StockNews.com Upgrades Gogo (NASDAQ:GOGO) to Hold

Gogo (NASDAQ:GOGO) was upgraded by analysts at StockNews.com from a “sell” rating to a “hold” rating in a report released on Monday.

Separately, Roth Mkm cut their price objective on Gogo from $15.50 to $13.00 and set a “buy” rating for the company in a report on Monday, March 17th.

Gogo Trading Down 4.0%

Shares of GOGO stock opened at $11.86 on Monday. The company has a debt-to-equity ratio of 11.07, a quick ratio of 2.81 and a current ratio of 3.58. Gogo has a 1 year low of $6.17 and a 1 year high of $12.90. The stock has a fifty day moving average of $7.63 and a two-hundred day moving average of $7.76. The firm has a market capitalization of $1.57 billion, a PE ratio of 27.58 and a beta of 0.93.

Gogo (NASDAQ:GOGO) last announced its quarterly earnings data on Friday, May 9th. The technology company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.13. The business had revenue of $230.31 million during the quarter, compared to analyst estimates of $214.93 million. Gogo had a return on equity of 121.96% and a net margin of 13.94%. The company’s revenue was up 120.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.23 earnings per share. As a group, research analysts expect that Gogo will post 0.41 EPS for the current year.

Insider Transactions at Gogo

In other news, Director Oakleigh Thorne acquired 30,173 shares of Gogo stock in a transaction that occurred on Monday, March 17th. The stock was purchased at an average price of $6.57 per share, with a total value of $198,236.61. Following the completion of the transaction, the director now owns 711,341 shares in the company, valued at approximately $4,673,510.37. This trade represents a 4.43% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 26.00% of the stock is currently owned by insiders.

Institutional Trading of Gogo

A number of institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in Gogo by 532.9% during the first quarter. GAMMA Investing LLC now owns 3,595 shares of the technology company’s stock valued at $31,000 after buying an additional 3,027 shares in the last quarter. Lazard Asset Management LLC bought a new position in Gogo during the fourth quarter valued at about $43,000. State of Wyoming bought a new position in Gogo during the fourth quarter valued at about $57,000. Teza Capital Management LLC bought a new position in Gogo during the fourth quarter valued at about $110,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Gogo during the first quarter valued at about $111,000. Institutional investors and hedge funds own 69.60% of the company’s stock.

About Gogo

Gogo Inc, together with its subsidiaries, provides broadband connectivity services to the aviation industry in the United States and internationally. The company's product platform includes networks, antennas, and airborne equipment and software. It offers in-flight systems; in-flight services; aviation partner support; and engineering, design, and development services, as well as production operations functions.