BidaskClub downgraded shares of Gogo (NASDAQ:GOGO) from a sell rating to a strong sell rating in a research note issued to investors on Tuesday.
GOGO has been the subject of a number of other research reports. Northland Securities began coverage on Gogo in a research report on Tuesday, September 19th. They issued an under perform rating and a $6.75 price target for the company. ValuEngine upgraded Gogo from a sell rating to a hold rating in a research report on Sunday, December 31st. Zacks Investment Research upgraded Gogo from a sell rating to a hold rating in a research report on Tuesday, December 26th. Finally, Guggenheim restated a buy rating and issued a $16.00 price target on shares of Gogo in a research report on Monday, October 9th. Two equities research analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $14.35.
Gogo (GOGO) traded down $0.26 during mid-day trading on Tuesday, reaching $10.09. The company’s stock had a trading volume of 963,400 shares, compared to its average volume of 771,670. Gogo has a 52 week low of $8.56 and a 52 week high of $14.76. The company has a debt-to-equity ratio of -6.40, a quick ratio of 2.02 and a current ratio of 2.20. The company has a market capitalization of $881.61, a P/E ratio of -5.07 and a beta of 1.69.
Gogo (NASDAQ:GOGO) last posted its earnings results on Thursday, November 2nd. The technology company reported ($0.57) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.06). The business had revenue of $172.87 million during the quarter, compared to the consensus estimate of $172.92 million. The business’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter last year, the company posted ($0.42) earnings per share. sell-side analysts anticipate that Gogo will post -2.11 EPS for the current year.
In related news, insider Michael Small purchased 100,000 shares of Gogo stock in a transaction on Monday, November 6th. The stock was acquired at an average price of $8.79 per share, for a total transaction of $879,000.00. Following the completion of the transaction, the insider now directly owns 398,224 shares in the company, valued at approximately $3,500,388.96. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 37.30% of the company’s stock.
Several large investors have recently added to or reduced their stakes in GOGO. Schwab Charles Investment Management Inc. grew its position in shares of Gogo by 1.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 262,289 shares of the technology company’s stock worth $3,025,000 after purchasing an additional 2,966 shares in the last quarter. Rhumbline Advisers grew its position in shares of Gogo by 2.5% during the second quarter. Rhumbline Advisers now owns 63,396 shares of the technology company’s stock worth $731,000 after purchasing an additional 1,529 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Gogo by 5.7% during the second quarter. Bank of New York Mellon Corp now owns 244,268 shares of the technology company’s stock worth $2,817,000 after purchasing an additional 13,237 shares in the last quarter. Legal & General Group Plc grew its position in shares of Gogo by 3.8% during the second quarter. Legal & General Group Plc now owns 15,326 shares of the technology company’s stock worth $178,000 after purchasing an additional 556 shares in the last quarter. Finally, Alliancebernstein L.P. grew its position in shares of Gogo by 9.5% during the second quarter. Alliancebernstein L.P. now owns 67,000 shares of the technology company’s stock worth $773,000 after purchasing an additional 5,800 shares in the last quarter. Hedge funds and other institutional investors own 69.82% of the company’s stock.
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Gogo Company Profile
Gogo Inc is a holding company. The Company is a provider of in-flight broadband connectivity and connectivity-enabled services to commercial and business aviation. The Company operates through three segments: Commercial Aviation North America (CA-NA), Commercial Aviation Rest of World (CA-ROW) and Business Aviation (BA).
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