Gogo Inc. (NASDAQ:GOGO) Director Oakleigh Thorne Buys 30,173 Shares

Gogo Inc. (NASDAQ:GOGO) Director Oakleigh Thorne bought 30,173 shares of the stock in a transaction on Monday, March 17th. The stock was purchased at an average price of $6.57 per share, for a total transaction of $198,236.61. Following the completion of the purchase, the director now owns 711,341 shares of the company’s stock, valued at approximately $4,673,510.37. This trade represents a 4.43 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Gogo Stock Performance

Shares of GOGO opened at $6.93 on Wednesday. Gogo Inc. has a 52-week low of $6.17 and a 52-week high of $11.00. The stock’s 50-day simple moving average is $7.74 and its 200 day simple moving average is $7.56. The company has a debt-to-equity ratio of 11.07, a quick ratio of 2.81 and a current ratio of 3.58. The stock has a market capitalization of $871.65 million, a price-to-earnings ratio of 16.12 and a beta of 1.01.

Gogo (NASDAQ:GOGO) last announced its quarterly earnings results on Friday, March 14th. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. The firm had revenue of $137.80 million for the quarter, compared to the consensus estimate of $97.80 million. Gogo had a net margin of 13.94% and a return on equity of 121.96%. The company’s revenue for the quarter was up 40.9% on a year-over-year basis. During the same period in the prior year, the firm posted $0.11 earnings per share. Research analysts forecast that Gogo Inc. will post 0.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Royce & Associates LP raised its holdings in shares of Gogo by 39.4% in the 3rd quarter. Royce & Associates LP now owns 123,910 shares of the technology company’s stock valued at $890,000 after acquiring an additional 35,025 shares in the last quarter. Quest Partners LLC purchased a new stake in Gogo in the third quarter valued at approximately $158,000. Intech Investment Management LLC bought a new stake in shares of Gogo during the 3rd quarter worth $740,000. Charles Schwab Investment Management Inc. grew its position in Gogo by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 557,732 shares of the technology company’s stock worth $4,005,000 after acquiring an additional 3,181 shares in the last quarter. Finally, Algert Global LLC increased its stake in Gogo by 174.4% in the third quarter. Algert Global LLC now owns 120,500 shares of the technology company’s stock valued at $865,000 after acquiring an additional 76,590 shares during the last quarter. 69.60% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on GOGO. StockNews.com cut Gogo from a “hold” rating to a “sell” rating in a research note on Monday. Roth Mkm dropped their price target on shares of Gogo from $15.50 to $13.00 and set a “buy” rating on the stock in a research note on Monday.

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.