AXQ Capital LP Acquires New Position in Gogo Inc. (NASDAQ:GOGO)

AXQ Capital LP acquired a new stake in shares of Gogo Inc. (NASDAQ:GOGO) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 30,909 shares of the technology company’s stock, valued at approximately $250,000.

Several other large investors also recently bought and sold shares of GOGO. Semanteon Capital Management LP purchased a new stake in Gogo during the 4th quarter valued at about $138,000. Brighton Jones LLC grew its stake in shares of Gogo by 69.6% in the 4th quarter. Brighton Jones LLC now owns 17,000 shares of the technology company’s stock valued at $138,000 after buying an additional 6,978 shares during the period. Point72 DIFC Ltd grew its stake in shares of Gogo by 59.8% in the 3rd quarter. Point72 DIFC Ltd now owns 19,382 shares of the technology company’s stock valued at $139,000 after buying an additional 7,252 shares during the period. Quest Partners LLC purchased a new stake in shares of Gogo in the 3rd quarter valued at approximately $158,000. Finally, Point72 Asia Singapore Pte. Ltd. grew its stake in shares of Gogo by 110.1% in the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 23,454 shares of the technology company’s stock valued at $168,000 after buying an additional 12,289 shares during the period. Hedge funds and other institutional investors own 69.60% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on GOGO. StockNews.com cut shares of Gogo from a “hold” rating to a “sell” rating in a research note 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 for the company in a research note on Monday, March 17th.

Insiders Place Their Bets

In other Gogo news, Director Oakleigh Thorne bought 30,173 shares of Gogo stock in a transaction on Monday, March 17th. The shares were bought at an average cost of $6.57 per share, for a total transaction of $198,236.61. Following the acquisition, the director now directly owns 711,341 shares in the company, valued at $4,673,510.37. This represents a 4.43 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 26.00% of the stock is owned by company insiders.

Gogo Stock Performance

Shares of GOGO stock opened at $7.42 on Monday. The firm’s 50 day moving average price is $7.75 and its 200-day moving average price is $7.55. The company has a debt-to-equity ratio of 11.07, a quick ratio of 2.81 and a current ratio of 3.58. Gogo Inc. has a one year low of $6.17 and a one year high of $11.00. The firm has a market cap of $974.62 million, a P/E ratio of 17.26 and a beta of 1.01.

Gogo (NASDAQ:GOGO) last issued its quarterly earnings data on Friday, March 14th. The technology company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.04 by $0.03. Gogo had a net margin of 13.94% and a return on equity of 121.96%. The firm had revenue of $137.80 million for the quarter, compared to analyst estimates of $97.80 million. During the same period in the prior year, the business posted $0.11 EPS. The business’s revenue for the quarter was up 40.9% compared to the same quarter last year. As a group, equities research analysts predict that Gogo Inc. will post 0.41 EPS for the current year.

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.