New York State Teachers Retirement System Sells 2,134 Shares of Gogo Inc. (NASDAQ:GOGO)

New York State Teachers Retirement System reduced its stake in Gogo Inc. (NASDAQ:GOGOGet Rating) by 3.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,072 shares of the technology company’s stock after selling 2,134 shares during the period. New York State Teachers Retirement System’s holdings in Gogo were worth $692,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. State Street Corp grew its stake in Gogo by 74.2% in the 2nd quarter. State Street Corp now owns 2,205,326 shares of the technology company’s stock worth $35,704,000 after acquiring an additional 939,632 shares in the last quarter. Capco Asset Management LLC grew its stake in Gogo by 2.3% in the 2nd quarter. Capco Asset Management LLC now owns 1,286,829 shares of the technology company’s stock worth $20,834,000 after acquiring an additional 29,337 shares in the last quarter. Renaissance Technologies LLC grew its stake in Gogo by 43.9% in the 2nd quarter. Renaissance Technologies LLC now owns 903,401 shares of the technology company’s stock worth $14,626,000 after acquiring an additional 275,501 shares in the last quarter. Sycale Advisors NY LLC grew its stake in Gogo by 298.8% in the 2nd quarter. Sycale Advisors NY LLC now owns 714,030 shares of the technology company’s stock worth $11,560,000 after acquiring an additional 534,996 shares in the last quarter. Finally, Penn Capital Management Company LLC grew its stake in Gogo by 26.6% in the 1st quarter. Penn Capital Management Company LLC now owns 623,249 shares of the technology company’s stock worth $8,600,000 after acquiring an additional 131,019 shares in the last quarter. 64.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research firms have recently issued reports on GOGO. Morgan Stanley upgraded shares of Gogo from an “underweight” rating to an “equal weight” rating and increased their price objective for the company from $14.00 to $15.00 in a research note on Tuesday, November 1st. StockNews.com downgraded shares of Gogo from a “hold” rating to a “sell” rating in a research note on Friday, January 13th.

Gogo Stock Performance

NASDAQ GOGO opened at $15.39 on Friday. The company has a market cap of $1.96 billion, a PE ratio of 7.33 and a beta of 1.25. Gogo Inc. has a 52-week low of $11.57 and a 52-week high of $23.69. The firm’s 50 day moving average price is $15.34 and its 200-day moving average price is $14.90.

Gogo (NASDAQ:GOGOGet Rating) last announced its earnings results on Thursday, November 3rd. The technology company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.14 by $0.01. The company had revenue of $105.32 million during the quarter, compared to the consensus estimate of $101.89 million. Gogo had a net margin of 72.93% and a negative return on equity of 39.26%. On average, analysts forecast that Gogo Inc. will post 0.62 earnings per share for the current fiscal year.

Gogo Company Profile

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Gogo Inc, through its subsidiaries, provides broadband connectivity services to the aviation industry in the United States and internationally. It operates through Commercial Aviation North America (CA-NA), Commercial Aviation Rest of World (CA-ROW), and Business Aviation (BA) segments. The company design, build and operate air-to-ground networks, engineer and maintain in-flight systems of proprietary hardware and software, and deliver customizable connectivity and wireless entertainment services.

See Also

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Institutional Ownership by Quarter for Gogo (NASDAQ:GOGO)

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