Gogo Inc. (NASDAQ:GOGO - Get Free Report) Director Oakleigh Thorne acquired 30,173 shares of the stock in a transaction dated Monday, March 17th. The stock was acquired at an average price of $6.57 per share, with a total value of $198,236.61. Following the completion of the acquisition, the director now owns 711,341 shares in the company, valued at approximately $4,673,510.37. The trade was a 4.43 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Gogo Stock Up 7.1 %
Shares of NASDAQ GOGO opened at $6.93 on Wednesday. The firm has a fifty day simple moving average of $7.74 and a two-hundred day simple moving average of $7.56. The firm has a market capitalization of $871.65 million, a PE ratio of 16.12 and a beta of 1.01. The company has a current ratio of 3.58, a quick ratio of 2.81 and a debt-to-equity ratio of 11.07. Gogo Inc. has a 12 month low of $6.17 and a 12 month high of $11.00.
Gogo (NASDAQ:GOGO - Get Free Report) last posted its quarterly earnings data on Friday, March 14th. The technology company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.03. Gogo had a return on equity of 121.96% and a net margin of 13.94%. The business had revenue of $137.80 million for the quarter, compared to analysts' expectations of $97.80 million. During the same period in the previous year, the firm posted $0.11 EPS. The business's revenue was up 40.9% on a year-over-year basis. Equities analysts expect that Gogo Inc. will post 0.41 earnings per share for the current year.
Institutional Investors Weigh In On Gogo
Several hedge funds and other institutional investors have recently added to or reduced their stakes in GOGO. Lazard Asset Management LLC bought a new stake in shares of Gogo during the 4th quarter valued at $43,000. State of Wyoming bought a new stake in Gogo during the fourth quarter worth about $57,000. Teza Capital Management LLC bought a new stake in Gogo during the fourth quarter worth about $110,000. Hsbc Holdings PLC bought a new position in shares of Gogo during the fourth quarter valued at approximately $116,000. Finally, Diametric Capital LP purchased a new position in shares of Gogo during the fourth quarter valued at approximately $121,000. 69.60% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
A number of research analysts have recently issued reports on GOGO shares. Roth Mkm reduced their price objective on Gogo from $15.50 to $13.00 and set a "buy" rating on the stock in a research note on Monday. StockNews.com lowered shares of Gogo from a "hold" rating to a "sell" rating in a report on Monday.
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About Gogo
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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.
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