Gogo (NASDAQ:GOGO) Trading 5.3% Higher

Gogo Inc (NASDAQ:GOGO) traded up 5.3% during mid-day trading on Tuesday . The stock traded as high as $6.50 and last traded at $6.36, 3,175,176 shares traded hands during mid-day trading. An increase of 93% from the average session volume of 1,641,463 shares. The stock had previously closed at $6.04.

Several analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Gogo from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 14th. ValuEngine lowered shares of Gogo from a “hold” rating to a “sell” rating in a research report on Thursday, September 5th. Finally, BidaskClub lowered shares of Gogo from a “buy” rating to a “hold” rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $5.75.

The firm’s 50-day moving average price is $4.81 and its 200-day moving average price is $4.73. The company has a market cap of $560.11 million, a P/E ratio of -3.48 and a beta of 0.96.



Gogo (NASDAQ:GOGO) last posted its quarterly earnings results on Thursday, August 8th. The technology company reported ($0.47) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.59) by $0.12. The business had revenue of $213.70 million during the quarter, compared to the consensus estimate of $199.62 million. During the same period last year, the firm earned ($0.47) EPS. The business’s revenue for the quarter was down 6.1% on a year-over-year basis. Equities research analysts predict that Gogo Inc will post -1.92 earnings per share for the current year.

In other news, Director Hugh W. Jones bought 50,000 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were acquired at an average price of $3.98 per share, with a total value of $199,000.00. Following the acquisition, the director now owns 50,000 shares of the company’s stock, valued at approximately $199,000. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles C. Townsend bought 65,651 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The shares were purchased at an average cost of $3.94 per share, for a total transaction of $258,664.94. The disclosure for this purchase can be found here. In the last three months, insiders bought 265,851 shares of company stock worth $1,101,013. Insiders own 41.50% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its holdings in Gogo by 5.1% during the 2nd quarter. Vanguard Group Inc. now owns 5,456,403 shares of the technology company’s stock worth $21,717,000 after acquiring an additional 263,685 shares during the period. Elk Creek Partners LLC increased its holdings in Gogo by 8.7% during the 1st quarter. Elk Creek Partners LLC now owns 3,763,459 shares of the technology company’s stock worth $16,898,000 after acquiring an additional 302,573 shares during the period. North Peak Capital Management LLC increased its holdings in Gogo by 22.4% during the 2nd quarter. North Peak Capital Management LLC now owns 3,404,355 shares of the technology company’s stock worth $13,549,000 after acquiring an additional 623,708 shares during the period. Bank of America Corp DE increased its holdings in Gogo by 28.6% during the 2nd quarter. Bank of America Corp DE now owns 2,112,864 shares of the technology company’s stock worth $8,410,000 after acquiring an additional 469,268 shares during the period. Finally, Tenzing Global Management LLC increased its holdings in Gogo by 43.8% during the 2nd quarter. Tenzing Global Management LLC now owns 1,725,000 shares of the technology company’s stock worth $6,866,000 after acquiring an additional 525,000 shares during the period. 61.16% of the stock is currently owned by institutional investors and hedge funds.

About Gogo (NASDAQ:GOGO)

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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