Public Sector Pension Investment Board Increases Stake in Gogo Inc. (NASDAQ:GOGO)

Public Sector Pension Investment Board increased its position in Gogo Inc. (NASDAQ:GOGO) by 4.6% in the 2nd quarter, HoldingsChannel reports. The fund owned 134,206 shares of the technology company’s stock after purchasing an additional 5,869 shares during the period. Public Sector Pension Investment Board’s holdings in Gogo were worth $1,291,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in the company. Burgundy Asset Management Ltd. increased its holdings in Gogo by 1.4% in the 2nd quarter. Burgundy Asset Management Ltd. now owns 3,108,226 shares of the technology company’s stock worth $29,901,000 after acquiring an additional 43,805 shares during the last quarter. Capco Asset Management LLC grew its holdings in Gogo by 1.7% during the 2nd quarter. Capco Asset Management LLC now owns 2,479,974 shares of the technology company’s stock valued at $23,857,000 after buying an additional 41,866 shares in the last quarter. William Blair Investment Management LLC grew its holdings in Gogo by 7.9% during the 2nd quarter. William Blair Investment Management LLC now owns 2,073,693 shares of the technology company’s stock valued at $19,949,000 after buying an additional 152,338 shares in the last quarter. American Century Companies Inc. grew its holdings in Gogo by 15.1% during the 2nd quarter. American Century Companies Inc. now owns 85,603 shares of the technology company’s stock valued at $824,000 after buying an additional 11,198 shares in the last quarter. Finally, Texas Permanent School Fund Corp grew its holdings in Gogo by 7.2% during the 2nd quarter. Texas Permanent School Fund Corp now owns 57,452 shares of the technology company’s stock valued at $553,000 after buying an additional 3,845 shares in the last quarter. Hedge funds and other institutional investors own 69.60% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on GOGO. Roth Mkm reaffirmed a “buy” rating and set a $15.50 target price on shares of Gogo in a report on Tuesday, September 17th. JPMorgan Chase & Co. cut their price objective on Gogo from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Finally, Morgan Stanley cut their price objective on Gogo from $12.00 to $11.00 and set an “equal weight” rating for the company in a report on Tuesday, September 3rd.

Gogo Stock Down 5.2 %

Shares of NASDAQ GOGO opened at $6.81 on Wednesday. Gogo Inc. has a 12 month low of $6.61 and a 12 month high of $12.01. The company has a current ratio of 3.95, a quick ratio of 3.16 and a debt-to-equity ratio of 11.25. The firm has a market capitalization of $865.59 million, a price-to-earnings ratio of 5.82 and a beta of 1.11. The business has a 50-day moving average of $7.77 and a 200-day moving average of $8.81.

Gogo (NASDAQ:GOGO) last released its earnings results on Wednesday, August 7th. The technology company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). The firm had revenue of $102.10 million during the quarter, compared to the consensus estimate of $99.02 million. Gogo had a return on equity of 145.01% and a net margin of 16.59%. The business’s quarterly revenue was down 1.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.20 EPS. Sell-side analysts expect that Gogo Inc. will post 0.35 earnings per share for the current fiscal year.

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.