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)

Comments
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

The 10 Largest Pharmaceutical Companies In the World

The 10 Most Expensive Android Apps

The 9 Most Expensive Designer Bags in the World

The 7 Most Expensive Real Estate in the World

The 10 Most Expensive eBay Items Ever Sold

The 10 Most Expensive iPhone Apps

The 9 Most Expensive Designer Shoes in the World

The 10 Most Expensive Cigarette Brands

The 10 Most Expensive Law Schools in the US

The 10 Best Wall Street Movies

The 10 Most Expensive Golf Clubs Ever Sold

The 10 Most Expensive Golf Memberships

The 10 Best Disney Characters Ever Created

The 8 Best Foods for Gaining Weight

The 10 Most Expensive Colleges in the World

The 7 Most Memorable Ad Campaigns of All Time

The 7 Most Expensive High Schools in the World

The 10 Electric Vehicles with the Longest Range

The 10 Cities with the Worst Drivers in the World

The 10 Most Expensive Dresses Ever Created

10 Islands to Visit Before You Die

10 Famous Celebrities Who Needed Rehab

The 15 Countries with the Largest Oil Reserves

The 10 Most Overused Excuses in the World

The 5 Best iOS Apps You Can’t Get on Android

5 Companies Damaged By Social Media Blunders

The 10 Most Legendary Blues Songs

The 10 Most Lawless Places in the World

4 Reasons China is a Threat to the US

The 17 Most Sugary Drinks in the World

The 10 Most Ruthless Rulers in History

The 10 Greatest Generals in History

Top 8 Travel Destinations for 2015

The 10 Safest Dog Breeds for Children

The 10 Most Stolen Vehicles in the US

The 7 Most Expensive Celebrity Weddings

The 10 Best LoL Teams in the World

Top 10 Worst Marketing Campaigns Ever Produced

Top 5 Diets that Help You Lose Weight

The 10 Best Ways to Stay Awake

7 Artists That Switched Musical Genres

The 10 Most Expensive Cities to Live in New Jersey

The 10 Best High Schools in New York

The 10 Countries With the Least Gender Inequality

The 6 Biggest Musician-Manager Feuds

The 10 Countries with the Cheapest Gas Prices

The 7 Most Theatrical Bands of All Time

The 8 Worst Band Breakups of All Time

The 10 Most Important South American Leaders

The 7 Most Successful Casting Show Winners

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!