William Blair Investment Management LLC Has $19.61 Million Stake in Gogo Inc. (NASDAQ:GOGO)

William Blair Investment Management LLC lifted its position in shares of Gogo Inc. (NASDAQ:GOGO) by 15.8% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,424,378 shares of the technology company’s stock after purchasing an additional 330,961 shares during the quarter. William Blair Investment Management LLC owned 1.93% of Gogo worth $19,613,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC raised its position in shares of Gogo by 69.6% during the fourth quarter. Brighton Jones LLC now owns 17,000 shares of the technology company’s stock worth $138,000 after purchasing an additional 6,978 shares during the period. Point72 DIFC Ltd raised its position in shares of Gogo by 59.8% during the third quarter. Point72 DIFC Ltd now owns 19,382 shares of the technology company’s stock worth $139,000 after purchasing an additional 7,252 shares during the period. Quest Partners LLC acquired a new position in shares of Gogo during the third quarter worth approximately $158,000. Point72 Asia Singapore Pte. Ltd. raised its position in shares of Gogo by 110.1% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 23,454 shares of the technology company’s stock worth $168,000 after purchasing an additional 12,289 shares during the period. Finally, Virtu Financial LLC purchased a new stake in Gogo in the 3rd quarter valued at $169,000. 69.60% of the stock is owned by institutional investors and hedge funds.

Gogo Trading Up 7.1 %

Shares of Gogo stock opened at $6.93 on Wednesday. Gogo Inc. has a 1 year low of $6.17 and a 1 year high of $11.00. The firm has a market cap of $871.65 million, a PE ratio of 16.12 and a beta of 1.01. The stock has a fifty day moving average price of $7.74 and a 200-day moving average price of $7.56. The company has a debt-to-equity ratio of 11.07, a current ratio of 3.58 and a quick ratio of 2.81.

Gogo (NASDAQ:GOGO) last announced its 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. Gogo had a return on equity of 121.96% and a net margin of 13.94%. The firm had revenue of $137.80 million during the quarter, compared to analyst estimates of $97.80 million. During the same period last year, the firm posted $0.11 EPS. The business’s revenue was up 40.9% compared to the same quarter last year. Equities research analysts anticipate that Gogo Inc. will post 0.41 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts recently commented on GOGO shares. StockNews.com lowered Gogo from a “hold” rating to a “sell” rating in a research report on Monday. Roth Mkm lowered their price target on Gogo from $15.50 to $13.00 and set a “buy” rating for the company in a research report on Monday.

Insider Transactions at Gogo

In other news, Director Oakleigh Thorne purchased 30,173 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was bought at an average price of $6.57 per share, for a total transaction of $198,236.61. Following the purchase, the director now owns 711,341 shares of the company’s stock, valued at $4,673,510.37. The trade was a 4.43 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 26.00% of the stock is owned by corporate insiders.

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.