Gogo (NASDAQ:GOGO) Shares Up 3.6%

Gogo Inc. (NASDAQ:GOGO - Get Free Report) shares traded up 3.6% during trading on Wednesday . The stock traded as high as $8.42 and last traded at $8.41. 100,372 shares traded hands during trading, a decline of 89% from the average session volume of 935,527 shares. The stock had previously closed at $8.12.

Analyst Ratings Changes

GOGO has been the topic of a number of research analyst reports. Morgan Stanley reduced their target price on Gogo from $15.00 to $12.00 and set an "equal weight" rating on the stock in a report on Tuesday. JPMorgan Chase & Co. initiated coverage on Gogo in a research report on Thursday, February 29th. They issued a "neutral" rating and a $11.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat.com, Gogo has a consensus rating of "Hold" and a consensus price target of $15.30.

Gogo Trading Up 1.5 %

The business has a fifty day simple moving average of $8.83 and a 200-day simple moving average of $9.69. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 7.56 and a beta of 1.08. The company has a debt-to-equity ratio of 14.43, a quick ratio of 3.49 and a current ratio of 4.37.

Gogo (NASDAQ:GOGO - Get Free Report) last posted its earnings results on Wednesday, February 28th. The technology company reported $0.11 EPS for the quarter, hitting the consensus estimate of $0.11. The business had revenue of $97.81 million for the quarter, compared to the consensus estimate of $96.56 million. Gogo had a net margin of 36.64% and a negative return on equity of 7,172.73%. The firm's revenue was down 9.6% compared to the same quarter last year. During the same period last year, the company earned $0.21 EPS. As a group, equities analysts forecast that Gogo Inc. will post 0.38 earnings per share for the current fiscal year.

Insider Transactions at Gogo

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in GOGO. Belpointe Asset Management LLC bought a new position in shares of Gogo in the 1st quarter worth $29,000. Great West Life Assurance Co. Can lifted its stake in shares of Gogo by 41.0% in the first quarter. Great West Life Assurance Co. Can now owns 2,178 shares of the technology company's stock valued at $44,000 after buying an additional 633 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Gogo by 432.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,609 shares of the technology company's stock valued at $39,000 after buying an additional 2,119 shares during the last quarter. Royal Bank of Canada increased its position in shares of Gogo by 76.6% during the third quarter. Royal Bank of Canada now owns 3,069 shares of the technology company's stock worth $37,000 after acquiring an additional 1,331 shares in the last quarter. Finally, UBS Group AG raised its holdings in shares of Gogo by 41.7% in the 3rd quarter. UBS Group AG now owns 4,033 shares of the technology company's stock worth $49,000 after acquiring an additional 1,186 shares during the last quarter. Institutional investors 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.