Gogo Inc. (GOGO) Given Consensus Recommendation of “Hold” by Brokerages
Shares of Gogo Inc. (NASDAQ:GOGO) have earned an average rating of “Hold” from the seven analysts that are presently covering the firm. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $13.60.
GOGO has been the topic of several analyst reports. William Blair reiterated an “outperform” rating on shares of Gogo in a report on Friday, September 30th. Standpoint Research initiated coverage on shares of Gogo in a report on Thursday, June 23rd. They set a “buy” rating and a $14.00 price target on the stock. Zacks Investment Research upgraded shares of Gogo from a “sell” rating to a “hold” rating in a report on Wednesday, September 14th. Morgan Stanley cut their price target on shares of Gogo from $11.00 to $8.00 and set an “underweight” rating on the stock in a report 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 report on Friday, August 5th.
Gogo (NASDAQ:GOGO) traded up 0.19% during mid-day trading on Monday, hitting $10.77. 132,501 shares of the stock were exchanged. The company’s 50-day moving average price is $11.77 and its 200 day moving average price is $10.35. The firm’s market capitalization is $928.12 million. Gogo has a 52 week low of $7.80 and a 52 week high of $19.61.
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Gogo (NASDAQ:GOGO) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.40) by $0.11. The firm had revenue of $147.50 million for the quarter, compared to the consensus estimate of $141.46 million. Gogo had a negative net margin of 22.95% and a negative return on equity of 204.51%. The business’s revenue for the quarter was up 21.7% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.32) earnings per share. Equities research analysts expect that Gogo will post ($1.55) EPS for the current year.
In other Gogo news, Director Charles C. Townsend purchased 200,000 shares of the stock in a transaction dated Monday, August 8th. The shares were bought at an average cost of $10.73 per share, with a total value of $2,146,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles C. Townsend purchased 52,867 shares of the stock in a transaction dated Tuesday, August 30th. The shares were acquired at an average cost of $11.84 per share, for a total transaction of $625,945.28. The disclosure for this purchase can be found here. Insiders own 37.70% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GOGO. Lazard Asset Management LLC purchased a new position in Gogo during the first quarter worth about $155,000. Gabelli Funds LLC raised its position in 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. Quadrature Capital Ltd purchased a new position in Gogo during the first quarter worth about $273,000. A.R.T. Advisors LLC purchased a new position in Gogo during the first quarter worth about $2,295,000. Finally, Quantbot Technologies LP raised its position in 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. 74.28% of the stock is currently owned by hedge funds and other institutional investors.
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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