New York State Common Retirement Fund increased its position in Gogo Inc. (NASDAQ:GOGO – Get Rating) by 31.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 592,858 shares of the technology company’s stock after buying an additional 140,262 shares during the quarter. New York State Common Retirement Fund owned 0.54% of Gogo worth $8,021,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of GOGO. New York State Teachers Retirement System purchased a new position in shares of Gogo in the fourth quarter worth $51,000. Metropolitan Life Insurance Co NY purchased a new position in shares of Gogo in the first quarter worth $73,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Gogo by 42.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,770 shares of the technology company’s stock worth $92,000 after buying an additional 2,010 shares during the period. Royal Bank of Canada increased its stake in shares of Gogo by 50.9% in the third quarter. Royal Bank of Canada now owns 9,784 shares of the technology company’s stock worth $169,000 after buying an additional 3,301 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Gogo in the third quarter worth $186,000. 69.44% of the stock is currently owned by institutional investors.
GOGO has been the topic of several analyst reports. JPMorgan Chase & Co. lifted their target price on shares of Gogo from $16.00 to $18.00 and gave the stock a “neutral” rating in a research note on Monday, March 7th. Zacks Investment Research upgraded shares of Gogo from a “hold” rating to a “strong-buy” rating and set a $19.00 price target on the stock in a report on Monday, March 7th. Roth Capital lifted their price target on shares of Gogo from $20.50 to $21.00 in a report on Thursday, March 3rd. Finally, StockNews.com initiated coverage on shares of Gogo in a report on Thursday, March 31st. They issued a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, two have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $19.00.
Gogo (NASDAQ:GOGO – Get Rating) last announced its earnings results on Thursday, March 3rd. The technology company reported $0.17 EPS for the quarter, beating the Zacks’ consensus estimate of $0.09 by $0.08. Gogo had a net margin of 45.49% and a negative return on equity of 6.09%. The firm had revenue of $92.30 million for the quarter, compared to analysts’ expectations of $89.28 million. During the same quarter in the previous year, the business posted ($0.19) EPS. The company’s quarterly revenue was up 18.9% on a year-over-year basis. Equities research analysts expect that Gogo Inc. will post 0.65 earnings per share for the current year.
About Gogo (Get Rating)
Gogo Inc, through its subsidiaries, provides broadband connectivity services to the aviation industry in the United States and internationally. It operates through Commercial Aviation North America (CA-NA), Commercial Aviation Rest of World (CA-ROW), and Business Aviation (BA) segments. The company design, build and operate air-to-ground networks, engineer and maintain in-flight systems of proprietary hardware and software, and deliver customizable connectivity and wireless entertainment services.
- Get a free copy of the StockNews.com research report on Gogo (GOGO)
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