Gogo Inc (GOGO) Holdings Increased by First Midwest Bank Trust Division

First Midwest Bank Trust Division raised its holdings in Gogo Inc (NASDAQ:GOGO) by 477.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 435,931 shares of the technology company’s stock after acquiring an additional 360,384 shares during the period. First Midwest Bank Trust Division’s holdings in Gogo were worth $2,118,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Gabelli Funds LLC grew its holdings in Gogo by 5.2% in the 1st quarter. Gabelli Funds LLC now owns 1,849,200 shares of the technology company’s stock valued at $15,959,000 after buying an additional 91,500 shares during the period. Gamco Investors INC. ET AL grew its holdings in Gogo by 8.0% in the 1st quarter. Gamco Investors INC. ET AL now owns 1,070,500 shares of the technology company’s stock valued at $9,238,000 after buying an additional 79,475 shares during the period. Geode Capital Management LLC grew its holdings in Gogo by 2.8% in the 4th quarter. Geode Capital Management LLC now owns 569,014 shares of the technology company’s stock valued at $6,418,000 after buying an additional 15,502 shares during the period. Deutsche Bank AG grew its holdings in Gogo by 340.4% in the 4th quarter. Deutsche Bank AG now owns 225,223 shares of the technology company’s stock valued at $2,539,000 after buying an additional 174,084 shares during the period. Finally, Teachers Advisors LLC grew its holdings in Gogo by 41.5% in the 4th quarter. Teachers Advisors LLC now owns 145,451 shares of the technology company’s stock valued at $1,641,000 after buying an additional 42,649 shares during the period. Institutional investors own 74.16% of the company’s stock.

Shares of NASDAQ:GOGO opened at $3.66 on Thursday. The company has a debt-to-equity ratio of -5.26, a current ratio of 2.30 and a quick ratio of 1.69. Gogo Inc has a 1 year low of $3.52 and a 1 year high of $14.76. The stock has a market cap of $311.48 million, a PE ratio of -1.66 and a beta of 1.31.

Gogo (NASDAQ:GOGO) last issued its earnings results on Friday, May 4th. The technology company reported ($0.34) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.58) by $0.24. The firm had revenue of $231.83 million for the quarter, compared to analysts’ expectations of $221.48 million. During the same quarter in the previous year, the firm posted ($0.52) EPS. The firm’s revenue for the quarter was up 40.2% compared to the same quarter last year. sell-side analysts forecast that Gogo Inc will post -2.24 EPS for the current year.

In other news, Director Robert H. Mundheim bought 10,000 shares of the firm’s stock in a transaction dated Monday, May 14th. The stock was acquired at an average price of $5.50 per share, for a total transaction of $55,000.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, major shareholder Thorndale Farm, Inc. bought 187,529 shares of the firm’s stock in a transaction dated Wednesday, May 9th. The shares were purchased at an average price of $5.30 per share, with a total value of $993,903.70. The disclosure for this purchase can be found here. Insiders have bought a total of 844,444 shares of company stock valued at $4,324,637 in the last quarter. Company insiders own 36.20% of the company’s stock.

Several research firms have commented on GOGO. ValuEngine upgraded Gogo from a “sell” rating to a “hold” rating in a report on Thursday. Raymond James cut Gogo from an “outperform” rating to a “market perform” rating and set a $15.00 price target for the company. in a report on Tuesday, July 24th. William Blair cut Gogo from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 17th. Zacks Investment Research cut Gogo from a “hold” rating to a “sell” rating in a report on Wednesday, July 11th. Finally, BidaskClub cut Gogo from a “hold” rating to a “sell” rating in a report on Thursday, June 28th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $8.38.

Gogo Company Profile

Gogo Inc, through its subsidiaries, provides inflight broadband connectivity and wireless entertainment services to the aviation industry in the United States and internationally. It 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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Institutional Ownership by Quarter for Gogo (NASDAQ:GOGO)

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