Gogo (NASDAQ:GOGO) was upgraded by equities researchers at ValuEngine from a “sell” rating to a “hold” rating in a research note issued to investors on Tuesday.
Several other equities research analysts have also commented on the stock. Zacks Investment Research lowered shares of Gogo from a “hold” rating to a “sell” rating in a report on Wednesday, March 14th. Morgan Stanley reduced their price target on shares of Gogo from $7.00 to $3.00 and set a “positive” rating for the company in a report on Wednesday, May 30th. BidaskClub upgraded shares of Gogo from a “sell” rating to a “hold” rating in a report on Thursday, April 19th. Northland Securities reduced their price target on shares of Gogo from $3.50 to $1.50 and set an “under perform” rating for the company in a report on Friday, May 18th. Finally, William Blair restated a “buy” rating on shares of Gogo in a report on Tuesday, March 6th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $6.17.
NASDAQ:GOGO opened at $4.96 on Tuesday. Gogo has a one year low of $4.55 and a one year high of $14.76. The company has a debt-to-equity ratio of -5.26, a current ratio of 2.30 and a quick ratio of 1.69. The stock has a market capitalization of $443.72 million, a PE ratio of -2.29 and a beta of 1.30.
Gogo (NASDAQ:GOGO) last posted its quarterly earnings results on Friday, May 4th. The technology company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.58) by $0.24. The business had revenue of $231.83 million during the quarter, compared to the consensus estimate of $221.48 million. During the same quarter in the prior year, the firm posted ($0.52) EPS. The company’s revenue for the quarter was up 40.2% compared to the same quarter last year. research analysts forecast that Gogo will post -2.21 earnings per share for the current year.
In other news, Director Robert H. Mundheim acquired 10,000 shares of Gogo stock in a transaction that occurred on Monday, May 14th. The stock was purchased at an average price of $5.50 per share, for a total transaction of $55,000.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Thorndale Farm, Inc. acquired 187,529 shares of Gogo stock in a transaction that occurred on Wednesday, May 9th. The shares were purchased at an average price of $5.30 per share, with a total value of $993,903.70. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 844,444 shares of company stock valued at $4,324,637. 36.20% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of GOGO. HighPoint Advisor Group LLC bought a new position in shares of Gogo during the 4th quarter worth approximately $115,000. Millennium Management LLC purchased a new stake in Gogo during the 4th quarter worth approximately $115,000. Pinnacle Associates Ltd. purchased a new stake in Gogo during the 4th quarter worth approximately $127,000. Ladenburg Thalmann Financial Services Inc. grew its position in Gogo by 135.0% during the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 14,101 shares of the technology company’s stock worth $159,000 after purchasing an additional 8,100 shares during the last quarter. Finally, Guggenheim Capital LLC grew its position in Gogo by 65.0% during the 4th quarter. Guggenheim Capital LLC now owns 18,850 shares of the technology company’s stock worth $213,000 after purchasing an additional 7,424 shares during the last quarter. Hedge funds and other institutional investors own 74.25% of the company’s stock.
Gogo Company Profile
Gogo Inc, through its subsidiaries, provides inflight broadband connectivity and wireless entertainment services to the aviation industry in the United States and internationally. It 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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