Insider Buying: Gogo Inc. (GOGO) Director Acquires $141,300.00 in Stock
Gogo Inc. (NASDAQ:GOGO) Director Robert H. Mundheim acquired 15,000 shares of Gogo stock in a transaction dated Tuesday, November 8th. The stock was purchased at an average cost of $9.42 per share, with a total value of $141,300.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Gogo Inc. (NASDAQ:GOGO) opened at 9.05 on Tuesday. The company’s 50 day moving average is $10.55 and its 200-day moving average is $10.19. The company’s market cap is $780.47 million. Gogo Inc. has a 12 month low of $7.80 and a 12 month high of $19.61.
Gogo (NASDAQ:GOGO) last released its earnings results on Thursday, November 3rd. The company reported ($0.42) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.03. The company earned $147.30 million during the quarter, compared to analysts’ expectations of $146.77 million. Gogo had a negative net margin of 22.89% and a negative return on equity of 441.18%. Gogo’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same period last year, the business earned ($0.37) EPS. On average, analysts expect that Gogo Inc. will post ($1.56) earnings per share for the current fiscal year.
GOGO has been the subject of a number of analyst reports. William Blair reissued an “outperform” rating on shares of Gogo in a research note on Friday, September 30th. Zacks Investment Research raised shares of Gogo from a “sell” rating to a “hold” rating in a research note on Wednesday, September 14th. Standpoint Research raised shares of Gogo from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research note on Wednesday, August 31st. Morgan Stanley reduced their price objective on shares of Gogo from $11.00 to $8.00 and set an “underweight” rating for the company in a research note on Thursday, July 28th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Gogo from $18.00 to $17.00 and set an “overweight” rating for the company in a research note on Friday, August 5th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $13.60.
Hedge funds have recently added to or reduced their stakes in the company. US Bancorp DE boosted its stake in Gogo by 5.8% in the third quarter. US Bancorp DE now owns 9,810 shares of the company’s stock worth $108,000 after buying an additional 539 shares during the period. Merriman Wealth Management LLC bought a new stake in Gogo during the third quarter worth approximately $110,000. Stevens Capital Management LP bought a new stake in Gogo during the third quarter worth approximately $116,000. Tower Research Capital LLC TRC boosted its stake in Gogo by 2,045.2% in the third quarter. Tower Research Capital LLC TRC now owns 12,871 shares of the company’s stock worth $142,000 after buying an additional 12,271 shares during the period. Finally, Summit Securities Group LLC bought a new stake in Gogo during the second quarter worth approximately $143,000. Institutional investors own 74.67% 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).
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