Jupiter Asset Management Ltd. Takes Position in Gogo Inc. (NASDAQ:GOGO)

Jupiter Asset Management Ltd. bought a new stake in Gogo Inc. (NASDAQ:GOGO) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 25,193 shares of the technology company’s stock, valued at approximately $221,000.

A number of other hedge funds also recently modified their holdings of the business. Van ECK Associates Corp lifted its holdings in shares of Gogo by 5.7% in the fourth quarter. Van ECK Associates Corp now owns 28,332 shares of the technology company’s stock valued at $287,000 after purchasing an additional 1,538 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Gogo by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 509,592 shares of the technology company’s stock worth $5,162,000 after acquiring an additional 1,735 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in shares of Gogo by 12.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 21,320 shares of the technology company’s stock worth $187,000 after acquiring an additional 2,390 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its stake in shares of Gogo by 15.8% in the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 45,233 shares of the technology company’s stock worth $458,000 after acquiring an additional 6,179 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of Gogo by 51.8% in the first quarter. BNP Paribas Financial Markets now owns 33,221 shares of the technology company’s stock worth $292,000 after acquiring an additional 11,333 shares during the last quarter. Hedge funds and other institutional investors own 69.60% of the company’s stock.

Gogo Stock Down 1.5 %

Gogo stock traded down $0.14 during mid-day trading on Friday, hitting $9.23. 545,916 shares of the company’s stock were exchanged, compared to its average volume of 753,885. The company has a current ratio of 4.20, a quick ratio of 3.33 and a debt-to-equity ratio of 9.39. The stock has a market cap of $1.17 billion, a P/E ratio of 7.89 and a beta of 1.13. Gogo Inc. has a 1-year low of $7.53 and a 1-year high of $17.94. The stock has a 50 day moving average of $9.88 and a two-hundred day moving average of $9.27.

Gogo (NASDAQ:GOGO) last posted its earnings results on Tuesday, May 7th. The technology company reported $0.16 EPS for the quarter, topping the consensus estimate of $0.06 by $0.10. The firm had revenue of $104.32 million for the quarter, compared to the consensus estimate of $96.62 million. Gogo had a net margin of 38.61% and a return on equity of 229.65%. As a group, analysts anticipate that Gogo Inc. will post 0.35 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Morgan Stanley dropped their price target on shares of Gogo from $15.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 16th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Gogo presently has an average rating of “Hold” and a consensus target price of $15.30.

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.