Quinn Opportunity Partners LLC Boosts Stake in Gogo Inc. (NASDAQ:GOGO)

Quinn Opportunity Partners LLC boosted its holdings in Gogo Inc. (NASDAQ:GOGO) by 13.9% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 271,489 shares of the technology company’s stock after acquiring an additional 33,164 shares during the quarter. Quinn Opportunity Partners LLC owned 0.22% of Gogo worth $2,196,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capula Management Ltd bought a new position in shares of Gogo in the 4th quarter worth $282,000. Renaissance Technologies LLC increased its stake in Gogo by 113.8% in the fourth quarter. Renaissance Technologies LLC now owns 766,100 shares of the technology company’s stock valued at $6,198,000 after acquiring an additional 407,800 shares during the last quarter. FMR LLC increased its stake in 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 acquiring an additional 7,821,973 shares during the last quarter. Wells Fargo & Company MN raised its position in Gogo by 47.8% during the fourth quarter. Wells Fargo & Company MN now owns 38,034 shares of the technology company’s stock valued at $308,000 after purchasing an additional 12,309 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its stake in Gogo by 22.4% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 77,269 shares of the technology company’s stock worth $625,000 after purchasing an additional 14,129 shares during the last quarter. Hedge funds and other institutional investors own 69.60% of the company’s stock.

Gogo Stock Performance

NASDAQ GOGO opened at $7.08 on Friday. The company has a 50-day simple moving average of $7.66 and a two-hundred day simple moving average of $7.62. Gogo Inc. has a 12-month low of $6.17 and a 12-month high of $11.00. The firm has a market cap of $929.96 million, a price-to-earnings 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 issued its earnings results on Friday, March 14th. The technology company reported $0.07 earnings per share 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 company had revenue of $137.80 million during the quarter, compared to analysts’ expectations of $97.80 million. During the same period in the prior year, the business posted $0.11 EPS. Gogo’s quarterly revenue was up 40.9% compared to the same quarter last year. On average, equities analysts forecast that Gogo Inc. will post 0.41 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. StockNews.com lowered Gogo from a “hold” rating to a “sell” rating in a research report on Monday, March 17th. Roth Mkm reduced their price target on shares of Gogo from $15.50 to $13.00 and set a “buy” rating on the stock in a research report on Monday, March 17th.

Insider Buying and Selling

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

Gogo Company 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.