PEAK6 Investments LLC Decreases Stock Position in Gogo Inc. (NASDAQ:GOGO)

PEAK6 Investments LLC lessened its stake in Gogo Inc. (NASDAQ:GOGO) by 34.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,769 shares of the technology company’s stock after selling 25,417 shares during the quarter. PEAK6 Investments LLC’s holdings in Gogo were worth $350,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GOGO. nVerses Capital LLC purchased a new position in Gogo in the 3rd quarter worth approximately $34,000. Brighton Jones LLC purchased a new position in Gogo in the 3rd quarter worth approximately $72,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Gogo during the 2nd quarter valued at approximately $107,000. AQR Capital Management LLC purchased a new position in shares of Gogo during the 2nd quarter valued at approximately $108,000. Finally, SG Americas Securities LLC purchased a new position in shares of Gogo during the 2nd quarter valued at approximately $109,000. Hedge funds and other institutional investors own 69.60% of the company’s stock.

Gogo Stock Performance

GOGO stock opened at $7.56 on Thursday. The company has a current ratio of 3.58, a quick ratio of 2.81 and a debt-to-equity ratio of 11.07. The firm has a market cap of $950.89 million, a P/E ratio of 17.58 and a beta of 1.18. Gogo Inc. has a 12-month low of $6.17 and a 12-month high of $11.17. The stock’s 50 day simple moving average is $7.34 and its 200 day simple moving average is $8.28.

Wall Street Analyst Weigh In

GOGO has been the subject of several research analyst reports. Morgan Stanley reduced their target price on Gogo from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. reduced their target price on Gogo from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Finally, Roth Mkm reiterated a “buy” rating and set a $15.50 target price on shares of Gogo in a research note on Tuesday, September 17th.

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.