Gogo (NASDAQ:GOGO) Trading 8.6% Higher – Time to Buy?

Gogo Inc. (NASDAQ:GOGO) shot up 8.6% on Monday . The stock traded as high as $7.80 and last traded at $8.06. 493,050 shares traded hands during mid-day trading, a decline of 55% from the average session volume of 1,095,192 shares. The stock had previously closed at $7.42.

Analysts Set New Price Targets

GOGO has been the subject of a number of recent analyst reports. StockNews.com cut Gogo from a “hold” rating to a “sell” rating in a report on Monday, March 17th. Roth Mkm decreased their target price on Gogo from $15.50 to $13.00 and set a “buy” rating for the company in a research report on Monday, March 17th.

Gogo Trading Up 10.8 %

The stock’s 50-day moving average price is $7.75 and its 200 day moving average price is $7.55. The company has a debt-to-equity ratio of 11.07, a current ratio of 3.58 and a quick ratio of 2.81. The firm has a market capitalization of $1.08 billion, a PE ratio of 19.12 and a beta of 1.01.

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

Insider Activity at Gogo

In other Gogo news, Director Oakleigh Thorne bought 30,173 shares of the business’s stock in a transaction on Monday, March 17th. The shares were acquired at an average price of $6.57 per share, with a total value of $198,236.61. Following the transaction, the director now owns 711,341 shares of the company’s stock, valued at approximately $4,673,510.37. This trade represents a 4.43 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 26.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Gogo

Several hedge funds have recently modified their holdings of the business. FMR LLC increased its holdings in Gogo by 138.4% during the fourth quarter. FMR LLC now owns 13,475,009 shares of the technology company’s stock valued at $109,013,000 after buying an additional 7,821,973 shares during the period. Capco Asset Management LLC increased its holdings in shares of Gogo by 22.1% in the 4th quarter. Capco Asset Management LLC now owns 3,009,743 shares of the technology company’s stock valued at $24,349,000 after acquiring an additional 544,178 shares during the period. Nantahala Capital Management LLC increased its holdings in shares of Gogo by 441.5% in the 4th quarter. Nantahala Capital Management LLC now owns 2,574,642 shares of the technology company’s stock valued at $20,829,000 after acquiring an additional 2,099,145 shares during the period. State Street Corp raised its position 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 worth $17,675,000 after acquiring an additional 51,681 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its stake in shares of Gogo by 15.8% during the 4th quarter. William Blair Investment Management LLC now owns 2,424,378 shares of the technology company’s stock worth $19,613,000 after purchasing an additional 330,961 shares during the last quarter. Hedge funds and other 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.