. The shares were purchased at an average price of $6.57 per share, for a total transaction of $198,236.61. Following the purchase, the director now directly owns 711,341 shares of the company’s stock, valued at approximately $4,673,510.37. This trade represents a 4.43 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 26.00% of the company’s stock.

Gogo Stock Performance

Shares of NASDAQ GOGO opened at $7.42 on Friday. The firm’s 50-day moving average price is $7.75 and its 200-day moving average price is $7.56. 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 company has a market cap of $933.28 million, a PE ratio of 17.26 and a beta of 1.01. Gogo Inc. has a 52-week low of $6.17 and a 52-week high of $11.00.

Gogo (NASDAQ:GOGO) last announced 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 firm 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 quarterly revenue was up 40.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.11 EPS. As a group, analysts anticipate that Gogo Inc. will post 0.41 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. StockNews.com downgraded shares of Gogo from a “hold” rating to a “sell” rating in a research report on Monday, March 17th. Roth Mkm dropped their price target on shares of Gogo from $15.50 to $13.00 and set a “buy” rating on the stock in a report on Monday, March 17th.

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.