Stock Traders Buy Large Volume of Call Options on Gogo (GOGO)
Shares of Gogo (NASDAQ:GOGO) were the recipient of some unusual options trading on Thursday. Investors purchased 5,805 call options on the company, AR Network reports. This represents an increase of approximately 211% compared to the average daily volume of 1,865 call options.
In other Gogo news, Director Oakleigh Thorne purchased 8,298 shares of Gogo stock in a transaction dated 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
GOGO has been the subject of a number of recent research reports. 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 analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $23.33.
Shares of Gogo (NASDAQ:GOGO) traded up 5.72% during mid-day trading on Thursday, hitting $17.75. The stock had a trading volume of 3,751,098 shares. Gogo has a 52 week low of $9.79 and a 52 week high of $35.77. The stock’s 50-day moving average is $16.45 and its 200-day moving average is $18.26. The company’s market cap is $1.512 billion.
Gogo (NASDAQ:GOGO) last issued its quarterly earnings data on Monday, August 11th. The company reported ($0.22) EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted ($0.23) earnings per share. The company’s quarterly revenue was up 25.3% on a year-over-year basis. On average, analysts predict that Gogo will post $-0.94 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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