Harbour Capital Advisors Lowers stake in Gogo Inc (GOGO)

Gogo Inc (GOGO) : Harbour Capital Advisors reduced its stake in Gogo Inc by 10.41% during the most recent quarter end. The investment management company now holds a total of 344,203 shares of Gogo Inc which is valued at $3,879,168 after selling 40,000 shares in Gogo Inc , the firm said in a disclosure report filed with the SEC on Oct 3, 2016.Gogo Inc makes up approximately 2.09% of Harbour Capital Advisors’s portfolio.

Gogo Inc closed down -0.03 points or -0.27% at $11.09 with 8,26,258 shares getting traded on Tuesday. Post opening the session at $11.17, the shares hit an intraday low of $10.989 and an intraday high of $11.27 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Gogo Inc reported $-0.31 EPS for the quarter, beating the analyst consensus estimate by $ 0.09 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $-0.40. The company had revenue of $147.50 million for the quarter, compared to analysts expectations of $141.46 million. The company’s revenue was up 21.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.32 EPS.

Many Wall Street Analysts have commented on Gogo Inc. Gogo Inc was Upgraded by Standpoint Research to ” Buy” on Aug 31, 2016. Gogo Inc was Downgraded by Standpoint Research to ” Hold” on Aug 18, 2016.

Gogo Inc. is a holding company. The Company is an aero communications service provider. The Company operates through three segments: Commercial Aviation North America (CA-NA) Commercial Aviation Rest of World (CA-ROW) and Business Aviation (BA). Its services include global network solutions which include ATG/ATG-4 Ku/2Ku Global Xpress and Iridium and SwiftBroadband (SBB); equipment and equipment related services which include a package of airborne equipment for its ATG/ATG-4 and satellite services; passenger services which include passenger connectivity passenger entertainment and portal content; airline/owner/operator services which include account support network monitoring and management services passenger support services and portal design development and hosting and operations-oriented communications services which include providing commercial airlines and business aircraft owners and operators the access to use applications requiring connectivity.

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