Kavar Capital Partners LLC purchased a new stake in shares of Gogo Inc (NASDAQ:GOGO) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 6,400 shares of the technology company’s stock, valued at approximately $25,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Aperio Group LLC acquired a new position in shares of Gogo during the second quarter valued at $40,000. Metropolitan Life Insurance Co NY acquired a new position in Gogo during the first quarter worth about $73,000. Intersect Capital LLC acquired a new position in Gogo during the first quarter worth about $90,000. Oppenheimer & Co. Inc. acquired a new position in Gogo during the first quarter worth about $108,000. Finally, SG Americas Securities LLC acquired a new position in Gogo during the second quarter worth about $120,000. 59.13% of the stock is currently owned by institutional investors.
NASDAQ:GOGO traded up $0.06 during mid-day trading on Friday, reaching $4.26. 2,150,700 shares of the stock were exchanged, compared to its average volume of 1,704,223. The business has a fifty day moving average price of $4.27 and a 200 day moving average price of $4.58. The firm has a market capitalization of $369.89 million, a PE ratio of -2.33 and a beta of 0.97. Gogo Inc has a 1-year low of $2.64 and a 1-year high of $7.82.
In related news, Director Charles C. Townsend purchased 100,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average price of $4.43 per share, for a total transaction of $443,000.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 41.50% of the company’s stock.
A number of research analysts recently issued reports on the company. Roth Capital assumed coverage on Gogo in a report on Monday, May 13th. They set a “buy” rating and a $10.00 target price on the stock. BidaskClub raised Gogo from a “sell” rating to a “hold” rating in a report on Tuesday, August 13th. William Blair raised Gogo from a “market perform” rating to an “outperform” rating in a report on Friday, May 10th. Finally, Zacks Investment Research lowered Gogo from a “strong-buy” rating to a “hold” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Gogo currently has a consensus rating of “Hold” and a consensus target price of $5.75.
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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