Key Points
- Oakleigh Thorne purchased 170,000 shares of Gogo at an average price of $5.34 on Dec. 12 (totaling $907,800), boosting his position 21.68% to 954,098 shares and disclosed in an SEC filing.
- Gogo recently reported a quarterly EPS of ($0.01) (missing estimates) on revenue of $223.59M, up 122.4% YoY, while the stock trades near its 12‑month low and the company has a negative P/E.
- Analysts have an average rating of Hold with a consensus price target of $14.83, and institutional investors own about 69.6% of the shares (Vanguard holds ~5.7M shares).
Gogo Inc. (NASDAQ:GOGO - Get Free Report) insider Oakleigh Thorne bought 170,000 shares of the firm's stock in a transaction that occurred on Friday, December 12th. The stock was bought at an average price of $5.34 per share, with a total value of $907,800.00. Following the completion of the acquisition, the insider owned 954,098 shares of the company's stock, valued at $5,094,883.32. This trade represents a 21.68% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.
Gogo Trading Down 4.3%
GOGO opened at $4.70 on Wednesday. The business has a fifty day moving average price of $7.73 and a 200 day moving average price of $10.82. The company has a debt-to-equity ratio of 7.79, a current ratio of 1.74 and a quick ratio of 1.40. Gogo Inc. has a 12 month low of $4.67 and a 12 month high of $16.82. The stock has a market capitalization of $629.10 million, a price-to-earnings ratio of -94.00 and a beta of 0.89.
Gogo (NASDAQ:GOGO - Get Free Report) last posted its quarterly earnings results on Thursday, November 6th. The technology company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.11 by ($0.12). Gogo had a negative net margin of 0.65% and a positive return on equity of 71.74%. The company had revenue of $223.59 million during the quarter, compared to analyst estimates of $222.23 million. During the same period in the prior year, the business earned $0.08 EPS. Gogo's revenue for the quarter was up 122.4% on a year-over-year basis. Sell-side analysts expect that Gogo Inc. will post 0.41 earnings per share for the current fiscal year.
Hedge Funds Weigh In On Gogo
Several hedge funds have recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its holdings 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 in the last quarter. Vanguard Group Inc. grew its position in shares of Gogo by 9.3% in the 1st 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 last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Gogo by 4.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 580,545 shares of the technology company's stock valued at $5,004,000 after buying an additional 25,623 shares during the last quarter. Invesco Ltd. raised its stake in 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 acquiring an additional 7,958 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in Gogo in the first quarter valued at $1,927,000. 69.60% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have commented on GOGO shares. Weiss Ratings reiterated a "sell (d)" rating on shares of Gogo in a report on Monday. William Blair cut shares of Gogo from an "outperform" rating to a "market perform" rating in a research report on Tuesday, December 9th. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Gogo currently has an average rating of "Hold" and a consensus price target of $14.83.
Check Out Our Latest Report on Gogo
Gogo Company Profile
(
Get Free Report)
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.
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