Gogo Inc. (NASDAQ:GOGO) EVP Sells $1,607,040.00 in Stock

Gogo Inc. (NASDAQ:GOGO - Get Free Report) EVP Michael Begler sold 107,136 shares of the stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $15.00, for a total value of $1,607,040.00. Following the transaction, the executive vice president now owns 14,454 shares of the company's stock, valued at approximately $216,810. This trade represents a 88.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Gogo Stock Performance

GOGO opened at $14.48 on Thursday. The business's 50-day simple moving average is $10.59 and its 200 day simple moving average is $8.73. Gogo Inc. has a 52-week low of $6.17 and a 52-week high of $15.10. The company has a debt-to-equity ratio of 10.03, a quick ratio of 1.36 and a current ratio of 1.84. The firm has a market capitalization of $1.92 billion, a PE ratio of -362.00 and a beta of 0.99.

Gogo (NASDAQ:GOGO - Get Free Report) last announced its quarterly earnings data on Friday, May 9th. The technology company reported $0.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.13. The company had revenue of $230.31 million for the quarter, compared to analysts' expectations of $214.93 million. Gogo had a positive return on equity of 95.01% and a negative net margin of 0.82%. The business's revenue was up 120.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.23 EPS. As a group, sell-side analysts expect that Gogo Inc. will post 0.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

GOGO has been the subject of a number of research reports. Wall Street Zen upgraded Gogo from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Roth Capital set a $16.50 price target on Gogo and gave the stock a "buy" rating in a research report on Wednesday, June 18th. Finally, Roth Mkm lowered their price objective on shares of Gogo from $15.50 to $13.00 and set a "buy" rating on the stock in a report on Monday, March 17th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $12.63.

Institutional Trading of Gogo

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC grew its position in shares of Gogo by 532.9% in the 1st quarter. GAMMA Investing LLC now owns 3,595 shares of the technology company's stock valued at $31,000 after acquiring an additional 3,027 shares during the period. Lazard Asset Management LLC acquired a new stake in Gogo in the 4th quarter valued at about $43,000. State of Wyoming bought a new position in Gogo during the fourth quarter worth about $57,000. Teza Capital Management LLC acquired a new position in Gogo during the fourth quarter worth approximately $110,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Gogo in the first quarter valued at approximately $111,000. 69.60% of the stock is owned by institutional investors.

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.

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