Gogo (NASDAQ:GOGO) Hits New 1-Year High - Should You Buy?

Gogo Inc. (NASDAQ:GOGO - Get Free Report)'s stock price reached a new 52-week high on Friday . The stock traded as high as $13.16 and last traded at $12.81, with a volume of 4406096 shares traded. The stock had previously closed at $12.12.

Analysts Set New Price Targets

A number of equities research analysts have commented on GOGO shares. Roth Mkm dropped their price objective on shares of Gogo from $15.50 to $13.00 and set a "buy" rating on the stock in a research report on Monday, March 17th. Wall Street Zen raised Gogo from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd.

Gogo Stock Performance

The company has a market cap of $1.44 billion, a P/E ratio of 25.28 and a beta of 0.93. The firm's fifty day moving average price is $8.70 and its 200-day moving average price is $8.11. 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 (NASDAQ:GOGO - Get Free Report) last released its quarterly earnings results on Friday, May 9th. The technology company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.13. Gogo had a net margin of 13.94% and a return on equity of 121.96%. The company had revenue of $230.31 million during the quarter, compared to analysts' expectations of $214.93 million. During the same quarter in the prior year, the company earned $0.23 earnings per share. The business's quarterly revenue was up 120.8% compared to the same quarter last year. As a group, research analysts forecast that Gogo Inc. will post 0.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other Gogo news, Director (Equity) Holdings Lp Silver sold 8,500,000 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were 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 in the company, valued at $45,919,302. This trade represents a 67.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Oakleigh Thorne bought 30,173 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were acquired at an average cost of $6.57 per share, with a total value of $198,236.61. Following the purchase, the director now directly owns 711,341 shares of the company's stock, valued at $4,673,510.37. This trade represents a 4.43% increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 25.78% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its stake in shares of Gogo by 25.4% in the 4th quarter. SG Americas Securities LLC now owns 35,333 shares of the technology company's stock valued at $286,000 after purchasing an additional 7,156 shares during the period. Brighton Jones LLC boosted its position in Gogo by 69.6% in the fourth quarter. Brighton Jones LLC now owns 17,000 shares of the technology company's stock worth $138,000 after purchasing an additional 6,978 shares during the last quarter. LB Partners LLC grew its position in Gogo by 8.6% during the fourth quarter. LB Partners LLC now owns 2,221,092 shares of the technology company's stock valued at $17,969,000 after buying an additional 176,092 shares during the period. Van ECK Associates Corp lifted its position in Gogo by 256.1% during the fourth quarter. Van ECK Associates Corp now owns 154,706 shares of the technology company's stock valued at $1,252,000 after purchasing an additional 111,267 shares in the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Gogo by 1.9% during the 4th quarter. Principal Financial Group Inc. now owns 287,890 shares of the technology company's stock valued at $2,329,000 after acquiring an additional 5,420 shares during the period. 69.60% of the stock is currently owned by hedge funds and other 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.