Gogo Inc. (GOGO) Given Consensus Rating of “Hold” by Analysts
Gogo Inc. (NASDAQ:GOGO) has earned an average rating of “Hold” from the seven ratings firms that are presently covering the stock. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokers that have covered the stock in the last year is $13.60.
Several equities analysts have commented on the company. William Blair reiterated an “outperform” rating on shares of Gogo in a research report on Friday, September 30th. Zacks Investment Research upgraded Gogo from a “sell” rating to a “hold” rating in a research report on Wednesday, September 28th. Standpoint Research upgraded Gogo from a “hold” rating to a “buy” rating and set a $16.00 price objective for the company in a research report on Wednesday, August 31st. JPMorgan Chase & Co. lowered their price objective on Gogo from $18.00 to $17.00 and set an “overweight” rating for the company in a research report on Friday, August 5th. Finally, Morgan Stanley lowered their price objective on Gogo from $11.00 to $8.00 and set an “underweight” rating for the company in a research report on Thursday, July 28th.
In other Gogo news, Director Charles C. Townsend bought 52,867 shares of the stock in a transaction on Tuesday, August 30th. The stock was acquired at an average cost of $11.84 per share, for a total transaction of $625,945.28. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Michael Small bought 50,000 shares of the stock in a transaction on Friday, November 11th. The stock was acquired at an average price of $8.94 per share, with a total value of $447,000.00. Following the completion of the acquisition, the insider now owns 294,832 shares of the company’s stock, valued at approximately $2,635,798.08. The disclosure for this purchase can be found here. 37.70% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the company. Gabelli Funds LLC increased its stake in shares of 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 during the last quarter. A.R.T. Advisors LLC acquired a new stake in shares of Gogo during the first quarter worth $2,295,000. Quantbot Technologies LP increased 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. Lombard Odier Asset Management USA Corp acquired a new stake in shares of Gogo during the second quarter worth $2,815,000. Finally, Harbour Capital Advisors LLC purchased a new stake in shares of Gogo during the second quarter worth approximately $2,888,000. Institutional investors and hedge funds own 73.32% of the company’s stock.
Gogo (NASDAQ:GOGO) traded up 1.56% during trading on Monday, reaching $9.12. The company’s stock had a trading volume of 640,569 shares. The company’s 50-day moving average is $10.19 and its 200-day moving average is $10.15. The stock’s market cap is $786.51 million. Gogo has a 12 month low of $7.80 and a 12 month high of $19.61.
Gogo (NASDAQ:GOGO) last posted its earnings results on Thursday, November 3rd. The company reported ($0.42) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.03. The firm earned $147.30 million during the quarter, compared to the consensus estimate of $146.77 million. Gogo had a negative return on equity of 441.18% and a negative net margin of 22.89%. The business’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period last year, the company earned ($0.37) earnings per share. Equities analysts expect that Gogo will post ($1.56) EPS for the current fiscal year.
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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