Gogo Sees Unusually Large Options Volume (NASDAQ:GOGO)

Gogo Inc. (NASDAQ:GOGO) was the target of some unusual options trading on Friday. Stock investors acquired 5,617 call options on the company. This is an increase of 168% compared to the typical volume of 2,095 call options.

Analysts Set New Price Targets

A number of research firms have commented on GOGO. Roth Mkm cut their target price on shares of Gogo from $15.50 to $13.00 and set a “buy” rating on the stock in a research report on Monday, March 17th. StockNews.com cut Gogo from a “hold” rating to a “sell” rating in a research report on Monday, March 17th.

Gogo Stock Up 45.0 %

NASDAQ:GOGO opened at $10.98 on Friday. The company has a debt-to-equity ratio of 11.07, a quick ratio of 2.81 and a current ratio of 3.58. The stock has a market capitalization of $1.45 billion, a P/E ratio of 25.53 and a beta of 0.93. The company’s 50-day simple moving average is $7.52 and its 200-day simple moving average is $7.72. Gogo has a fifty-two week low of $6.17 and a fifty-two week high of $11.34.

Gogo (NASDAQ:GOGO) last released its quarterly earnings results on Friday, May 9th. The technology company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.13. Gogo had a net margin of 13.94% and a return on equity of 121.96%. The business had revenue of $230.31 million for the quarter, compared to analyst estimates of $214.93 million. During the same period in the previous year, the company earned $0.23 earnings per share. The business’s revenue for the quarter was up 120.8% on a year-over-year basis. On average, equities analysts anticipate that Gogo will post 0.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Gogo

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

Institutional Investors Weigh In On Gogo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC boosted its stake in Gogo by 138.4% in the 4th quarter. FMR LLC now owns 13,475,009 shares of the technology company’s stock worth $109,013,000 after purchasing an additional 7,821,973 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Gogo by 9.3% during the first quarter. Vanguard Group Inc. now owns 5,695,358 shares of the technology company’s stock worth $49,094,000 after buying an additional 485,145 shares during the period. Capco Asset Management LLC increased its position 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 position 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. Finally, William Blair Investment Management LLC raised its stake in Gogo by 15.8% in 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 acquiring an additional 330,961 shares during the last quarter. 69.60% of the stock is currently owned by hedge funds and other institutional investors.

About Gogo

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.