Semanteon Capital Management LP Acquires Shares of 17,045 Gogo Inc. (NASDAQ:GOGO)

Semanteon Capital Management LP acquired a new stake in shares of Gogo Inc. (NASDAQ:GOGO) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 17,045 shares of the technology company’s stock, valued at approximately $138,000.

Several other institutional investors have also added to or reduced their stakes in the business. FMR LLC lifted its holdings in Gogo by 13.5% during the third quarter. FMR LLC now owns 5,653,036 shares of the technology company’s stock valued at $40,589,000 after purchasing an additional 673,315 shares during the last quarter. State Street Corp lifted its holdings in Gogo by 2.1% during the third quarter. State Street Corp now owns 2,461,691 shares of the technology company’s stock valued at $17,675,000 after purchasing an additional 51,681 shares during the last quarter. William Blair Investment Management LLC increased its position in shares of Gogo by 15.8% during the fourth quarter. William Blair Investment Management LLC now owns 2,424,378 shares of the technology company’s stock valued at $19,613,000 after buying an additional 330,961 shares during the period. LB Partners LLC increased its position in shares of Gogo by 8.6% during the fourth quarter. LB Partners LLC now owns 2,221,092 shares of the technology company’s stock valued at $17,969,000 after buying an additional 176,092 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Gogo by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 557,732 shares of the technology company’s stock valued at $4,005,000 after buying an additional 3,181 shares during the period. 69.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Gogo news, Director Oakleigh Thorne purchased 30,173 shares of Gogo stock in a transaction on Monday, March 17th. The shares were acquired 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 ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 26.00% of the stock is owned by company insiders.

Gogo Stock Down 3.9 %

GOGO stock opened at $7.42 on Friday. The company has a current ratio of 3.58, a quick ratio of 2.81 and a debt-to-equity ratio of 11.07. The company’s 50 day moving average is $7.75 and its 200 day moving average is $7.55. The stock has a market cap of $933.28 million, a price-to-earnings ratio of 17.26 and a beta of 1.01. Gogo Inc. has a 1-year low of $6.17 and a 1-year high of $11.00.

Gogo (NASDAQ:GOGO) last posted its quarterly earnings data on Friday, March 14th. The technology company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.03. The company had revenue of $137.80 million for the quarter, compared to analysts’ expectations of $97.80 million. Gogo had a net margin of 13.94% and a return on equity of 121.96%. Gogo’s revenue for the quarter was up 40.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.11 earnings per share. Sell-side analysts predict that Gogo Inc. will post 0.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on GOGO shares. StockNews.com cut Gogo from a “hold” rating to a “sell” rating in a research report on Monday, March 17th. Roth Mkm decreased 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.

Gogo 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.