Fox Run Management L.L.C. Makes New $253,000 Investment in Gogo Inc. (NASDAQ:GOGO)

Fox Run Management L.L.C. purchased a new position in shares of Gogo Inc. (NASDAQ:GOGO) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 31,289 shares of the technology company’s stock, valued at approximately $253,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Brighton Jones LLC grew its position in Gogo by 69.6% in the fourth quarter. Brighton Jones LLC now owns 17,000 shares of the technology company’s stock valued at $138,000 after purchasing an additional 6,978 shares in the last quarter. Semanteon Capital Management LP bought a new position in shares of Gogo in the 4th quarter valued at about $138,000. Point72 DIFC Ltd increased its position in shares of Gogo by 59.8% in the third quarter. Point72 DIFC Ltd now owns 19,382 shares of the technology company’s stock valued at $139,000 after acquiring an additional 7,252 shares during the last quarter. Quest Partners LLC bought a new stake in Gogo during the third quarter worth about $158,000. Finally, KLP Kapitalforvaltning AS acquired a new position in Gogo during the fourth quarter valued at approximately $184,000. 69.60% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have weighed in on GOGO. Roth Mkm lowered their price target on Gogo from $15.50 to $13.00 and set a “buy” rating on the stock in a research report on Monday, March 17th. StockNews.com downgraded shares of Gogo from a “hold” rating to a “sell” rating in a report on Monday, March 17th.

Gogo Stock Performance

GOGO opened at $8.71 on Friday. The company has a quick ratio of 2.81, a current ratio of 3.58 and a debt-to-equity ratio of 11.07. Gogo Inc. has a 12-month low of $6.17 and a 12-month high of $11.00. The business has a 50 day moving average of $7.84 and a 200-day moving average of $7.57. The stock has a market cap of $1.14 billion, a price-to-earnings ratio of 20.26 and a beta of 1.01.

Gogo (NASDAQ:GOGO) last announced its quarterly earnings results on Friday, March 14th. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.03. The business had revenue of $137.80 million during the quarter, compared to the consensus estimate of $97.80 million. Gogo had a return on equity of 121.96% and a net margin of 13.94%. The company’s quarterly revenue was up 40.9% on a year-over-year basis. During the same quarter last year, the firm posted $0.11 EPS. On average, equities research analysts expect that Gogo Inc. will post 0.41 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Oakleigh Thorne acquired 30,173 shares of the business’s stock in a transaction on Monday, March 17th. The stock was purchased at an average cost of $6.57 per share, for a total transaction of $198,236.61. Following the completion of the transaction, the director now directly owns 711,341 shares of the company’s stock, valued at approximately $4,673,510.37. The trade was a 4.43 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 26.00% of the stock is currently owned by insiders.

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.