(Equity) Holdings Lp Silver Sells 8,500,000 Shares of Gogo Inc. (NASDAQ:GOGO) Stock

Gogo Inc. (NASDAQ:GOGO - Get Free Report) Director (Equity) Holdings Lp Silver sold 8,500,000 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $11.00, for a total value of $93,500,000.00. Following the sale, the director now owns 4,174,482 shares of the company's stock, valued at approximately $45,919,302. This trade represents a 67.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Gogo Price Performance

Shares of NASDAQ:GOGO traded up $0.03 during midday trading on Friday, hitting $10.75. The company had a trading volume of 1,247,948 shares, compared to its average volume of 1,322,962. Gogo Inc. has a twelve month low of $6.17 and a twelve month high of $13.16. The stock has a market cap of $1.42 billion, a price-to-earnings ratio of 25.00 and a beta of 0.93. The company has a debt-to-equity ratio of 11.07, a current ratio of 3.58 and a quick ratio of 2.81. The business's 50-day simple moving average is $8.82 and its 200-day simple moving average is $8.15.

Gogo (NASDAQ:GOGO - Get Free Report) last issued its earnings results on Friday, May 9th. The technology company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.13. Gogo had a return on equity of 121.96% and a net margin of 13.94%. The company had revenue of $230.31 million during the quarter, compared to analysts' expectations of $214.93 million. During the same period in the prior year, the business earned $0.23 EPS. The firm's quarterly revenue was up 120.8% on a year-over-year basis. On average, research analysts predict that Gogo Inc. will post 0.41 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages have weighed in on GOGO. Wall Street Zen upgraded Gogo from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Roth Mkm decreased their price target on shares of Gogo from $15.50 to $13.00 and set a "buy" rating on the stock in a research note on Monday, March 17th.

Hedge Funds Weigh In On Gogo

Several institutional investors and hedge funds have recently bought and sold shares of GOGO. GAMMA Investing LLC increased its holdings in shares of Gogo by 532.9% during the 1st quarter. GAMMA Investing LLC now owns 3,595 shares of the technology company's stock worth $31,000 after buying an additional 3,027 shares during the last quarter. Lazard Asset Management LLC acquired a new stake in Gogo during the fourth quarter worth $43,000. State of Wyoming purchased a new stake in Gogo in the fourth quarter valued at $57,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Gogo in the 1st quarter valued at $111,000. Finally, Teza Capital Management LLC acquired a new position in shares of Gogo in the 4th quarter valued at $110,000. 69.60% of the stock is currently owned by institutional investors and hedge funds.

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.