Gogo Inc. (NASDAQ:GOGO) Director Buys $198,236.61 in Stock

Gogo Inc. (NASDAQ:GOGO) Director Oakleigh Thorne purchased 30,173 shares of the business’s stock in a transaction on Monday, March 17th. The stock was acquired at an average cost of $6.57 per share, with a total value of $198,236.61. Following the completion of the acquisition, the director now directly owns 711,341 shares in the company, valued at $4,673,510.37. The trade was a 4.43 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Gogo Price Performance

GOGO stock opened at $7.72 on Friday. The company has a current ratio of 3.58, a quick ratio of 2.81 and a debt-to-equity ratio of 11.07. Gogo Inc. has a one year low of $6.17 and a one year high of $11.00. The firm has a market capitalization of $971.01 million, a PE ratio of 17.95 and a beta of 1.01. The firm has a 50-day moving average of $7.75 and a two-hundred day moving average of $7.56.

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on GOGO shares. Roth Mkm cut their price target on shares of Gogo from $15.50 to $13.00 and set a “buy” rating for the company in a report on Monday. StockNews.com downgraded shares of Gogo from a “hold” rating to a “sell” rating in a report on Monday.

Institutional Trading of Gogo

Hedge funds have recently bought and sold shares of the company. Barclays PLC lifted its stake in Gogo by 357.5% during the third quarter. Barclays PLC now owns 109,959 shares of the technology company’s stock valued at $789,000 after buying an additional 85,925 shares in the last quarter. Van ECK Associates Corp lifted its stake in Gogo by 256.1% during the fourth quarter. Van ECK Associates Corp now owns 154,706 shares of the technology company’s stock valued at $1,252,000 after buying an additional 111,267 shares in the last quarter. State Street Corp increased its holdings in shares of Gogo by 2.1% in the 3rd quarter. State Street Corp now owns 2,461,691 shares of the technology company’s stock valued at $17,675,000 after purchasing an additional 51,681 shares during the period. FMR LLC increased its holdings in shares of Gogo by 13.5% in the 3rd quarter. FMR LLC now owns 5,653,036 shares of the technology company’s stock valued at $40,589,000 after purchasing an additional 673,315 shares during the period. Finally, Dynamic Technology Lab Private Ltd increased its holdings in shares of Gogo by 612.1% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 253,114 shares of the technology company’s stock valued at $1,817,000 after purchasing an additional 217,570 shares during the period. 69.60% of the stock is owned by hedge funds and other institutional investors.

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.