Northern Trust Corp decreased its position in shares of Gogo Inc (NASDAQ:GOGO) by 0.7% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 686,846 shares of the technology company’s stock after selling 5,056 shares during the quarter. Northern Trust Corp owned approximately 0.79% of Gogo worth $2,054,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of GOGO. Pinnacle Associates Ltd. purchased a new position in shares of Gogo in the fourth quarter worth $46,000. MetLife Investment Advisors LLC raised its stake in shares of Gogo by 56.3% in the third quarter. MetLife Investment Advisors LLC now owns 42,843 shares of the technology company’s stock worth $222,000 after purchasing an additional 15,424 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Gogo by 47.0% in the fourth quarter. Rhumbline Advisers now owns 75,404 shares of the technology company’s stock worth $225,000 after purchasing an additional 24,117 shares during the last quarter. Man Group plc purchased a new position in shares of Gogo in the third quarter worth $343,000. Finally, Teachers Advisors LLC raised its stake in shares of Gogo by 33.6% in the third quarter. Teachers Advisors LLC now owns 373,014 shares of the technology company’s stock worth $1,936,000 after purchasing an additional 93,763 shares during the last quarter. Institutional investors own 57.61% of the company’s stock.
In other Gogo news, Director Charles C. Townsend acquired 277,405 shares of the company’s stock in a transaction dated Wednesday, February 27th. The stock was purchased at an average price of $4.36 per share, with a total value of $1,209,485.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Charles C. Townsend acquired 64,389 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was acquired at an average cost of $5.48 per share, with a total value of $352,851.72. The disclosure for this purchase can be found here. Corporate insiders own 36.20% of the company’s stock.
GOGO has been the subject of a number of research reports. Zacks Investment Research upgraded Gogo from a “hold” rating to a “buy” rating and set a $4.50 price objective for the company in a research report on Monday, January 28th. Roth Capital initiated coverage on Gogo in a research report on Monday, May 13th. They set a “buy” rating and a $10.00 price objective for the company. Finally, BidaskClub upgraded Gogo from a “hold” rating to a “buy” rating in a research report on Wednesday, May 15th. One research analyst has rated the stock with a sell rating, two have given a hold rating and six have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $7.04.
NASDAQ:GOGO traded down $0.20 during mid-day trading on Wednesday, hitting $5.59. 955,600 shares of the company traded hands, compared to its average volume of 1,517,296. Gogo Inc has a one year low of $2.64 and a one year high of $7.82. The firm has a market capitalization of $518.90 million, a PE ratio of -3.05 and a beta of 1.35.
Gogo (NASDAQ:GOGO) last released its quarterly earnings data on Thursday, May 9th. The technology company reported ($0.21) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.52) by $0.31. The business had revenue of $199.55 million during the quarter, compared to the consensus estimate of $198.00 million. The business’s revenue was down 13.9% on a year-over-year basis. During the same period last year, the company earned ($0.34) EPS. On average, equities analysts anticipate that Gogo Inc will post -1.8 earnings per share for the current year.
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Gogo Inc, through its subsidiaries, provides inflight broadband connectivity and wireless entertainment services to the aviation industry in the United States and internationally. It operates through three segments: Commercial Aviation North America (CA-NA), Commercial Aviation Rest of World (CA-ROW), and Business Aviation (BA).
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