Gogo Inc (GOGO) Shares Sold by Frontier Capital Management Co. LLC

Frontier Capital Management Co. LLC trimmed its position in shares of Gogo Inc (NASDAQ:GOGO) by 2.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 2,534,055 shares of the technology company’s stock after selling 54,511 shares during the quarter. Frontier Capital Management Co. LLC’s holdings in Gogo were worth $13,152,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOGO. Hodges Capital Management Inc. bought a new stake in Gogo in the third quarter worth about $481,000. Russell Investments Group Ltd. lifted its stake in Gogo by 40.5% in the third quarter. Russell Investments Group Ltd. now owns 251,758 shares of the technology company’s stock worth $1,306,000 after purchasing an additional 72,532 shares during the last quarter. First Midwest Bank Trust Division lifted its stake in Gogo by 57.1% in the third quarter. First Midwest Bank Trust Division now owns 684,720 shares of the technology company’s stock worth $3,554,000 after purchasing an additional 248,789 shares during the last quarter. Northern Trust Corp lifted its stake in Gogo by 4.4% in the second quarter. Northern Trust Corp now owns 701,785 shares of the technology company’s stock worth $3,410,000 after purchasing an additional 29,843 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its stake in Gogo by 40.3% in the second quarter. Public Employees Retirement System of Ohio now owns 193,736 shares of the technology company’s stock worth $942,000 after purchasing an additional 55,606 shares during the last quarter. 67.92% of the stock is currently owned by hedge funds and other institutional investors.

Gogo stock opened at $5.59 on Friday. Gogo Inc has a fifty-two week low of $3.52 and a fifty-two week high of $11.75.

Gogo (NASDAQ:GOGO) last posted its quarterly earnings results on Wednesday, August 8th. The technology company reported ($0.47) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.74) by $0.27. The company had revenue of $227.50 million for the quarter, compared to the consensus estimate of $207.64 million. During the same period in the prior year, the firm posted ($0.56) EPS. The business’s revenue was up 31.7% on a year-over-year basis. On average, equities analysts expect that Gogo Inc will post -2.16 earnings per share for the current fiscal year.

Several brokerages have issued reports on GOGO. BidaskClub downgraded shares of Gogo from a “buy” rating to a “hold” rating in a research note on Thursday. ValuEngine raised shares of Gogo from a “sell” rating to a “hold” rating in a research note on Wednesday, October 17th. Zacks Investment Research downgraded shares of Gogo from a “hold” rating to a “sell” rating in a research note on Wednesday, July 11th. William Blair downgraded shares of Gogo from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 17th. Finally, Raymond James downgraded shares of Gogo from an “outperform” rating to a “market perform” rating and set a $15.00 price target for the company. in a research note on Tuesday, July 24th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has assigned a buy rating to the company’s stock. Gogo presently has an average rating of “Hold” and a consensus price target of $8.38.

About Gogo

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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