Gogo (NASDAQ:GOGO) Hits New 12-Month High - Still a Buy?

Gogo Inc. (NASDAQ:GOGO - Get Free Report) shares hit a new 52-week high during trading on Thursday . The company traded as high as $15.10 and last traded at $14.40, with a volume of 7328643 shares trading hands. The stock had previously closed at $12.53.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GOGO. Wall Street Zen upgraded Gogo from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Roth Mkm reduced their price target on Gogo from $15.50 to $13.00 and set a "buy" rating on the stock in a research report on Monday, March 17th. Finally, Roth Capital set a $16.50 price target on Gogo and gave the stock a "buy" rating in a research report on Wednesday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $12.63.

Gogo Price Performance

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 $1.87 billion, a P/E ratio of -353.75 and a beta of 0.99. The company has a 50-day moving average price of $10.16 and a 200-day moving average price of $8.59.

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

Insider Buying and Selling

In other Gogo news, Director (Equity) Holdings Lp Silver sold 8,500,000 shares of Gogo stock in a transaction dated Thursday, May 22nd. The stock was 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 of the company's stock, valued at $45,919,302. This trade represents a 67.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 25.78% of the stock is currently owned by company insiders.

Institutional Trading of Gogo

Several hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC raised its stake in shares of Gogo by 138.4% in the 4th quarter. FMR LLC now owns 13,475,009 shares of the technology company's stock valued at $109,013,000 after purchasing an additional 7,821,973 shares during the period. Vanguard Group Inc. increased its position in shares of Gogo by 9.3% in the first quarter. Vanguard Group Inc. now owns 5,695,358 shares of the technology company's stock valued at $49,094,000 after acquiring an additional 485,145 shares during the last quarter. Nantahala Capital Management LLC increased its position in shares of Gogo by 38.5% in the first quarter. Nantahala Capital Management LLC now owns 3,564,797 shares of the technology company's stock valued at $30,729,000 after acquiring an additional 990,155 shares during the last quarter. Capco Asset Management LLC increased its position in shares of Gogo by 22.1% in the fourth quarter. Capco Asset Management LLC now owns 3,009,743 shares of the technology company's stock valued at $24,349,000 after acquiring an additional 544,178 shares during the last quarter. Finally, Tenzing Global Management LLC increased its position in shares of Gogo by 31.3% in the first quarter. Tenzing Global Management LLC now owns 2,725,000 shares of the technology company's stock valued at $23,490,000 after acquiring an additional 650,000 shares during the last quarter. Institutional investors and hedge funds own 69.60% of the company's stock.

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.