Olympiad Research LP Makes New $318,000 Investment in Gogo Inc. (NASDAQ:GOGO)

Olympiad Research LP purchased a new position in shares of Gogo Inc. (NASDAQ:GOGO) in the third quarter, Holdings Channel reports. The fund purchased 44,301 shares of the technology company’s stock, valued at approximately $318,000.

Several other institutional investors have also recently made changes to their positions in GOGO. nVerses Capital LLC purchased a new position in shares of Gogo during the 3rd quarter valued at approximately $34,000. Brighton Jones LLC purchased a new position in shares of Gogo during the 3rd quarter valued at approximately $72,000. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Gogo during the 2nd quarter valued at approximately $107,000. AQR Capital Management LLC purchased a new position in shares of Gogo during the 2nd quarter valued at approximately $108,000. Finally, SG Americas Securities LLC purchased a new position in shares of Gogo during the 2nd quarter valued at approximately $109,000. 69.60% of the stock is owned by hedge funds and other institutional investors.

Gogo Price Performance

Gogo stock opened at $7.93 on Friday. Gogo Inc. has a 1 year low of $6.17 and a 1 year high of $11.17. The company has a debt-to-equity ratio of 11.25, a quick ratio of 3.16 and a current ratio of 3.95. The company’s fifty day moving average price is $7.12 and its 200 day moving average price is $8.51. The stock has a market capitalization of $1.01 billion, a P/E ratio of 15.55 and a beta of 1.10.

Gogo (NASDAQ:GOGO) last announced its earnings results on Wednesday, August 7th. The technology company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). The business had revenue of $102.10 million for the quarter, compared to analyst estimates of $99.02 million. Gogo had a return on equity of 145.01% and a net margin of 16.59%. The company’s revenue for the quarter was down 1.1% compared to the same quarter last year. During the same period last year, the firm earned $0.20 EPS. As a group, equities research analysts anticipate that Gogo Inc. will post 0.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Roth Mkm reaffirmed a “buy” rating and set a $15.50 target price on shares of Gogo in a report on Tuesday, September 17th. JPMorgan Chase & Co. dropped their price target on shares of Gogo from $11.00 to $10.00 and set a “neutral” rating on the stock in a research note on Thursday, August 8th. Finally, Morgan Stanley dropped their price target on shares of Gogo from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Tuesday, September 3rd.

Gogo Profile

Gogo Inc, together with its subsidiaries, provides broadband connectivity services to the aviation industry in the United States and internationally. The company's product platform includes networks, antennas, and airborne equipment and software. It offers in-flight systems; in-flight services; aviation partner support; and engineering, design, and development services, as well as production operations functions.