Gogo Inc. (GOGO) Upgraded to “Hold” at Zacks Investment Research
According to Zacks, “Gogo Inc. offers in-flight connectivity and wireless digital entertainment solutions in-flights. It operates through Commercial Aviation and Business Aviation segments. The Company provides equipment for in-flight connectivity with voice and data services, wireless digital entertainment solutions. Gogo Inc. is headquartered in Itasca, Illinois. “
GOGO has been the topic of several other reports. JPMorgan Chase & Co. lowered their price objective on Gogo from $18.00 to $17.00 and set an overweight rating on the stock in a research report on Friday, August 5th. Morgan Stanley lowered their price objective on Gogo from $11.00 to $8.00 and set an underweight rating on the stock in a research report on Thursday, July 28th. William Blair reaffirmed a buy rating on shares of Gogo in a research report on Monday, June 6th. Standpoint Research cut Gogo from a buy rating to a hold rating in a research report on Thursday, August 18th. Finally, Dougherty & Co lowered their price objective on Gogo from $17.00 to $14.00 and set a buy rating on the stock in a research report on Wednesday, June 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $13.60.
Shares of Gogo (NASDAQ:GOGO) opened at 12.89 on Wednesday. The company’s 50 day moving average price is $11.97 and its 200 day moving average price is $10.35. Gogo has a 12 month low of $7.80 and a 12 month high of $19.61. The company’s market capitalization is $1.11 billion.
Gogo (NASDAQ:GOGO) last released its quarterly earnings data on Thursday, August 4th. The company reported ($0.51) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.40) by $0.11. The business earned $147.50 million during the quarter, compared to the consensus estimate of $141.46 million. Gogo had a negative net margin of 22.95% and a negative return on equity of 204.51%. The business’s revenue was up 21.7% compared to the same quarter last year. During the same period last year, the company posted ($0.32) earnings per share. Analysts expect that Gogo will post ($1.55) EPS for the current fiscal year.
In other Gogo news, insider Michael Small purchased 50,000 shares of the business’s stock in a transaction on Monday, August 8th. The stock was acquired at an average price of $10.37 per share, for a total transaction of $518,500.00. Following the purchase, the insider now owns 244,832 shares of the company’s stock, valued at approximately $2,538,907.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Charles C. Townsend purchased 200,000 shares of the business’s stock in a transaction on Monday, August 8th. The stock was acquired at an average price of $10.73 per share, with a total value of $2,146,000.00. The disclosure for this purchase can be found here. 37.70% of the stock is owned by insiders.
A number of large investors have recently modified their holdings of GOGO. Legal & General Group Plc raised its stake in shares of Gogo by 19.2% in the first quarter. Legal & General Group Plc now owns 9,701 shares of the company’s stock worth $106,000 after buying an additional 1,565 shares during the last quarter. Summit Securities Group LLC acquired a new stake in shares of Gogo during the second quarter worth about $143,000. Lazard Asset Management LLC acquired a new stake in shares of Gogo during the first quarter worth about $155,000. BlackRock Advisors LLC raised its stake in shares of Gogo by 5.4% in the second quarter. BlackRock Advisors LLC now owns 26,259 shares of the company’s stock worth $220,000 after buying an additional 1,340 shares during the last quarter. Finally, Quantbot Technologies LP raised its stake in shares of Gogo by 29.3% in the second quarter. Quantbot Technologies LP now owns 27,845 shares of the company’s stock worth $233,000 after buying an additional 6,307 shares during the last quarter. Institutional investors and hedge funds own 74.33% of the company’s stock.
Gogo Company Profile
Gogo Inc is a holding company. The Company is a provider of in-flight connectivity and wireless entertainment solutions for the aviation industry across the world. The Company operates through three segments: Commercial Aviation North America (CA-NA), Commercial Aviation Rest of World (CA-ROW) and Business Aviation (BA).
Receive News & Stock Ratings for Gogo Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gogo Inc. and related stocks with our FREE daily email newsletter.