Gogo (NASDAQ:GOGO) Director Purchases $724,760.87 in Stock

Key Points

• Director Charles Townsend bought 158,591 shares on March 12 at an average of $4.57 per share for a total of $724,760.87, boosting his stake 60.97% to 418,686 shares (valued at ~$1.91M); the purchase was disclosed in an SEC filing.
• Gogo reported Q4 EPS of -$0.07, missing the $0.02 estimate, while revenue rose 67.3% year-over-year to $230.56 million and analysts expect ~0.41 EPS for the fiscal year.
• The stock traded near $4.31 with a 12-month range of $3.85–$16.82, a market cap of about $580M, and carries an average analyst rating of Hold with a consensus target of $12.25.

Gogo Inc. (NASDAQ:GOGO - Get Free Report) Director Charles Townsend purchased 158,591 shares of the stock in a transaction dated Thursday, March 12th. The shares were acquired at an average cost of $4.57 per share, with a total value of $724,760.87. Following the acquisition, the director directly owned 418,686 shares in the company, valued at $1,913,395.02. This represents a 60.97% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Gogo Price Performance

NASDAQ:GOGO traded down $0.18 during trading hours on Friday, hitting $4.31. The company's stock had a trading volume of 2,698,275 shares, compared to its average volume of 2,073,282. Gogo Inc. has a twelve month low of $3.85 and a twelve month high of $16.82. The company has a debt-to-equity ratio of 8.24, a current ratio of 1.60 and a quick ratio of 1.24. The stock has a fifty day simple moving average of $4.60 and a 200-day simple moving average of $6.79. The company has a market capitalization of $580.47 million, a P/E ratio of 43.10 and a beta of 1.07.

Gogo (NASDAQ:GOGO - Get Free Report) last issued its earnings results on Friday, February 27th. The technology company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.09). The business had revenue of $230.56 million for the quarter, compared to analyst estimates of $222.65 million. Gogo had a return on equity of 55.95% and a net margin of 1.42%.The firm's revenue was up 67.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.22) EPS. On average, analysts anticipate that Gogo Inc. will post 0.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Fortitude Family Office LLC acquired a new stake in Gogo during the 3rd quarter worth approximately $30,000. State of Wyoming acquired a new position in Gogo in the 3rd quarter valued at approximately $32,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Gogo during the fourth quarter valued at $27,000. Quarry LP lifted its holdings in shares of Gogo by 86.1% during the third quarter. Quarry LP now owns 7,171 shares of the technology company's stock worth $62,000 after purchasing an additional 3,318 shares during the period. Finally, Tower Research Capital LLC TRC lifted its holdings in shares of Gogo by 300.1% during the second quarter. Tower Research Capital LLC TRC now owns 8,163 shares of the technology company's stock worth $120,000 after purchasing an additional 6,123 shares during the period. Institutional investors own 69.60% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on GOGO shares. Morgan Stanley set a $8.00 price objective on shares of Gogo in a research note on Friday, January 16th. Weiss Ratings reiterated a "sell (d)" rating on shares of Gogo in a report on Monday, December 29th. Finally, William Blair cut Gogo from an "outperform" rating to a "market perform" rating in a research note on Tuesday, December 9th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $12.25.

About Gogo

Gogo Inc is a leading provider of in-flight connectivity and entertainment solutions for commercial and business aviation. The company specializes in delivering broadband internet, voice and text services, and streaming entertainment to passengers at 35,000 feet. Gogo's offerings include both air-to-ground (ATG) networks and satellite-based connectivity, enabling reliable in-flight internet access across a range of aircraft types.

Gogo's ATG network spans the United States and portions of Canada, using ground towers to transmit data signals directly to equipped aircraft.

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