Insider Selling: Gogo Inc. (NASDAQ:GOGO) CAO Sells 6,675 Shares of Stock

Gogo Inc. (NASDAQ:GOGO) CAO Michael P. Bayer sold 6,675 shares of the company’s stock in a transaction on Tuesday, June 8th. The stock was sold at an average price of $14.45, for a total value of $96,453.75. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

GOGO opened at $12.66 on Friday. Gogo Inc. has a 12 month low of $2.30 and a 12 month high of $17.23. The company has a fifty day moving average price of $11.63. The company has a market cap of $1.39 billion, a PE ratio of -6.03 and a beta of 1.22.

Gogo (NASDAQ:GOGO) last released its quarterly earnings data on Thursday, May 6th. The technology company reported ($0.09) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.04. The firm had revenue of $73.90 million during the quarter, compared to the consensus estimate of $73.85 million. During the same quarter in the prior year, the company earned ($1.04) EPS. Gogo’s quarterly revenue was up 4.2% on a year-over-year basis. On average, research analysts anticipate that Gogo Inc. will post 0.09 EPS for the current year.

Several research analysts have issued reports on the company. Morgan Stanley reaffirmed an “equal weight” rating and set a $13.00 price objective on shares of Gogo in a report on Tuesday, February 23rd. Cowen upped their price objective on Gogo from $14.00 to $15.00 and gave the stock an “outperform” rating in a report on Monday, May 10th. William Blair raised Gogo from a “market perform” rating to an “outperform” rating in a report on Sunday, April 4th. Finally, Zacks Investment Research downgraded Gogo from a “buy” rating to a “hold” rating in a report on Wednesday, March 17th. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $10.67.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Federated Hermes Inc. increased its position in shares of Gogo by 101.9% in the 1st quarter. Federated Hermes Inc. now owns 2,784 shares of the technology company’s stock valued at $27,000 after buying an additional 1,405 shares in the last quarter. Metropolitan Life Insurance Co NY bought a new stake in shares of Gogo in the 1st quarter valued at $73,000. Public Employees Retirement System of Ohio bought a new stake in shares of Gogo in the 4th quarter valued at $77,000. Nadler Financial Group Inc. bought a new stake in shares of Gogo in the 1st quarter valued at $103,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Gogo in the 4th quarter valued at $106,000. Institutional investors and hedge funds own 46.05% of the company’s stock.

About 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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Insider Buying and Selling by Quarter for Gogo (NASDAQ:GOGO)

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