Gogo Inc. (NASDAQ:GOGO) Shares Sold by UBS Group AG

UBS Group AG lowered its position in Gogo Inc. (NASDAQ:GOGO) by 49.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 73,072 shares of the technology company’s stock after selling 70,488 shares during the period. UBS Group AG’s holdings in Gogo were worth $804,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of GOGO. Searle & CO. bought a new stake in shares of Gogo during the fourth quarter worth approximately $101,000. Guggenheim Capital LLC raised its stake in shares of Gogo by 0.6% in the fourth quarter. Guggenheim Capital LLC now owns 11,623 shares of the technology company’s stock valued at $107,000 after buying an additional 73 shares during the last quarter. Arxis Securities LLC acquired a new stake in shares of Gogo during the first quarter valued at about $112,000. Principal Financial Group Inc. acquired a new stake in shares of Gogo during the first quarter valued at about $114,000. Finally, Parkwood LLC raised its stake in shares of Gogo by 3.4% in the first quarter. Parkwood LLC now owns 11,089 shares of the technology company’s stock valued at $122,000 after buying an additional 363 shares during the last quarter. Institutional investors and hedge funds own 64.62% of the company’s stock.

Shares of Gogo Inc. (GOGO) opened at 12.12 on Friday. The firm has a 50-day moving average of $11.69 and a 200 day moving average of $11.16. The firm’s market capitalization is $1.05 billion. Gogo Inc. has a 52 week low of $8.20 and a 52 week high of $13.69.

Gogo (NASDAQ:GOGO) last released its quarterly earnings data on Thursday, May 4th. The technology company reported ($0.52) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.52). The business had revenue of $165.41 million for the quarter, compared to analyst estimates of $160.04 million. During the same quarter in the previous year, the company posted ($0.31) EPS. The business’s quarterly revenue was up 16.7% on a year-over-year basis. On average, equities analysts predict that Gogo Inc. will post ($1.94) earnings per share for the current fiscal year.

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Several brokerages have issued reports on GOGO. UBS AG reiterated a “buy” rating and issued a $15.00 price target (up from $14.00) on shares of Gogo in a research note on Friday, May 5th. BidaskClub upgraded shares of Gogo from a “sell” rating to a “hold” rating in a research note on Wednesday. Zacks Investment Research lowered shares of Gogo from a “hold” rating to a “sell” rating in a research note on Wednesday, July 5th. Dougherty & Co lifted their price target on shares of Gogo from $17.50 to $19.00 and gave the company a “buy” rating in a research note on Sunday, May 7th. Finally, ValuEngine upgraded shares of Gogo from a “sell” rating to a “hold” rating in a research note on Tuesday, June 6th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the company’s stock. Gogo currently has an average rating of “Hold” and a consensus target price of $14.75.

Gogo Company Profile

Gogo Inc is a holding company. The Company is a provider of in-flight broadband connectivity and connectivity-enabled services to commercial and business aviation. The Company 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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