Gogo (NASDAQ:GOGO) Stock Price Up 4.8%

Gogo Inc. (NASDAQ:GOGO - Get Free Report)'s share price rose 4.8% during mid-day trading on Tuesday . The stock traded as high as $9.14 and last traded at $8.76. Approximately 260,522 shares traded hands during trading, a decline of 73% from the average daily volume of 951,756 shares. The stock had previously closed at $8.36.

Analyst Ratings Changes

GOGO has been the subject of several recent research reports. JPMorgan Chase & Co. initiated coverage on shares of Gogo in a report on Thursday, February 29th. They set a "neutral" rating and a $11.00 target price for the company. Roth Mkm reduced their target price on shares of Gogo from $18.75 to $17.50 and set a "buy" rating for the company in a report on Tuesday, December 12th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $16.13.

Gogo Stock Up 4.7 %

The company has a debt-to-equity ratio of 14.43, a current ratio of 4.37 and a quick ratio of 3.49. The business's fifty day simple moving average is $8.90 and its two-hundred day simple moving average is $9.81. The company has a market cap of $1.12 billion, a PE ratio of 8.03 and a beta of 1.08.

Gogo (NASDAQ:GOGO - Get Free Report) last released its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.11 earnings per share for the quarter, meeting analysts' consensus estimates of $0.11. Gogo had a net margin of 36.64% and a negative return on equity of 7,172.73%. The company had revenue of $97.81 million during the quarter, compared to analysts' expectations of $96.56 million. During the same quarter in the previous year, the company earned $0.21 earnings per share. The firm's revenue for the quarter was down 9.6% on a year-over-year basis. On average, analysts predict that Gogo Inc. will post 0.38 earnings per share for the current year.

Insider Transactions at Gogo

In related news, Director Charles C. Townsend bought 28,857 shares of the business's stock in a transaction dated Thursday, March 14th. The stock was acquired at an average price of $9.03 per share, with a total value of $260,578.71. Following the completion of the purchase, the director now directly owns 1,740,588 shares of the company's stock, valued at $15,717,509.64. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Gogo news, Director Harris N. Williams purchased 12,000 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were purchased at an average cost of $8.10 per share, for a total transaction of $97,200.00. Following the completion of the transaction, the director now owns 20,990 shares of the company's stock, valued at approximately $170,019. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Charles C. Townsend purchased 28,857 shares of the stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average price of $9.03 per share, for a total transaction of $260,578.71. Following the completion of the transaction, the director now directly owns 1,740,588 shares of the company's stock, valued at approximately $15,717,509.64. The disclosure for this purchase can be found here. Corporate insiders own 26.00% of the company's stock.

Hedge Funds Weigh In On Gogo

A number of institutional investors and hedge funds have recently bought and sold shares of GOGO. Envestnet Asset Management Inc. acquired a new position in Gogo during the first quarter worth about $308,000. Bank of New York Mellon Corp boosted its position in Gogo by 0.5% during the first quarter. Bank of New York Mellon Corp now owns 230,953 shares of the technology company's stock worth $4,403,000 after acquiring an additional 1,189 shares during the last quarter. MetLife Investment Management LLC boosted its position in Gogo by 115.7% during the first quarter. MetLife Investment Management LLC now owns 31,583 shares of the technology company's stock worth $602,000 after acquiring an additional 16,943 shares during the last quarter. Great West Life Assurance Co. Can boosted its position in Gogo by 41.0% during the first quarter. Great West Life Assurance Co. Can now owns 2,178 shares of the technology company's stock worth $44,000 after acquiring an additional 633 shares during the last quarter. Finally, Blair William & Co. IL boosted its position in Gogo by 9.3% during the first quarter. Blair William & Co. IL now owns 442,255 shares of the technology company's stock worth $8,429,000 after acquiring an additional 37,606 shares during the last quarter. 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.