Gogo Inc (NASDAQ:GOGO) saw strong trading volume on Monday . 5,217,470 shares were traded during mid-day trading, an increase of 265% from the previous session’s volume of 1,427,740 shares.The stock last traded at $4.56 and had previously closed at $4.22.
A number of research analysts have weighed in on the company. BidaskClub upgraded Gogo from a “sell” rating to a “hold” rating in a report on Tuesday. Northland Securities reiterated a “sell” rating and set a $1.50 target price on shares of Gogo in a research report on Friday, February 22nd. Finally, Zacks Investment Research upgraded shares of Gogo from a “hold” rating to a “buy” rating and set a $4.75 target price for the company in a research report on Thursday, February 21st. One research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $6.06.
The firm has a market capitalization of $410.66 million, a price-to-earnings ratio of -2.65 and a beta of 1.29.
Gogo (NASDAQ:GOGO) last released its quarterly earnings results on Thursday, February 21st. The technology company reported ($0.74) earnings per share for the quarter, hitting the consensus estimate of ($0.74). The firm had revenue of $217.22 million for the quarter, compared to analysts’ expectations of $214.50 million. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.52) earnings per share. As a group, equities research analysts forecast that Gogo Inc will post -2.05 earnings per share for the current fiscal year.
In other Gogo news, Director Charles C. Townsend acquired 277,405 shares of the stock in a transaction that occurred on Wednesday, February 27th. The stock was bought at an average cost of $4.36 per share, with a total value of $1,209,485.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 36.20% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in GOGO. Dynamic Technology Lab Private Ltd acquired a new position in shares of Gogo during the third quarter worth $105,000. Man Group plc purchased a new stake in shares of Gogo during the third quarter valued at $343,000. MetLife Investment Advisors LLC boosted its stake in shares of Gogo by 56.3% during the third quarter. MetLife Investment Advisors LLC now owns 42,843 shares of the technology company’s stock valued at $222,000 after purchasing an additional 15,424 shares during the period. Teachers Advisors LLC boosted its stake in shares of Gogo by 33.6% during the third quarter. Teachers Advisors LLC now owns 373,014 shares of the technology company’s stock valued at $1,936,000 after purchasing an additional 93,763 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its stake in shares of Gogo by 7.6% during the third quarter. TIAA CREF Investment Management LLC now owns 449,894 shares of the technology company’s stock valued at $2,335,000 after purchasing an additional 31,817 shares during the period. 56.96% of the stock is owned by institutional investors.
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About Gogo (NASDAQ:GOGO)
Gogo Inc, through its subsidiaries, provides inflight broadband connectivity and wireless entertainment services to the aviation industry in the United States and internationally. It operates through three segments: Commercial Aviation North America (CA-NA), Commercial Aviation Rest of World (CA-ROW), and Business Aviation (BA).
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