Ceeto Capital Group LLC Has $214,000 Position in Gogo Inc. (NASDAQ:GOGO)

Ceeto Capital Group LLC lowered its position in shares of Gogo Inc. (NASDAQ:GOGO) by 5.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,500 shares of the technology company’s stock after selling 1,500 shares during the period. Ceeto Capital Group LLC’s holdings in Gogo were worth $214,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. FMR LLC increased its stake in shares of Gogo by 138.4% in the fourth quarter. FMR LLC now owns 13,475,009 shares of the technology company’s stock valued at $109,013,000 after buying an additional 7,821,973 shares during the period. Capco Asset Management LLC increased its holdings in Gogo by 22.1% in the fourth quarter. Capco Asset Management LLC now owns 3,009,743 shares of the technology company’s stock valued at $24,349,000 after purchasing an additional 544,178 shares during the period. SCP Investment LP raised its position in Gogo by 51.0% during the 4th quarter. SCP Investment LP now owns 1,450,000 shares of the technology company’s stock worth $11,730,000 after purchasing an additional 490,000 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Gogo by 113.8% during the 4th quarter. Renaissance Technologies LLC now owns 766,100 shares of the technology company’s stock worth $6,198,000 after buying an additional 407,800 shares during the period. Finally, William Blair Investment Management LLC grew its position in shares of Gogo by 15.8% in the 4th 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 last quarter. Institutional investors and hedge funds own 69.60% of the company’s stock.

Wall Street Analysts Forecast Growth

GOGO has been the subject of a number of recent analyst reports. StockNews.com downgraded shares of Gogo from a “hold” rating to a “sell” rating in a research report on Monday, March 17th. Roth Mkm decreased their price objective on Gogo from $15.50 to $13.00 and set a “buy” rating for the company in a report on Monday, March 17th.

Insider Activity at Gogo

In related news, Director Oakleigh Thorne purchased 30,173 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were 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 in the company, valued at approximately $4,673,510.37. This represents a 4.43 % increase in their position. The acquisition 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 Price Performance

Gogo stock opened at $7.08 on Friday. Gogo Inc. has a 52 week low of $6.17 and a 52 week high of $11.00. The company’s 50 day moving average price is $7.66 and its two-hundred day moving average price is $7.62. The stock has a market cap of $929.96 million, a P/E ratio of 16.47 and a beta of 0.60. 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 (NASDAQ:GOGO) last announced its quarterly earnings data on Friday, March 14th. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $97.80 million. During the same quarter in the prior year, the company earned $0.11 EPS. The business’s revenue for the quarter was up 40.9% on a year-over-year basis. On average, equities analysts predict that Gogo Inc. will post 0.41 earnings per share for the current 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.