Oppenheimer & Co. Inc. Sells 4,150 Shares of Gogo Inc (NASDAQ:GOGO)

Oppenheimer & Co. Inc. decreased its holdings in shares of Gogo Inc (NASDAQ:GOGO) by 15.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,050 shares of the technology company’s stock after selling 4,150 shares during the period. Oppenheimer & Co. Inc.’s holdings in Gogo were worth $139,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in GOGO. Kavar Capital Partners LLC bought a new stake in shares of Gogo during the 2nd quarter valued at about $25,000. Aperio Group LLC acquired a new position in Gogo during the 2nd quarter worth approximately $40,000. Coatue Management LLC acquired a new position in Gogo during the 2nd quarter worth approximately $44,000. Walleye Trading Advisors LLC acquired a new position in Gogo during the 2nd quarter worth approximately $44,000. Finally, Metropolitan Life Insurance Co NY acquired a new position in Gogo during the 1st quarter worth approximately $73,000. Institutional investors own 54.99% of the company’s stock.

A number of research firms recently weighed in on GOGO. BidaskClub raised Gogo from a “hold” rating to a “buy” rating in a research note on Wednesday, October 30th. ValuEngine raised Gogo from a “sell” rating to a “hold” rating in a research note on Thursday. William Blair reaffirmed a “buy” rating on shares of Gogo in a research note on Monday, September 23rd. Finally, Zacks Investment Research downgraded Gogo from a “buy” rating to a “hold” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $6.44.

In related news, Director Charles C. Townsend acquired 65,651 shares of the stock in a transaction dated Thursday, August 22nd. The stock was purchased at an average cost of $3.94 per share, with a total value of $258,664.94. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Charles C. Townsend acquired 45,200 shares of the stock in a transaction dated Friday, August 30th. The stock was bought at an average cost of $3.99 per share, with a total value of $180,348.00. The disclosure for this purchase can be found here. Over the last three months, insiders bought 165,851 shares of company stock valued at $658,013. Company insiders own 41.50% of the company’s stock.

GOGO stock opened at $6.02 on Thursday. The stock’s 50 day simple moving average is $6.00 and its 200 day simple moving average is $5.05. Gogo Inc has a fifty-two week low of $2.64 and a fifty-two week high of $7.23.

Gogo (NASDAQ:GOGO) last posted its quarterly earnings results on Thursday, November 7th. The technology company reported ($0.28) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.57) by $0.29. The firm had revenue of $201.18 million for the quarter, compared to analyst estimates of $206.07 million. The firm’s quarterly revenue was down 7.4% compared to the same quarter last year. During the same period last year, the company posted ($0.47) earnings per share. On average, equities research analysts forecast that Gogo Inc will post -1.7 earnings per share for the current year.

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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