Steven Cohen’s SAC Capital Ups Passive Stake in Gogo Inc (GOGO)

A recent 13G filing shows that Steven Cohen’s SAC Capital Advisors has increased its passive stake in Gogo Inc (NASDAQ:GOGO). According to the filing, SAC Capital owns 4.55 million shares of Gogo Inc., which represents a massive increase from 132,000 shares the fund disclosed as at the end of the year. The new position is equivalent to 5.4% of the company’s common stock.

SAC CAPITAL ADVISORS

Illinois, U.S.-based Gogo Inc. provides offers in-flight connectivity and wireless in-flight digital entertainment solutions. The company has a market cap of $2.04 billion. As of the end of the fourth quarter of 2013, Cupps Capital Management, managed by Drew Cupps, holds 1.1 million shares of GOGO. Another investor Dmitry Balyasny’s Balyasny Asset Management owns around 743,100 shares of the company.

Around a month ago, GOGO has surpassed over 2,000 Gogo Biz system instalations in the business aviation. According to the company, the milestone achieved within just over four years after the introduction, makes the system the most rapidly-adopted broadband service in the history of business aviation.

The company went public in June, 2013 and since the IPO, the stock gained over 50%. Morover, while posting negative profits so far, the company still managed to beat the estimates in the past quarters. For the fourth quarter of 2013, Gogo is expected to report a loss of -$0.27.

SAC Capital is a diversified hedge fund that uses both fundamental and quantitative analysis based approaches. The total value of the fund’s equity portfolio amounted to over $17 billion at the end of the year.

Recently, SAC Capital upped its stake in ITT Educational Services, Inc. (NYSE:ESI) from 10,953 to 1.2 million shares, currently holding about 5% of the company’s common stock. In addition, the fund massively increased its position in DeVry Education Group Inc (NYSE:DV) to over 3.17 million shares from 27,391 shares held previously, with the current holding amasses 5.0% stake of the company’s common stock.

The most recent 13F filing shows that SAC Capital is very fond of Amazon.com, Inc. (NASDAQ:AMZN) and Google Inc (NASDAQ:GOOG). Currently, the fund owns about 503,000 shares of AMZN and 169,000 shares of Google Inc.

Disclosure: none

Recommended Reading:

Carl Icahn’s Interview on eBay Inc (EBAY)

Visium’s Latest Purchase: AMAG Pharmaceuticals Inc. (AMAG)

Jeffrey Ubben Ups ValueAct Capital’s Stake in Willis Group Holdings PLC (WSH)

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

Rito Pls Buff: The 10 Least Played Champions in LoL Season 4

10 Covers of Popular Songs that are Better than the Originals

Must See TV: The 9 Most Anticipated Shows of 2015

The 15 Biggest Box Office Bombs of All Time

10 Things The World Can’t Stand About Americans

Picture Perfect: The 6 Smartphones with the Best Cameras

The 10 Best Countries To Work In the World

A Profitable Day At The Track: 5 Tips For Betting On Horses

Tearing You Apart: 6 Bad Habits That Ruin Relationships

Learning on the Job: The 6 Biggest Mistakes Parents Make

Shopaholics Rejoice: The 12 Biggest Malls in the World

Fright Night: 10 Horror Movies Based on True Stories

Mach Mania: The 10 Fastest Jets in the World

Military Heavyweights: The 10 Countries with the Most Tanks

All In: The 7 Richest Poker Players in the World

Abracadabra: The 10 Best Magicians in the World

The 10 Richest Asian Countries in the World in 2014

Eyes in the Sky: 10 Things You Need to Know About Drones

Rising Stars: The 6 Best Silicon Valley Startups

Military Muscle: The 5 Most Advanced Armies in South America

All that Glitters: The 7 Most Luxurious Jewelry Brands in the World

5 Things You Didn’t Know About ISIS but Should

Empowering Your Money: The 5 Best Energy Stocks to Invest In

The 11 Best Android Apps You Can’t Get on iOS

The 10 Most Important International Conflicts in 2014

Mood Enhancers: The 20 Most Uplifting Songs of all Time

Lover Beware: The 8 Countries that Cheat the Most

Breath of Fresh Air: The 25 Countries with the Best Air Quality on the Planet

Singles Beware: The 8 Worst Mistakes Made on First Dates

Healthy and Happy: The 10 Countries with Lowest Healthcare Costs

The 6 Best Company Team Building Activities to Build Workplace Camaraderie

Ships Ahoy: The 10 Busiest Shipping Ports in the World

10 Productivity Tips to Save You Time and Help You Do More With Less

Grab a Bite: The Most Popular Fast Food Restaurants in America

Friday Night Thirst: The 10 Most Popular Cocktails in the World

The 6 Greatest Unsolved Mysteries We May Never Figure Out

7 Useless Products You Never Should’ve Bought

The 5 Reasons Why You’re Single and Miserable

The 7 Most Addictive Foods in the World We Can’t Stop Eating (Even Though We Should)

5 Amazing Places You Can Swim with Dolphins

The Top 7 Most Livable Countries In The World

The 10 Most Expensive Baseball Cards Ever Pulled From A Pack

The 5 Easiest Second Languages to Learn for English Speakers

Silver Spoon: The 6 Richest Families in the World

The 20 Countries with the Largest Prison Populations in the World

The Top 10 Richest Actors in the World

The 10 Best Airline Stocks to Invest In Before They Fly Too High

Burger Kings: The 10 Most Expensive Burgers in the World

The 10 Most Ethnically Diverse Countries in the World

The 10 Most Exclusive Credit Cards in the World

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!