StockNews.com Upgrades Gogo (NASDAQ:GOGO) to "Hold"

StockNews.com upgraded shares of Gogo (NASDAQ:GOGO - Free Report) from a sell rating to a hold rating in a report released on Monday morning.

Separately, 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.

Gogo Stock Up 3.0%

Shares of GOGO stock traded up $0.36 during trading on Monday, reaching $12.56. The company's stock had a trading volume of 1,472,779 shares, compared to its average volume of 1,276,616. The company has a debt-to-equity ratio of 11.07, a current ratio of 3.58 and a quick ratio of 2.81. The company has a market capitalization of $1.66 billion, a price-to-earnings ratio of 29.21 and a beta of 0.93. The stock's 50-day moving average price is $8.05 and its 200 day moving average price is $7.89. Gogo has a 1-year low of $6.17 and a 1-year high of $12.90.

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

Insider Activity

In related news, Director Oakleigh Thorne bought 30,173 shares of the stock in a transaction dated Monday, March 17th. The stock was acquired at an average price of $6.57 per share, for a total transaction of $198,236.61. Following the acquisition, the director now owns 711,341 shares in the company, valued at approximately $4,673,510.37. This represents a 4.43% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 26.00% of the company's stock.

Institutional Trading of Gogo

Several institutional investors and hedge funds have recently bought and sold shares of GOGO. Barclays PLC raised its position in Gogo by 357.5% in the 3rd quarter. Barclays PLC now owns 109,959 shares of the technology company's stock valued at $789,000 after purchasing an additional 85,925 shares during the last quarter. SG Americas Securities LLC raised its position in 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 last quarter. Brighton Jones LLC raised its position in Gogo by 69.6% in the 4th quarter. Brighton Jones LLC now owns 17,000 shares of the technology company's stock valued at $138,000 after purchasing an additional 6,978 shares during the last quarter. LB Partners LLC raised its position in Gogo by 8.6% in the 4th quarter. LB Partners LLC now owns 2,221,092 shares of the technology company's stock valued at $17,969,000 after purchasing an additional 176,092 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in Gogo by 256.1% in the 4th 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 during the last quarter. Hedge funds and other institutional investors 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.