Quarry LP Takes $175,000 Position in Gogo Inc. (NASDAQ:GOGO)

Quarry LP bought a new stake in Gogo Inc. (NASDAQ:GOGO) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 24,335 shares of the technology company’s stock, valued at approximately $175,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new stake in Gogo during the 3rd quarter valued at approximately $34,000. Brighton Jones LLC purchased a new position in shares of Gogo during the third quarter worth $72,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Gogo during the second quarter valued at $107,000. AQR Capital Management LLC purchased a new stake in Gogo in the second quarter valued at $108,000. Finally, SG Americas Securities LLC acquired a new stake in Gogo during the 2nd quarter worth about $109,000. Hedge funds and other institutional investors own 69.60% of the company’s stock.

Wall Street Analysts Forecast Growth

GOGO has been the subject of several analyst reports. Roth Mkm reissued a “buy” rating and issued a $15.50 price objective on shares of Gogo in a report on Tuesday, September 17th. Morgan Stanley decreased their price target on Gogo from $12.00 to $11.00 and set an “equal weight” rating for the company in a report on Tuesday, September 3rd.

Gogo Stock Up 4.9 %

GOGO opened at $7.74 on Friday. The company has a fifty day moving average of $7.36 and a two-hundred day moving average of $8.25. The stock has a market capitalization of $973.54 million, a price-to-earnings ratio of 18.00 and a beta of 1.18. Gogo Inc. has a fifty-two week low of $6.17 and a fifty-two week high of $11.17. The company has a debt-to-equity ratio of 11.07, a quick ratio of 2.81 and a current ratio of 3.58.

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.