Is Gogo (GOGO) a Worthy Investment?
LVS Advisory, a New York City-based full-service investment firm, recently released its second-quarter 2023 investor letter. A copy of the same can be downloaded here. The defensive portfolio of the fund gained 2.5% (net of all fees and expenses) for the six months ended 2023 compared to a 5.1% gain for its benchmark High-Yield Bond Index. On the other hand, its Growth Portfolio gained 10.7% year to date compared to 16.9% for its benchmark, S&P 500 Total Return Index. For more information on the fund’s top picks in 2023, please check its top five holdings.
LVS Advisory highlighted stocks like Gogo Inc. (NASDAQ:GOGO) in the second quarter 2023 investor letter. Headquartered in Broomfield, Colorado, Gogo Inc. (NASDAQ:GOGO) provides broadband connectivity services in airplanes. On July 18, 2023, Gogo Inc. (NASDAQ:GOGO) stock closed at $17.42 per share. One-month return of Gogo Inc. (NASDAQ:GOGO) was 0.64%, and its shares gained 11.95% of their value over the last 52 weeks. Gogo Inc. (NASDAQ:GOGO) has a market capitalization of $2.308 billion.
LVS Advisory made the following comment about Gogo Inc. (NASDAQ:GOGO) in its second quarter 2023 investor letter:
"We initiated an investment in Gogo Inc. (NASDAQ:GOGO) in Q1 and published a write-up on the stock in April 2023. Gogo’s stock price declined by over 15% in the middle of the quarter and we used that opportunity to significantly increase our ownership. We could not find a good reason as to why the stock declined and within a few weeks, the stock price reversed and hit a new 52-week high price."
Photo by Toa heftiba on Unsplash
Gogo Inc. (NASDAQ:GOGO) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 18 hedge fund portfolios held Gogo Inc. (NASDAQ:GOGO) at the end of first quarter which was 16 in the previous quarter.
We discussed Gogo Inc. (NASDAQ:GOGO) in another article and shared LVS Advisory's views on the company in the previous quarter. In addition, please check out our hedge fund investor letters Q2 2023 page for more investor letters from hedge funds and other leading investors.
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Disclosure: None. This article is originally published at Insider Monkey.
