Stelliam Investment Management Lp buys $88,573,550 stake in Gogo Inc (GOGO)

Gogo Inc (GOGO) : Stelliam Investment Management Lp scooped up 3,117,500 additional shares in Gogo Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 7,922,500 shares of Gogo Inc which is valued at $88,573,550.Gogo Inc makes up approximately 3.08% of Stelliam Investment Management Lp’s portfolio.

Other Hedge Funds, Including , First Allied Advisory Services boosted its stake in GOGO in the latest quarter, The investment management firm added 14,816 additional shares and now holds a total of 64,866 shares of Gogo Inc which is valued at $725,202. Gogo Inc makes up approx 0.04% of First Allied Advisory Services’s portfolio. Hodges Capital Management sold out all of its stake in GOGO during the most recent quarter. The investment firm sold 680,450 shares of GOGO which is valued $7,607,431.Blackrock Institutional Trust Company N.a. reduced its stake in GOGO by selling 21,471 shares or 1.68% in the most recent quarter. The Hedge Fund company now holds 1,255,687 shares of GOGO which is valued at $14,038,581.Swiss National Bank boosted its stake in GOGO in the latest quarter, The investment management firm added 7,800 additional shares and now holds a total of 97,200 shares of Gogo Inc which is valued at $818,424.

Gogo Inc opened for trading at $12.19 and hit $12.57 on the upside on Thursday, eventually ending the session at $12.53, with a gain of 2.45% or 0.3 points. The heightened volatility saw the trading volume jump to 15,98,557 shares. Company has a market cap of $1,080 M.

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. Shares were Reiterated by Dougherty & Company on Jun 15, 2016 to “Buy” and Lowered the Price Target to $ 14 from a previous price target of $17 .

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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