Gogo Inc. (GOGO) Given Consensus Recommendation of “Hold” by Brokerages
Gogo Inc. (NASDAQ:GOGO) has earned a consensus rating of “Hold” from the seven brokerages that are currently covering the stock. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the company. The average 12 month price target among brokers that have covered the stock in the last year is $13.60.
A number of analysts have commented on the company. Zacks Investment Research raised Gogo from a “sell” rating to a “hold” rating in a report on Wednesday, September 28th. Standpoint Research upgraded Gogo from a “hold” rating to a “buy” rating and set a $16.00 target price on the stock in a research report on Wednesday, August 31st. William Blair reaffirmed an “outperform” rating on shares of Gogo in a report on Friday, September 30th. JPMorgan Chase & Co. decreased their price target on shares of Gogo from $18.00 to $17.00 and set an “overweight” rating on the stock in a report on Friday, August 5th. Finally, Morgan Stanley decreased their price target on shares of Gogo from $11.00 to $8.00 and set an “underweight” rating on the stock in a report on Thursday, July 28th.
Gogo (NASDAQ:GOGO) traded up 0.19% during trading on Monday, reaching $10.77. The company’s stock had a trading volume of 132,501 shares. Gogo has a 12 month low of $7.80 and a 12 month high of $19.61. The company’s market cap is $928.12 million. The stock’s 50 day moving average is $11.77 and its 200 day moving average is $10.35.
Gogo (NASDAQ:GOGO) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($0.51) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by $0.11. The company had revenue of $147.50 million for the quarter, compared to the consensus estimate of $141.46 million. Gogo had a negative return on equity of 204.51% and a negative net margin of 22.95%. The business’s revenue for the quarter was up 21.7% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.32) earnings per share. On average, equities analysts expect that Gogo will post ($1.55) EPS for the current fiscal year.
In other news, Director Charles C. Townsend bought 52,867 shares of Gogo stock in a transaction that occurred on Tuesday, August 30th. The shares were acquired at an average price of $11.84 per share, with a total value of $625,945.28. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert H. Mundheim bought 8,500 shares of Gogo stock in a transaction that occurred on Thursday, August 11th. The stock was purchased at an average cost of $11.53 per share, for a total transaction of $98,005.00. The disclosure for this purchase can be found here. 37.70% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in Gogo by 1.5% in the second quarter. Vanguard Group Inc. now owns 3,955,479 shares of the company’s stock worth $33,186,000 after buying an additional 57,049 shares in the last quarter. Capital World Investors boosted its position in Gogo by 72.1% in the second quarter. Capital World Investors now owns 3,640,000 shares of the company’s stock worth $30,540,000 after buying an additional 1,525,000 shares in the last quarter. Wellington Management Group LLP boosted its position in Gogo by 22.0% in the first quarter. Wellington Management Group LLP now owns 2,525,921 shares of the company’s stock worth $27,811,000 after buying an additional 455,535 shares in the last quarter. Elk Creek Partners LLC boosted its position in Gogo by 8.5% in the second quarter. Elk Creek Partners LLC now owns 2,385,733 shares of the company’s stock worth $20,016,000 after buying an additional 187,076 shares in the last quarter. Finally, Gabelli Funds LLC boosted its position in Gogo by 31.0% in the second quarter. Gabelli Funds LLC now owns 2,255,500 shares of the company’s stock worth $18,924,000 after buying an additional 534,000 shares in the last quarter. 74.28% of the stock is currently owned by institutional investors and hedge funds.
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).
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