Gogo Sees Unusually High Options Volume (NASDAQ:GOGO)

Gogo Inc. (NASDAQ:GOGO) was the target of unusually large options trading on Thursday. Investors purchased 20,208 call options on the stock. This is an increase of approximately 1,120% compared to the typical daily volume of 1,657 call options.

Hedge Funds Weigh In On Gogo

Hedge funds and other institutional investors have recently modified their holdings of the company. SG Americas Securities LLC lifted its position in Gogo by 149.8% in the 3rd quarter. SG Americas Securities LLC now owns 28,177 shares of the technology company’s stock valued at $202,000 after purchasing an additional 16,898 shares during the last quarter. nVerses Capital LLC bought a new position in Gogo in the 3rd quarter worth about $34,000. Brighton Jones LLC acquired a new stake in shares of Gogo in the third quarter valued at approximately $72,000. Van ECK Associates Corp raised its holdings in shares of Gogo by 44.0% during the third quarter. Van ECK Associates Corp now owns 43,439 shares of the technology company’s stock valued at $311,000 after buying an additional 13,283 shares during the last quarter. Finally, Olympiad Research LP acquired a new position in shares of Gogo during the third quarter worth approximately $318,000. Institutional investors and hedge funds own 69.60% of the company’s stock.

Gogo Trading Down 1.6 %

NASDAQ:GOGO opened at $7.88 on Friday. The firm has a market capitalization of $991.14 million, a P/E ratio of 18.33 and a beta of 1.13. The business has a 50 day simple moving average of $7.98 and a 200 day simple moving average of $7.62. The company has a debt-to-equity ratio of 11.07, a current ratio of 3.58 and a quick ratio of 2.81. Gogo has a 12-month low of $6.17 and a 12-month high of $11.00.

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.