Gogo (NASDAQ:GOGO) Insider Acquires 170,000 Shares

Gogo Inc. (NASDAQ:GOGO) insider Oakleigh Thorne bought 170,000 shares of the stock in a transaction on Friday, December 12th. The stock was purchased at an average cost of $5.34 per share, with a total value of $907,800.00. Following the acquisition, the insider owned 954,098 shares in the company, valued at approximately $5,094,883.32. This represents a 21.68% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Gogo Trading Down 4.3%

Shares of GOGO stock traded down $0.21 during mid-day trading on Tuesday, reaching $4.70. 3,438,833 shares of the stock traded hands, compared to its average volume of 1,863,827. The company has a market cap of $629.10 million, a price-to-earnings ratio of -94.00 and a beta of 0.90. The company has a quick ratio of 1.40, a current ratio of 1.74 and a debt-to-equity ratio of 7.79. The stock’s fifty day simple moving average is $7.81 and its two-hundred day simple moving average is $10.86. Gogo Inc. has a 1-year low of $4.67 and a 1-year high of $16.82.

Gogo (NASDAQ:GOGO) last released its quarterly earnings data on Thursday, November 6th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.12). The firm had revenue of $223.59 million during the quarter, compared to analyst estimates of $222.23 million. Gogo had a negative net margin of 0.65% and a positive return on equity of 71.74%. The business’s quarterly revenue was up 122.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.08 EPS. On average, research analysts anticipate 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 business. Brighton Jones LLC grew its stake in Gogo by 69.6% during the fourth quarter. Brighton Jones LLC now owns 17,000 shares of the technology company’s stock worth $138,000 after purchasing an additional 6,978 shares during the period. Vanguard Group Inc. lifted its stake in Gogo by 9.3% in the first quarter. Vanguard Group Inc. now owns 5,695,358 shares of the technology company’s stock valued at $49,094,000 after buying an additional 485,145 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Gogo by 4.6% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 580,545 shares of the technology company’s stock worth $5,004,000 after buying an additional 25,623 shares in the last quarter. Invesco Ltd. grew its position in shares of Gogo by 4.5% during the 1st quarter. Invesco Ltd. now owns 184,680 shares of the technology company’s stock worth $1,592,000 after buying an additional 7,958 shares during the period. Finally, Nuveen LLC bought a new stake in shares of Gogo in the 1st quarter valued at $1,927,000. 69.60% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on GOGO shares. William Blair downgraded shares of Gogo from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 9th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Gogo in a research report on Monday. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Gogo has an average rating of “Hold” and an average target price of $14.83.

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.