Gogo (NASDAQ:GOGO) Upgraded to Hold at StockNews.com

Gogo (NASDAQ:GOGO) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.

Separately, Roth Mkm dropped their price target on Gogo from $15.50 to $13.00 and set a “buy” rating on the stock in a research report on Monday, March 17th.

Gogo Price Performance

Shares of NASDAQ:GOGO opened at $11.86 on Monday. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 27.58 and a beta of 0.93. The business has a 50 day moving average price of $7.63 and a 200 day moving average price of $7.76. The company has a quick ratio of 2.81, a current ratio of 3.58 and a debt-to-equity ratio of 11.07. Gogo has a twelve month low of $6.17 and a twelve month high of $12.90.

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

Insider Transactions at Gogo

In other news, Director Oakleigh Thorne acquired 30,173 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were bought at an average price of $6.57 per share, with a total value of $198,236.61. Following the acquisition, the director now owns 711,341 shares of the company’s stock, valued at $4,673,510.37. This trade represents a 4.43% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 26.00% of the stock is owned by insiders.

Institutional Trading of Gogo

Several institutional investors have recently modified their holdings of GOGO. Van ECK Associates Corp boosted its stake in Gogo by 256.1% in the 4th quarter. Van ECK Associates Corp now owns 154,706 shares of the technology company’s stock valued at $1,252,000 after buying an additional 111,267 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Gogo by 8.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,073,039 shares of the technology company’s stock valued at $8,678,000 after buying an additional 85,412 shares in the last quarter. Amundi boosted its stake in Gogo by 142.9% in the 4th quarter. Amundi now owns 26,387 shares of the technology company’s stock valued at $200,000 after buying an additional 15,525 shares in the last quarter. LB Partners LLC boosted its stake in Gogo by 8.6% in the 4th quarter. LB Partners LLC now owns 2,221,092 shares of the technology company’s stock valued at $17,969,000 after buying an additional 176,092 shares in the last quarter. Finally, Barclays PLC boosted its stake in Gogo by 357.5% in the 3rd quarter. Barclays PLC now owns 109,959 shares of the technology company’s stock valued at $789,000 after buying an additional 85,925 shares in the last quarter. Institutional investors and hedge funds 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.