Gogo (NASDAQ:GOGO) Shares Gap Up to $9.25

Gogo Inc. (NASDAQ:GOGOGet Free Report) shares gapped up prior to trading on Wednesday . The stock had previously closed at $9.25, but opened at $10.15. Gogo shares last traded at $10.65, with a volume of 364,931 shares changing hands.

Wall Street Analyst Weigh In

Several brokerages recently commented on GOGO. JPMorgan Chase & Co. reduced their target price on Gogo from $18.00 to $15.00 and set a “neutral” rating for the company in a research report on Wednesday, November 8th. Roth Mkm reduced their target price on Gogo from $18.75 to $17.50 and set a “buy” rating for the company in a research report on Tuesday, December 12th. Two investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $17.13.

Get Our Latest Stock Analysis on Gogo

Gogo Stock Down 0.1 %

The company has a debt-to-equity ratio of 17.55, a current ratio of 4.59 and a quick ratio of 3.58. The firm has a 50 day simple moving average of $9.54 and a 200-day simple moving average of $11.08. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 8.34 and a beta of 1.12.

Gogo (NASDAQ:GOGOGet Free Report) last released its quarterly earnings data on Tuesday, November 7th. The technology company reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.13 by $0.03. Gogo had a negative return on equity of 263.04% and a net margin of 38.95%. The firm had revenue of $97.95 million during the quarter, compared to analyst estimates of $103.78 million. During the same period in the prior year, the company posted $0.15 earnings per share. The business’s revenue for the quarter was down 7.0% compared to the same quarter last year. On average, sell-side analysts forecast that Gogo Inc. will post 0.66 EPS for the current fiscal year.

Insider Activity

In other news, EVP Karen Jackson sold 33,077 shares of the firm’s stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $10.36, for a total value of $342,677.72. Following the completion of the sale, the executive vice president now directly owns 86,279 shares in the company, valued at $893,850.44. The sale was disclosed in a filing with the SEC, which is accessible through this link. 26.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Gogo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SCP Investment LP increased its position in Gogo by 40.3% in the third quarter. SCP Investment LP now owns 905,000 shares of the technology company’s stock worth $10,797,000 after purchasing an additional 260,000 shares during the period. ProShare Advisors LLC acquired a new stake in Gogo in the second quarter worth about $176,000. WINTON GROUP Ltd acquired a new stake in Gogo in the second quarter worth about $380,000. Gamco Investors INC. ET AL increased its position in Gogo by 32.9% in the third quarter. Gamco Investors INC. ET AL now owns 361,400 shares of the technology company’s stock worth $4,312,000 after purchasing an additional 89,500 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Gogo by 7.9% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 74,128 shares of the technology company’s stock worth $1,261,000 after purchasing an additional 5,402 shares during the period. 66.88% of the stock is currently owned by institutional investors and hedge funds.

Gogo Company Profile

(Get Free Report)

Gogo Inc, through its subsidiaries, provides broadband connectivity services to the aviation industry in the United States and internationally. The company operates through Commercial Aviation-North America, Commercial Aviation-Rest of World, and Business Aviation segments. Its platform include networks, antennas, and airborne equipment and software.

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