Investors Buy Large Volume of Call Options on Gogo (NASDAQ:GOGO)

Gogo Inc. (NASDAQ:GOGO) was the target of some unusual options trading on Tuesday. Stock traders purchased 9,871 call options on the stock. This represents an increase of 688% compared to the average daily volume of 1,253 call options.

Analyst Ratings Changes

A number of brokerages have commented on GOGO. JPMorgan Chase & Co. decreased their price objective on Gogo from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Roth Mkm reaffirmed a “buy” rating and set a $15.50 price target on shares of Gogo in a research report on Tuesday, September 17th. Finally, Morgan Stanley dropped their price objective on shares of Gogo from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 3rd.

Gogo Price Performance

Gogo stock traded up $2.22 during mid-day trading on Tuesday, reaching $8.77. 4,525,539 shares of the company were exchanged, compared to its average volume of 959,569. The firm has a market cap of $1.11 billion, a PE ratio of 16.49 and a beta of 1.10. The company has a debt-to-equity ratio of 11.25, a current ratio of 3.95 and a quick ratio of 3.16. The company has a fifty day simple moving average of $7.10 and a 200-day simple moving average of $8.51. Gogo has a 12 month low of $6.17 and a 12 month high of $11.17.

Gogo (NASDAQ:GOGO) last issued its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.06). Gogo had a return on equity of 145.01% and a net margin of 16.59%. The company had revenue of $102.10 million during the quarter, compared to the consensus estimate of $99.02 million. During the same quarter in the previous year, the business posted $0.20 EPS. The firm’s revenue for the quarter was down 1.1% on a year-over-year basis. As a group, equities research analysts expect that Gogo will post 0.35 earnings per share for the current fiscal year.

Institutional Trading of Gogo

A number of institutional investors and hedge funds have recently made changes to their positions in GOGO. nVerses Capital LLC bought a new position in Gogo in the third quarter valued at approximately $34,000. Brighton Jones LLC bought a new position in shares of Gogo in the 3rd quarter valued at $72,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of Gogo during the 2nd quarter worth $107,000. AQR Capital Management LLC bought a new stake in shares of Gogo during the 2nd quarter worth $108,000. Finally, SG Americas Securities LLC acquired a new stake in Gogo in the second quarter valued at about $109,000. Institutional investors own 69.60% of the company’s stock.

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.