Gogo Target of Unusually High Options Trading (NASDAQ:GOGO)

Gogo Inc. (NASDAQ:GOGO) was the target of some unusual options trading on Wednesday. Stock investors purchased 17,012 call options on the company. This represents an increase of 1,049% compared to the average volume of 1,480 call options.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Roth Mkm restated a “buy” rating and set a $15.50 price target on shares of Gogo in a report on Tuesday, September 17th. Morgan Stanley reduced their target price on shares of Gogo from $12.00 to $11.00 and set an “equal weight” rating on the stock in a research note on Tuesday, September 3rd.

Gogo Trading Up 1.1 %

Shares of GOGO traded up $0.09 during mid-day trading on Wednesday, reaching $8.10. 181,088 shares of the company’s stock traded hands, compared to its average volume of 1,014,162. Gogo has a 12 month low of $6.17 and a 12 month high of $11.17. The company has a debt-to-equity ratio of 11.07, a current ratio of 3.58 and a quick ratio of 2.81. The stock has a market cap of $1.02 billion, a P/E ratio of 18.63 and a beta of 1.18. The stock’s 50-day moving average is $7.55 and its two-hundred day moving average is $8.09.

Institutional Trading of Gogo

Hedge funds and other institutional investors have recently bought and sold shares of the business. Select Equity Group L.P. purchased a new position in shares of Gogo during the second quarter worth approximately $2,764,000. LB Partners LLC grew its stake in Gogo by 12.4% in the third quarter. LB Partners LLC now owns 2,045,000 shares of the technology company’s stock worth $14,683,000 after purchasing an additional 225,000 shares in the last quarter. FMR LLC increased its holdings in Gogo by 13.5% during the 3rd quarter. FMR LLC now owns 5,653,036 shares of the technology company’s stock worth $40,589,000 after purchasing an additional 673,315 shares during the period. Millennium Management LLC raised its position in Gogo by 19.0% during the 2nd quarter. Millennium Management LLC now owns 814,833 shares of the technology company’s stock valued at $7,839,000 after purchasing an additional 130,344 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its holdings in shares of Gogo by 7.9% in the 2nd quarter. William Blair Investment Management LLC now owns 2,073,693 shares of the technology company’s stock worth $19,949,000 after buying an additional 152,338 shares during the period. Hedge funds and other institutional investors own 69.60% of the company’s stock.

About Gogo

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.