23,564 Shares in Gogo Inc. (NASDAQ:GOGO) Bought by Virtu Financial LLC

Virtu Financial LLC purchased a new stake in shares of Gogo Inc. (NASDAQ:GOGO) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 23,564 shares of the technology company’s stock, valued at approximately $169,000.

A number of other large investors have also recently bought and sold shares of the business. Select Equity Group L.P. bought a new stake in shares of Gogo during the 2nd quarter valued at about $2,764,000. LB Partners LLC boosted its holdings in shares of Gogo by 12.4% during the 3rd quarter. LB Partners LLC now owns 2,045,000 shares of the technology company’s stock worth $14,683,000 after buying an additional 225,000 shares in the last quarter. FMR LLC boosted its holdings in shares of Gogo by 13.5% during the 3rd quarter. FMR LLC now owns 5,653,036 shares of the technology company’s stock worth $40,589,000 after buying an additional 673,315 shares in the last quarter. Millennium Management LLC grew its position in shares of Gogo by 19.0% during the 2nd quarter. Millennium Management LLC now owns 814,833 shares of the technology company’s stock worth $7,839,000 after buying an additional 130,344 shares during the period. Finally, William Blair Investment Management LLC increased its stake in shares of Gogo by 7.9% in the 2nd quarter. William Blair Investment Management LLC now owns 2,073,693 shares of the technology company’s stock valued at $19,949,000 after acquiring an additional 152,338 shares in the last quarter. 69.60% of the stock is currently owned by institutional investors and hedge funds.

Gogo Stock Performance

Shares of GOGO stock opened at $7.92 on Thursday. The company has a current ratio of 3.58, a quick ratio of 2.81 and a debt-to-equity ratio of 11.07. The firm has a fifty day simple moving average of $7.58 and a two-hundred day simple moving average of $8.09. Gogo Inc. has a 12 month low of $6.17 and a 12 month high of $11.17. The firm has a market capitalization of $996.17 million, a PE ratio of 18.42 and a beta of 1.18.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GOGO. Roth Mkm reaffirmed a “buy” rating and issued a $15.50 price target on shares of Gogo in a research note on Tuesday, September 17th. Morgan Stanley decreased their target price on Gogo from $12.00 to $11.00 and set an “equal weight” rating for the company in a research report on Tuesday, September 3rd.

About Gogo

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.