Key Points
- Gogo director Charles Townsend bought 91,409 shares on March 11 at an average price of $4.54 (totaling $414,996.86), increasing his holdings to 260,095 shares—a 54.19% boost.
- The company reported a quarterly miss (EPS -$0.07 vs. $0.02 expected) despite revenue rising 67.3% to $230.56M, and analysts hold a consensus “Hold” rating with a $12.25 price target.
Gogo Inc. (NASDAQ:GOGO - Get Free Report) Director Charles Townsend acquired 91,409 shares of the business's stock in a transaction on Wednesday, March 11th. The shares were purchased at an average price of $4.54 per share, with a total value of $414,996.86. Following the completion of the purchase, the director owned 260,095 shares in the company, valued at $1,180,831.30. This represents a 54.19% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.
Gogo Price Performance
Shares of Gogo stock opened at $4.31 on Friday. The stock has a market capitalization of $580.47 million, a P/E ratio of 43.10 and a beta of 1.07. The business has a 50 day simple moving average of $4.60 and a two-hundred day simple moving average of $6.79. Gogo Inc. has a 12 month low of $3.85 and a 12 month high of $16.82. The company has a debt-to-equity ratio of 8.24, a current ratio of 1.60 and a quick ratio of 1.24.
Gogo (NASDAQ:GOGO - Get Free Report) last issued its quarterly earnings results on Friday, February 27th. The technology company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.09). Gogo had a return on equity of 55.95% and a net margin of 1.42%.The firm had revenue of $230.56 million for the quarter, compared to analysts' expectations of $222.65 million. During the same quarter in the previous year, the firm posted ($0.22) earnings per share. The firm's revenue for the quarter was up 67.3% compared to the same quarter last year. As a group, analysts predict that Gogo Inc. will post 0.41 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
A number of brokerages have recently commented on GOGO. Weiss Ratings reiterated a "sell (d)" rating on shares of Gogo in a research report on Monday, December 29th. William Blair lowered shares of Gogo from an "outperform" rating to a "market perform" rating in a research report on Tuesday, December 9th. Finally, Morgan Stanley set a $8.00 price objective on shares of Gogo in a report on Friday, January 16th. One research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $12.25.
Read Our Latest Analysis on Gogo
Institutional Trading of Gogo
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Nantahala Capital Management LLC purchased a new position in shares of Gogo during the 4th quarter worth $31,654,000. Vanguard Group Inc. grew its holdings in shares of Gogo by 6.3% in the third quarter. Vanguard Group Inc. now owns 6,651,058 shares of the technology company's stock valued at $57,133,000 after purchasing an additional 396,236 shares during the period. William Blair Investment Management LLC grew its holdings in shares of Gogo by 6.9% in the third quarter. William Blair Investment Management LLC now owns 6,067,663 shares of the technology company's stock valued at $52,121,000 after purchasing an additional 393,830 shares during the period. LB Partners LLC increased its position in Gogo by 30.0% during the third quarter. LB Partners LLC now owns 3,228,979 shares of the technology company's stock worth $27,737,000 after purchasing an additional 745,000 shares during the last quarter. Finally, State Street Corp raised its stake in Gogo by 7.0% during the fourth quarter. State Street Corp now owns 3,136,833 shares of the technology company's stock worth $14,618,000 after purchasing an additional 204,296 shares during the period. 69.60% of the stock is owned by institutional investors and hedge funds.
Gogo Company Profile
(
Get Free Report)
Gogo Inc is a leading provider of in-flight connectivity and entertainment solutions for commercial and business aviation. The company specializes in delivering broadband internet, voice and text services, and streaming entertainment to passengers at 35,000 feet. Gogo's offerings include both air-to-ground (ATG) networks and satellite-based connectivity, enabling reliable in-flight internet access across a range of aircraft types.
Gogo's ATG network spans the United States and portions of Canada, using ground towers to transmit data signals directly to equipped aircraft.
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