Victory Capital Management Inc. Purchases 55,393 Shares of Gogo Inc. (NASDAQ:GOGO)

Victory Capital Management Inc. boosted its position in shares of Gogo Inc. (NASDAQ:GOGO) by 506.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 66,323 shares of the technology company’s stock after acquiring an additional 55,393 shares during the period. Victory Capital Management Inc.’s holdings in Gogo were worth $537,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Barclays PLC raised its position in shares of Gogo by 357.5% during the third quarter. Barclays PLC now owns 109,959 shares of the technology company’s stock valued at $789,000 after buying an additional 85,925 shares during the last quarter. Van ECK Associates Corp boosted its stake in shares of Gogo by 256.1% during the fourth 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 period. State Street Corp boosted its stake in shares of Gogo by 2.1% during the third 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 period. FMR LLC boosted its stake in shares of Gogo by 13.5% during the third 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 period. Finally, Dynamic Technology Lab Private Ltd boosted its stake in shares of Gogo by 612.1% during the third 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 period. Institutional investors own 69.60% of the company’s stock.

Gogo Price Performance

Shares of GOGO stock opened at $7.42 on Friday. Gogo Inc. has a fifty-two week low of $6.17 and a fifty-two week high of $11.00. The firm has a market capitalization of $933.28 million, a price-to-earnings ratio of 17.26 and a beta of 1.01. The company has a debt-to-equity ratio of 11.07, a quick ratio of 2.81 and a current ratio of 3.58. The stock’s 50-day simple moving average is $7.75 and its 200-day simple moving average is $7.56.

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

Insider Activity at Gogo

In related news, Director Oakleigh Thorne acquired 30,173 shares of the stock in a transaction on Monday, March 17th. The shares were acquired at an average price of $6.57 per share, for a total transaction of $198,236.61. Following the transaction, the director now owns 711,341 shares in the company, valued at approximately $4,673,510.37. This trade represents a 4.43 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 26.00% of the stock is owned by insiders.

Analyst Ratings Changes

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