Michael Small Acquires 50,000 Shares of Gogo Inc. (GOGO) Stock
Gogo Inc. (NASDAQ:GOGO) insider Michael Small purchased 50,000 shares of the business’s stock in a transaction on Friday, November 11th. The shares were acquired at an average price of $8.94 per share, with a total value of $447,000.00. Following the completion of the transaction, the insider now owns 294,832 shares of the company’s stock, valued at $2,635,798.08. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Gogo Inc. (NASDAQ:GOGO) opened at 9.04 on Thursday. The company’s market capitalization is $779.61 million. The company has a 50-day moving average of $10.37 and a 200-day moving average of $10.17. Gogo Inc. has a 1-year low of $7.80 and a 1-year high of $19.61.
Gogo (NASDAQ:GOGO) last announced its quarterly earnings results on Thursday, November 3rd. The company reported ($0.42) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.03. The company had revenue of $147.30 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.37) EPS. Equities analysts expect that Gogo Inc. will post ($1.56) EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in the stock. US Bancorp DE increased its stake in shares of 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 in the last quarter. Merriman Wealth Management LLC acquired a new position in shares of Gogo during the third quarter worth approximately $110,000. Stevens Capital Management LP acquired a new position in shares of Gogo during the third quarter worth approximately $116,000. Tower Research Capital LLC TRC boosted its position in shares of 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 last quarter. Finally, Summit Securities Group LLC acquired a new position in shares of Gogo during the second quarter worth approximately $143,000. Institutional investors own 74.67% of the company’s stock.
Several analysts have issued reports on GOGO shares. William Blair restated an “outperform” rating on shares of Gogo in a research report 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 lowered 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. lowered 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 analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. Gogo currently has an average rating of “Hold” and an average target price of $13.60.
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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