William Blair Investment Management LLC Has $19.22 Million Position in Gogo Inc. (NASDAQ:GOGO)

William Blair Investment Management LLC increased its holdings in shares of Gogo Inc. (NASDAQ:GOGO) by 8.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,325,308 shares of the technology company’s stock after acquiring an additional 103,477 shares during the quarter. William Blair Investment Management LLC owned about 1.03% of Gogo worth $19,217,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. FMR LLC increased its holdings in shares of Gogo by 5.0% during the 1st quarter. FMR LLC now owns 5,400,352 shares of the technology company’s stock worth $78,305,000 after acquiring an additional 254,722 shares during the last quarter. ExodusPoint Capital Management LP bought a new stake in Gogo in the 1st quarter valued at $1,609,000. Rhumbline Advisers boosted its stake in Gogo by 4.1% in the 1st quarter. Rhumbline Advisers now owns 183,063 shares of the technology company’s stock valued at $2,654,000 after purchasing an additional 7,152 shares during the period. Sycale Advisors NY LLC boosted its stake in Gogo by 24.3% in the 1st quarter. Sycale Advisors NY LLC now owns 1,208,646 shares of the technology company’s stock valued at $17,525,000 after purchasing an additional 236,331 shares during the period. Finally, Credit Suisse AG boosted its stake in Gogo by 2.5% in the 1st quarter. Credit Suisse AG now owns 65,807 shares of the technology company’s stock valued at $954,000 after purchasing an additional 1,583 shares during the period. 66.88% of the stock is owned by institutional investors and hedge funds.

Gogo Price Performance

Shares of GOGO stock opened at $11.74 on Friday. The company has a quick ratio of 3.15, a current ratio of 4.11 and a debt-to-equity ratio of 64.05. Gogo Inc. has a twelve month low of $11.01 and a twelve month high of $17.94. The company has a market cap of $1.51 billion, a P/E ratio of 9.95 and a beta of 1.35. The business has a fifty day simple moving average of $14.85 and a 200 day simple moving average of $14.85.

Gogo (NASDAQ:GOGO) last issued its earnings results on Monday, August 7th. The technology company reported $0.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.07. Gogo had a negative return on equity of 124.37% and a net margin of 38.08%. The business had revenue of $103.22 million during the quarter, compared to analysts’ expectations of $103.25 million. On average, sell-side analysts forecast that Gogo Inc. will post 0.7 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GOGO. Northland Securities reduced their price target on Gogo from $16.00 to $14.00 in a research note on Tuesday, August 8th. TheStreet downgraded Gogo from a “b-” rating to a “c+” rating in a research report on Thursday, August 24th. TD Cowen cut their target price on Gogo from $26.00 to $22.00 and set an “outperform” rating for the company in a research report on Monday, August 14th. StockNews.com initiated coverage on Gogo in a research report on Thursday, August 17th. They set a “hold” rating for the company. Finally, Roth Mkm cut their target price on Gogo from $22.50 to $19.50 and set a “buy” rating for the company in a research report on Tuesday, August 8th. Two research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Gogo has a consensus rating of “Moderate Buy” and a consensus price target of $17.63.

About Gogo

Gogo Inc, through its subsidiaries, provides broadband connectivity services to the aviation industry in the United States and internationally. The company operates through Commercial Aviation-North America, Commercial Aviation-Rest of World, and Business Aviation segments. Its platform include networks, antennas, and airborne equipment and software.