Gogo (NASDAQ:GOGO) Stock Rating Lowered by Wall Street Zen

Key Points

• Gogo Inc has been downgraded by Wall Street Zen from a "buy" rating to a "hold" rating, indicating a less favorable outlook from analysts.
• Roth Capital maintains a "buy" rating on Gogo with a price target of $16.50, suggesting some optimism despite the downgrade.
• In recent transactions, Gogo insiders sold a significant number of shares, which may indicate a shift in confidence among company executives.

Gogo (NASDAQ:GOGO - Get Free Report) was downgraded by Wall Street Zen from a "buy" rating to a "hold" rating in a report released on Saturday.

Separately, Roth Capital set a $16.50 price objective on Gogo and gave the stock a "buy" rating in a research report on Wednesday, June 18th.

Gogo Trading Up 4.5%

Shares of NASDAQ GOGO traded up $0.55 during trading on Friday, hitting $12.77. 1,498,133 shares of the company were exchanged, compared to its average volume of 1,705,104. Gogo has a 12-month low of $6.17 and a 12-month high of $16.82. The company has a debt-to-equity ratio of 8.10, a quick ratio of 1.32 and a current ratio of 1.71. The company has a fifty day moving average price of $14.38 and a 200-day moving average price of $10.47. The firm has a market capitalization of $1.71 billion, a PE ratio of 321.25 and a beta of 1.11.

Gogo (NASDAQ:GOGO - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The technology company reported $0.13 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.12 by $0.01. The firm had revenue of $226.04 million during the quarter, compared to the consensus estimate of $220.12 million. Gogo had a return on equity of 88.04% and a net margin of 1.05%. The company's quarterly revenue was up 121.4% on a year-over-year basis. During the same period last year, the company earned $0.01 EPS. As a group, equities research analysts expect that Gogo will post 0.41 EPS for the current year.

Insider Activity

In related news, CEO Christopher John Moore acquired 10,000 shares of the firm's stock in a transaction dated Friday, August 8th. The stock was acquired at an average price of $12.11 per share, for a total transaction of $121,100.00. Following the purchase, the chief executive officer owned 10,000 shares of the company's stock, valued at $121,100. This represents a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Michael Begler sold 107,136 shares of the business's stock in a transaction that occurred on 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 sale, the executive vice president owned 14,454 shares of the company's stock, valued at approximately $216,810. The trade was a 88.11% decrease in their position. The disclosure for this sale can be found here. Company insiders own 25.78% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its holdings in shares of Gogo by 532.9% in the first quarter. GAMMA Investing LLC now owns 3,595 shares of the technology company's stock valued at $31,000 after purchasing an additional 3,027 shares during the period. USA Financial Formulas acquired a new position in Gogo during the second quarter worth $76,000. Lazard Asset Management LLC acquired a new stake in Gogo in the fourth quarter valued at $43,000. CWM LLC grew its holdings in Gogo by 127.0% in the second quarter. CWM LLC now owns 6,626 shares of the technology company's stock valued at $97,000 after purchasing an additional 3,707 shares during the last quarter. Finally, State of Wyoming acquired a new stake in Gogo in the fourth quarter valued at $57,000. Institutional investors and hedge funds 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.