Gogo Shares Up 4.3% Following Insider Buying Activity (GOGO)
Gogo (NASDAQ:GOGO) shot up 4.3% during trading on Friday after an insider bought additional shares in the company, Analyst Ratings Network.com reports. The stock traded as high as $15.81 and last traded at $15.44, with a volume of 1,313,827 shares trading hands. The stock had previously closed at $14.80.
Specifically, Director Oakleigh Thorne bought 8,298 shares of Gogo stock in a transaction that occurred on Thursday, August 14th. The stock was purchased at an average cost of $14.56 per share, with a total value of $120,818.88. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
A number of analysts have recently weighed in on GOGO shares. Analysts at Macquarie initiated coverage on shares of Gogo in a research note on Tuesday, June 17th. They set a “neutral” rating and a $21.00 price target on the stock. Analysts at Wells Fargo & Co. initiated coverage on shares of Gogo in a research note on Friday, June 13th. They set a “market perform” rating on the stock. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $23.33.
The stock’s 50-day moving average is $16.76 and its 200-day moving average is $18.4. The company’s market cap is $1.347 billion.
Gogo (NASDAQ:GOGO) last announced its earnings results on Monday, August 11th. The company reported ($0.22) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.23) by $0.01. The company had revenue of $99.50 million for the quarter, compared to the consensus estimate of $99.40 million. During the same quarter last year, the company posted ($0.23) earnings per share. Gogo’s revenue was up 25.3% compared to the same quarter last year. On average, analysts predict that Gogo will post $-0.93 earnings per share for the current fiscal year.
Gogo Inc is a holding company. The Company operates through its two operating subsidiaries, Gogo LLC and Aircell Business Aviation Services LLC.
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