North Peak Capital Management LLC grew its stake in Gogo Inc (NASDAQ:GOGO) by 22.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,404,355 shares of the technology company’s stock after purchasing an additional 623,708 shares during the period. Gogo comprises about 7.6% of North Peak Capital Management LLC’s investment portfolio, making the stock its 9th biggest position. North Peak Capital Management LLC owned about 3.88% of Gogo worth $13,549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently made changes to their positions in the business. Parametric Portfolio Associates LLC boosted its stake in shares of Gogo by 69.2% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 94,702 shares of the technology company’s stock valued at $377,000 after purchasing an additional 38,739 shares in the last quarter. Northern Trust Corp lifted its holdings in Gogo by 1.9% during the 2nd quarter. Northern Trust Corp now owns 703,813 shares of the technology company’s stock valued at $2,801,000 after purchasing an additional 13,261 shares during the last quarter. Carlson Capital L P acquired a new position in Gogo in the second quarter valued at about $2,371,000. Charles Schwab Investment Management Inc. boosted its position in Gogo by 1.2% in the second quarter. Charles Schwab Investment Management Inc. now owns 317,229 shares of the technology company’s stock valued at $1,263,000 after buying an additional 3,726 shares in the last quarter. Finally, Oppenheimer & Co. Inc. grew its stake in Gogo by 12.9% during the second quarter. Oppenheimer & Co. Inc. now owns 27,200 shares of the technology company’s stock worth $108,000 after buying an additional 3,100 shares during the last quarter. Institutional investors own 61.18% of the company’s stock.
A number of research analysts have commented on GOGO shares. Zacks Investment Research downgraded shares of Gogo from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 14th. ValuEngine downgraded shares of Gogo from a “hold” rating to a “sell” rating in a research note on Thursday, September 5th. Finally, BidaskClub upgraded shares of Gogo from a “sell” rating to a “hold” rating in a report on Friday, September 6th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $5.75.
Shares of Gogo stock traded up $0.47 on Wednesday, hitting $5.71. The stock had a trading volume of 328,156 shares, compared to its average volume of 1,421,122. The stock has a 50 day moving average of $4.24 and a 200 day moving average of $4.61. The firm has a market capitalization of $451.79 million, a P/E ratio of -3.14 and a beta of 0.96. Gogo Inc has a twelve month low of $2.64 and a twelve month high of $7.82.
Gogo (NASDAQ:GOGO) last issued its quarterly earnings results on Thursday, August 8th. The technology company reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.59) by $0.12. The company had revenue of $213.70 million during the quarter, compared to analyst estimates of $199.62 million. The company’s quarterly revenue was down 6.1% on a year-over-year basis. During the same period in the previous year, the company posted ($0.47) EPS. On average, equities analysts anticipate that Gogo Inc will post -1.83 earnings per share for the current year.
In other Gogo news, Director Charles C. Townsend bought 100,000 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was bought at an average cost of $4.43 per share, with a total value of $443,000.00. Following the completion of the transaction, the director now directly owns 109,844 shares in the company, valued at approximately $486,608.92. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles C. Townsend bought 45,200 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were acquired at an average cost of $3.99 per share, with a total value of $180,348.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 265,851 shares of company stock valued at $1,101,013. Insiders own 41.50% of the company’s stock.
Gogo Company Profile
Gogo Inc, through its subsidiaries, provides inflight broadband connectivity and wireless entertainment services to the aviation industry in the United States and internationally. It operates through three segments: Commercial Aviation North America (CA-NA), Commercial Aviation Rest of World (CA-ROW), and Business Aviation (BA).
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