Gogo (NASDAQ:GOGO) Hits New 12-Month High - What's Next?

Gogo Inc. (NASDAQ:GOGO - Get Free Report) reached a new 52-week high during trading on Tuesday . The company traded as high as $16.00 and last traded at $15.83, with a volume of 2172724 shares traded. The stock had previously closed at $15.46.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on GOGO shares. Roth Mkm lowered their price target on shares of Gogo from $15.50 to $13.00 and set a "buy" rating for the company in a report on Monday, March 17th. Roth Capital set a $16.50 target price on Gogo and gave the company a "buy" rating in a research note on Wednesday, June 18th. Finally, Wall Street Zen raised Gogo from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, Gogo presently has a consensus rating of "Moderate Buy" and a consensus price target of $12.63.

Gogo Stock Down 1.0%

The stock has a market capitalization of $2.06 billion, a P/E ratio of -390.25 and a beta of 1.06. The company has a current ratio of 1.84, a quick ratio of 1.36 and a debt-to-equity ratio of 10.03. The stock's 50 day simple moving average is $12.18 and its 200 day simple moving average is $9.24.

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

Insider Activity at Gogo

In other news, EVP Michael Begler sold 107,136 shares of Gogo stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $15.00, for a total value of $1,607,040.00. Following the completion of the transaction, the executive vice president directly 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director (Equity) Holdings Lp Silver sold 8,500,000 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were sold at an average price of $11.00, for a total transaction of $93,500,000.00. Following the sale, the director directly owned 4,174,482 shares of the company's stock, valued at approximately $45,919,302. This represents a 67.06% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 25.78% of the company's stock.

Hedge Funds Weigh In On Gogo

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased its stake 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. Lazard Asset Management LLC bought a new stake in Gogo during the 4th quarter valued at $43,000. State of Wyoming bought a new stake in Gogo during the 4th quarter valued at $57,000. Teza Capital Management LLC acquired a new position in Gogo during the 4th quarter worth $110,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in shares of Gogo in the first quarter worth $111,000. 69.60% of the stock is currently owned by institutional investors and hedge funds.

Gogo Company Profile

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.