Gogo Inc. (NASDAQ:GOGO) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Gogo Inc. (NASDAQ:GOGO) have received an average recommendation of “Moderate Buy” from the four ratings firms that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The average 1 year target price among brokers that have covered the stock in the last year is $15.30.

GOGO has been the topic of a number of research reports. JPMorgan Chase & Co. initiated coverage on Gogo in a research report on Thursday, February 29th. They set a “neutral” rating and a $11.00 price objective on the stock. Morgan Stanley lowered their price objective on Gogo from $15.00 to $12.00 and set an “equal weight” rating on the stock in a research report on Tuesday.

Insider Buying and Selling at Gogo

In other Gogo news, Director Charles C. Townsend bought 28,857 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were bought at an average price of $9.03 per share, for a total transaction of $260,578.71. Following the completion of the acquisition, the director now owns 1,740,588 shares of the company’s stock, valued at $15,717,509.64. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Gogo news, Director Harris N. Williams bought 12,000 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were bought at an average price of $8.10 per share, for a total transaction of $97,200.00. Following the completion of the acquisition, the director now owns 20,990 shares of the company’s stock, valued at $170,019. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Charles C. Townsend bought 28,857 shares of the firm’s stock in a transaction dated Thursday, March 14th. The shares were acquired at an average price of $9.03 per share, for a total transaction of $260,578.71. Following the acquisition, the director now directly owns 1,740,588 shares of the company’s stock, valued at approximately $15,717,509.64. The disclosure for this purchase can be found here. Company insiders own 26.00% of the company’s stock.

Hedge Funds Weigh In On Gogo

Several large investors have recently made changes to their positions in the company. Great West Life Assurance Co. Can lifted its stake in shares of Gogo by 41.0% during the first quarter. Great West Life Assurance Co. Can now owns 2,178 shares of the technology company’s stock valued at $44,000 after acquiring an additional 633 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of Gogo by 1.1% during the third quarter. Thrivent Financial for Lutherans now owns 67,844 shares of the technology company’s stock valued at $822,000 after acquiring an additional 721 shares during the period. AQR Capital Management LLC lifted its stake in shares of Gogo by 7.5% during the third quarter. AQR Capital Management LLC now owns 14,913 shares of the technology company’s stock valued at $178,000 after acquiring an additional 1,035 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in shares of Gogo by 2.4% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 43,731 shares of the technology company’s stock valued at $443,000 after acquiring an additional 1,042 shares during the period. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in shares of Gogo by 5.4% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 22,437 shares of the technology company’s stock valued at $382,000 after acquiring an additional 1,152 shares during the period. Institutional investors and hedge funds own 69.60% of the company’s stock.

Gogo Price Performance

Shares of GOGO stock remained flat at $8.12 during trading hours on Tuesday. The stock had a trading volume of 1,317,397 shares, compared to its average volume of 941,629. Gogo has a one year low of $7.53 and a one year high of $17.94. The company has a market capitalization of $1.04 billion, a PE ratio of 7.45 and a beta of 1.08. The business’s fifty day simple moving average is $8.86 and its two-hundred day simple moving average is $9.72. The company has a quick ratio of 3.49, a current ratio of 4.37 and a debt-to-equity ratio of 14.43.

Gogo (NASDAQ:GOGO) last issued its quarterly earnings results on Wednesday, February 28th. The technology company reported $0.11 EPS for the quarter, hitting analysts’ consensus estimates of $0.11. Gogo had a negative return on equity of 7,172.73% and a net margin of 36.64%. The company had revenue of $97.81 million during the quarter, compared to analyst estimates of $96.56 million. During the same period in the previous year, the company earned $0.21 earnings per share. The company’s quarterly revenue was down 9.6% compared to the same quarter last year. As a group, research analysts expect that Gogo will post 0.38 EPS for the current fiscal year.

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.