TIAA CREF Investment Management LLC reduced its stake in Gogo Inc. (NASDAQ:GOGO) by 6.8% during the first quarter, Holdings Channel reports. The institutional investor owned 153,503 shares of the technology company’s stock after selling 11,209 shares during the period. TIAA CREF Investment Management LLC’s holdings in Gogo were worth $1,689,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of GOGO. Gamco Investors INC. ET AL increased its position in Gogo by 9.0% in the first quarter. Gamco Investors INC. ET AL now owns 1,002,700 shares of the technology company’s stock valued at $11,030,000 after buying an additional 82,600 shares in the last quarter. First Trust Advisors LP purchased a new position in shares of Gogo during the first quarter worth approximately $564,000. Guggenheim Capital LLC increased its position in shares of Gogo by 0.6% in the fourth quarter. Guggenheim Capital LLC now owns 11,623 shares of the technology company’s stock worth $107,000 after buying an additional 73 shares during the period. American International Group Inc. increased its position in shares of Gogo by 7.1% in the first quarter. American International Group Inc. now owns 34,656 shares of the technology company’s stock worth $381,000 after buying an additional 2,294 shares during the period. Finally, Blair William & Co. IL increased its position in shares of Gogo by 7.2% in the first quarter. Blair William & Co. IL now owns 233,929 shares of the technology company’s stock worth $2,480,000 after buying an additional 15,638 shares during the period. 63.71% of the stock is currently owned by hedge funds and other institutional investors.
Gogo Inc. (GOGO) opened at 12.51 on Thursday. The company has a 50 day moving average of $11.96 and a 200-day moving average of $11.46. Gogo Inc. has a one year low of $8.56 and a one year high of $13.69. The firm’s market cap is $1.08 billion.
Gogo (NASDAQ:GOGO) last posted its quarterly earnings results on Monday, August 7th. The technology company reported ($0.56) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.49) by $0.07. The company had revenue of $172.80 million for the quarter, compared to analysts’ expectations of $167.63 million. During the same quarter last year, the firm earned ($0.31) EPS. The business’s revenue for the quarter was up 17.2% compared to the same quarter last year. On average, equities research analysts predict that Gogo Inc. will post ($2.02) earnings per share for the current year.
A number of equities analysts have commented on GOGO shares. Raymond James Financial, Inc. started coverage on shares of Gogo in a research note on Wednesday, May 31st. They set an “outperform” rating and a $15.00 target price on the stock. BidaskClub upgraded shares of Gogo from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th. Zacks Investment Research upgraded shares of Gogo from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Dougherty & Co lifted their price target on shares of Gogo from $17.50 to $19.00 and gave the company a “buy” rating in a research report on Sunday, May 7th. Finally, Standpoint Research cut shares of Gogo from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the stock. Gogo currently has a consensus rating of “Buy” and a consensus target price of $15.50.
Gogo Inc is a holding company. The Company is a provider of in-flight broadband connectivity and connectivity-enabled services to commercial and business aviation. The Company 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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