AXQ Capital LP Takes Position in Gogo Inc. (NASDAQ:GOGO)

AXQ Capital LP acquired a new stake in shares of Gogo Inc. (NASDAQ:GOGO) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 30,909 shares of the technology company’s stock, valued at approximately $250,000.

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC lifted its position in Gogo by 69.6% during 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 during the period. Semanteon Capital Management LP acquired a new position in Gogo during the fourth quarter valued at $138,000. Point72 DIFC Ltd lifted its position in Gogo by 59.8% during the third quarter. Point72 DIFC Ltd now owns 19,382 shares of the technology company’s stock valued at $139,000 after purchasing an additional 7,252 shares during the period. Quest Partners LLC acquired a new position in Gogo during the third quarter valued at $158,000. Finally, Point72 Asia Singapore Pte. Ltd. lifted its position in Gogo by 110.1% during the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 23,454 shares of the technology company’s stock valued at $168,000 after purchasing an additional 12,289 shares during the period. 69.60% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Gogo

In related news, Director Oakleigh Thorne bought 30,173 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was acquired at an average price of $6.57 per share, with a total value of $198,236.61. Following the completion of the purchase, the director now directly owns 711,341 shares of the company’s stock, valued at approximately $4,673,510.37. This trade represents a 4.43 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 26.00% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on GOGO. Roth Mkm decreased their target price on shares of Gogo from $15.50 to $13.00 and set a “buy” rating for the company in a research report on Monday, March 17th. StockNews.com downgraded shares of Gogo from a “hold” rating to a “sell” rating in a research report on Monday, March 17th.

Gogo Trading Down 3.9 %

Shares of Gogo stock opened at $7.42 on Monday. The firm has a 50-day simple moving average of $7.75 and a two-hundred day simple moving average of $7.55. The company has a market cap of $974.62 million, a P/E ratio of 17.26 and a beta of 1.01. Gogo Inc. has a fifty-two week low of $6.17 and a fifty-two week high of $11.00. 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 (NASDAQ:GOGO) last released its earnings results on Friday, March 14th. The technology company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. The business had revenue of $137.80 million during 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%. The company’s quarterly revenue was up 40.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.11 earnings per share. As a group, equities analysts predict that Gogo Inc. will post 0.41 earnings per share for the current fiscal year.

About Gogo

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.