Victory Capital Management Inc. Sells 4,146 Shares of Gogo Inc. (NASDAQ:GOGO)

Victory Capital Management Inc. reduced its stake in Gogo Inc. (NASDAQ:GOGO) by 11.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 30,805 shares of the technology company’s stock after selling 4,146 shares during the quarter. Victory Capital Management Inc.’s holdings in Gogo were worth $312,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the stock. Tenzing Global Management LLC raised its holdings in Gogo by 13.6% in the 3rd quarter. Tenzing Global Management LLC now owns 2,500,000 shares of the technology company’s stock valued at $29,825,000 after acquiring an additional 300,000 shares during the period. Burgundy Asset Management Ltd. bought a new position in Gogo in the 3rd quarter valued at about $23,850,000. Sycale Advisors NY LLC raised its holdings in Gogo by 97.5% in the 3rd quarter. Sycale Advisors NY LLC now owns 1,859,328 shares of the technology company’s stock valued at $22,182,000 after acquiring an additional 917,882 shares during the period. William Blair Investment Management LLC raised its holdings in Gogo by 21.7% in the 3rd quarter. William Blair Investment Management LLC now owns 1,633,863 shares of the technology company’s stock valued at $19,492,000 after acquiring an additional 291,486 shares during the period. Finally, LB Partners LLC bought a new position in Gogo in the 4th quarter valued at about $14,655,000. 69.60% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on GOGO shares. JPMorgan Chase & Co. initiated coverage on shares of Gogo in a report on Thursday, February 29th. They issued a “neutral” rating and a $11.00 price target on the stock. Morgan Stanley lowered their target price on shares of Gogo from $15.00 to $12.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 16th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Gogo has a consensus rating of “Hold” and a consensus target price of $15.30.

Gogo Stock Performance

Shares of Gogo stock opened at $10.44 on Friday. Gogo Inc. has a fifty-two week low of $7.53 and a fifty-two week high of $17.94. The company has a debt-to-equity ratio of 9.39, a current ratio of 4.20 and a quick ratio of 3.33. The firm has a market capitalization of $1.33 billion, a P/E ratio of 8.92 and a beta of 1.04. The company’s 50 day moving average price is $9.12 and its two-hundred day moving average price is $9.39.

Gogo (NASDAQ:GOGO) last issued its earnings results on Wednesday, February 28th. The technology company reported $0.11 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.11. Gogo had a net margin of 38.61% and a return on equity of 229.65%. The firm had revenue of $97.81 million for the quarter, compared to analyst estimates of $96.56 million. During the same quarter last year, the business posted $0.21 earnings per share. The company’s quarterly revenue was down 9.6% on a year-over-year basis. On average, equities analysts forecast that Gogo Inc. will post 0.34 earnings per share for the current fiscal year.

Insider Transactions at Gogo

In other Gogo news, Director Harris N. Williams purchased 12,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were bought at an average price of $8.10 per share, for a total transaction of $97,200.00. Following the completion of the acquisition, the director now owns 20,990 shares in the company, valued at $170,019. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Gogo news, Director Charles C. Townsend purchased 28,857 shares of the business’s stock in a transaction dated Thursday, March 14th. The shares were bought at an average price of $9.03 per share, for a total transaction of $260,578.71. Following the completion of the acquisition, the director now owns 1,740,588 shares in the company, valued at $15,717,509.64. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harris N. Williams purchased 12,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were acquired at an average price of $8.10 per share, for a total transaction of $97,200.00. Following the acquisition, the director now owns 20,990 shares of the company’s stock, valued at approximately $170,019. The disclosure for this purchase can be found here. 26.00% of the stock is owned by company insiders.

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.