Gogo Inc. (NASDAQ:GOGO) Director Acquires $198,236.61 in Stock

Gogo Inc. (NASDAQ:GOGO) Director Oakleigh Thorne bought 30,173 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were bought at an average cost of $6.57 per share, with a total value of $198,236.61. Following the completion of the purchase, the director now directly owns 711,341 shares of the company’s stock, valued at $4,673,510.37. This represents a 4.43 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

Gogo Price Performance

Shares of NASDAQ:GOGO traded up $0.47 on Tuesday, reaching $6.94. The company’s stock had a trading volume of 1,895,507 shares, compared to its average volume of 1,069,342. Gogo Inc. has a 52-week low of $6.17 and a 52-week high of $11.00. The company has a market cap of $872.28 million, a P/E ratio of 16.13 and a beta of 1.01. The company has a 50-day simple moving average of $7.75 and a 200 day simple moving average of $7.56. The company has a debt-to-equity ratio of 11.07, a quick ratio of 2.81 and a current ratio of 3.58.

Gogo (NASDAQ:GOGO) last issued its quarterly earnings data on Friday, March 14th. The technology company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. Gogo had a net margin of 13.94% and a return on equity of 121.96%. The business had revenue of $137.80 million during the quarter, compared to analysts’ expectations of $97.80 million. During the same period last year, the company posted $0.11 EPS. The business’s revenue was up 40.9% on a year-over-year basis. As a group, equities research analysts anticipate that Gogo Inc. will post 0.41 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on GOGO. StockNews.com cut shares of Gogo from a “hold” rating to a “sell” rating in a research note on Monday. Roth Mkm dropped their price objective on shares of Gogo from $15.50 to $13.00 and set a “buy” rating for the company in a research note on Monday.

Institutional Investors Weigh In On Gogo

Institutional investors have recently made changes to their positions in the company. Lazard Asset Management LLC bought a new stake in shares of Gogo in the 4th quarter worth about $43,000. State of Wyoming bought a new stake in shares of Gogo in the 4th quarter worth about $57,000. Teza Capital Management LLC bought a new stake in shares of Gogo in the 4th quarter worth about $110,000. Hsbc Holdings PLC bought a new stake in shares of Gogo in the 4th quarter worth about $116,000. Finally, Diametric Capital LP bought a new stake in shares of Gogo in the 4th quarter worth about $121,000. Institutional investors own 69.60% of the company’s stock.

About Gogo

Gogo Inc, together with its subsidiaries, provides broadband connectivity services to the aviation industry in the United States and internationally. The company's product platform includes networks, antennas, and airborne equipment and software. It offers in-flight systems; in-flight services; aviation partner support; and engineering, design, and development services, as well as production operations functions.