Gogo (NASDAQ:GOGO) Director Charles Townsend Buys 158,591 Shares of Stock

Gogo Inc. (NASDAQ:GOGO) Director Charles Townsend purchased 158,591 shares of the stock in a transaction dated Thursday, March 12th. The shares were bought at an average cost of $4.57 per share, for a total transaction of $724,760.87. Following the completion of the purchase, the director owned 418,686 shares in the company, valued at approximately $1,913,395.02. This trade represents a 60.97% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Gogo Stock Performance

Shares of GOGO opened at $4.31 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.60 and a debt-to-equity ratio of 8.24. Gogo Inc. has a 52-week low of $3.85 and a 52-week high of $16.82. The company has a 50-day simple moving average of $4.60 and a 200-day simple moving average of $6.79. The company has a market capitalization of $580.47 million, a PE ratio of 43.10 and a beta of 1.07.

Gogo (NASDAQ:GOGO) last released its quarterly earnings data on Friday, February 27th. The technology company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.09). Gogo had a return on equity of 55.95% and a net margin of 1.42%.The company had revenue of $230.56 million for the quarter, compared to analysts’ expectations of $222.65 million. During the same period in the prior year, the firm posted ($0.22) EPS. The firm’s quarterly revenue was up 67.3% on a year-over-year basis. Equities research analysts predict that Gogo Inc. will post 0.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GOGO. William Blair lowered Gogo from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 9th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Gogo in a report on Monday, December 29th. Finally, Morgan Stanley set a $8.00 target price on Gogo in a research report on Friday, January 16th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $12.25.

Institutional Trading of Gogo

Several institutional investors and hedge funds have recently modified their holdings of GOGO. Nantahala Capital Management LLC purchased a new position in shares of Gogo during the 4th quarter worth approximately $31,654,000. Vanguard Group Inc. lifted its stake in Gogo by 6.3% in the 3rd quarter. Vanguard Group Inc. now owns 6,651,058 shares of the technology company’s stock valued at $57,133,000 after buying an additional 396,236 shares in the last quarter. William Blair Investment Management LLC lifted its stake in Gogo by 6.9% in the 3rd quarter. William Blair Investment Management LLC now owns 6,067,663 shares of the technology company’s stock valued at $52,121,000 after buying an additional 393,830 shares in the last quarter. LB Partners LLC grew its holdings in Gogo by 30.0% during the 3rd quarter. LB Partners LLC now owns 3,228,979 shares of the technology company’s stock valued at $27,737,000 after buying an additional 745,000 shares during the last quarter. Finally, State Street Corp grew its holdings in Gogo by 7.0% during the 4th quarter. State Street Corp now owns 3,136,833 shares of the technology company’s stock valued at $14,618,000 after buying an additional 204,296 shares during the last quarter. Hedge funds and other institutional investors own 69.60% of the company’s stock.

About Gogo

Gogo Inc is a leading provider of in-flight connectivity and entertainment solutions for commercial and business aviation. The company specializes in delivering broadband internet, voice and text services, and streaming entertainment to passengers at 35,000 feet. Gogo’s offerings include both air-to-ground (ATG) networks and satellite-based connectivity, enabling reliable in-flight internet access across a range of aircraft types.

Gogo’s ATG network spans the United States and portions of Canada, using ground towers to transmit data signals directly to equipped aircraft.