Gogo (NASDAQ:GOGO) Shares Down 3.4% - Time to Sell?

Gogo Inc. (NASDAQ:GOGO - Get Free Report) dropped 3.4% during mid-day trading on Wednesday . The company traded as low as $11.53 and last traded at $11.49. Approximately 159,965 shares were traded during trading, a decline of 88% from the average daily volume of 1,351,586 shares. The stock had previously closed at $11.89.

Wall Street Analyst Weigh In

GOGO has been the topic of a number of recent research reports. 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 note on Monday, March 17th. Wall Street Zen raised shares of Gogo from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd.

Gogo Trading Up 0.4%

The stock's fifty day simple moving average is $9.52 and its 200-day simple moving average is $8.40. The firm has a market cap of $1.60 billion, a PE ratio of 28.12 and a beta of 0.99. The company has a debt-to-equity ratio of 11.07, a current ratio of 3.58 and a quick ratio of 2.81.

Gogo (NASDAQ:GOGO - Get Free Report) last issued its earnings results on Friday, May 9th. The technology company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.13. The firm had revenue of $230.31 million during the quarter, compared to analysts' expectations of $214.93 million. Gogo had a net margin of 13.94% and a return on equity of 121.96%. The firm's revenue was up 120.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.23 earnings per share. On average, sell-side analysts forecast that Gogo Inc. will post 0.41 earnings per share for the current year.

Insider Transactions at Gogo

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 shares were sold at an average price of $11.00, for a total transaction of $93,500,000.00. Following the transaction, the director now directly owns 4,174,482 shares of the company's stock, valued at $45,919,302. The trade was a 67.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Oakleigh Thorne bought 30,173 shares of Gogo stock in a transaction on Monday, March 17th. The shares were purchased at an average cost of $6.57 per share, for a total transaction of $198,236.61. Following the completion of 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. Insiders own 25.78% of the company's stock.

Hedge Funds Weigh In On Gogo

A number of institutional investors have recently bought and sold shares of GOGO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Gogo by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,863 shares of the technology company's stock valued at $298,000 after acquiring an additional 1,273 shares during the period. Nuveen Asset Management LLC grew its holdings in shares of Gogo by 0.6% in the fourth quarter. Nuveen Asset Management LLC now owns 223,317 shares of the technology company's stock valued at $1,807,000 after purchasing an additional 1,373 shares in the last quarter. MetLife Investment Management LLC grew its holdings in shares of Gogo by 6.9% in the first quarter. MetLife Investment Management LLC now owns 38,698 shares of the technology company's stock valued at $334,000 after purchasing an additional 2,482 shares in the last quarter. GAMMA Investing LLC grew 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 in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Gogo by 8.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 62,032 shares of the technology company's stock valued at $502,000 after purchasing an additional 5,078 shares in the last quarter. 69.60% of the stock is 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.