Gogo Inc. (NASDAQ:GOGO) EVP Marguerite M. Elias Sells 30,000 Shares

Gogo Inc. (NASDAQ:GOGO – Get Rating) EVP Marguerite M. Elias sold 30,000 shares of the stock in a transaction dated Tuesday, May 24th. The shares were sold at an average price of $18.79, for a total transaction of $563,700.00. Following the completion of the transaction, the executive vice president now owns 54,791 shares of the company’s stock, valued at approximately $1,029,522.89. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Shares of NASDAQ GOGO traded up $0.83 during trading on Thursday, hitting $19.71. The company had a trading volume of 37,816 shares, compared to its average volume of 1,263,647. The company has a market cap of $2.21 billion, a P/E ratio of 16.11 and a beta of 1.03. Gogo Inc. has a 52 week low of $9.61 and a 52 week high of $23.69. The business’s 50-day moving average is $19.39 and its 200 day moving average is $15.71.

Gogo (NASDAQ:GOGO – Get Rating) last posted its quarterly earnings results on Thursday, May 5th. The technology company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.05. Gogo had a negative return on equity of 13.78% and a net margin of 51.50%. The company had revenue of $92.75 million for the quarter, compared to analysts’ expectations of $89.52 million. During the same quarter in the prior year, the company earned ($0.07) earnings per share. The firm’s revenue was up 25.6% on a year-over-year basis. As a group, equities research analysts expect that Gogo Inc. will post 0.64 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the business. New York State Teachers Retirement System acquired a new stake in Gogo during the 4th quarter valued at $51,000. Allspring Global Investments Holdings LLC acquired a new stake in Gogo during the 4th quarter valued at $610,000. Renaissance Technologies LLC raised its stake in Gogo by 484.9% during the 3rd quarter. Renaissance Technologies LLC now owns 125,368 shares of the technology company’s stock valued at $2,169,000 after purchasing an additional 103,934 shares during the period. Arizona State Retirement System raised its stake in Gogo by 16.0% during the 3rd quarter. Arizona State Retirement System now owns 13,436 shares of the technology company’s stock valued at $232,000 after purchasing an additional 1,849 shares during the period. Finally, Alliancebernstein L.P. raised its stake in Gogo by 38.8% during the 3rd quarter. Alliancebernstein L.P. now owns 70,789 shares of the technology company’s stock valued at $1,225,000 after purchasing an additional 19,789 shares during the period. 71.42% of the stock is currently owned by institutional investors.

A number of equities analysts recently issued reports on the stock. Roth Capital increased their target price on shares of Gogo from $20.50 to $21.00 in a research report on Thursday, March 3rd. StockNews.com assumed coverage on shares of Gogo in a research report on Thursday, March 31st. They set a “hold” rating for the company. Zacks Investment Research downgraded shares of Gogo from a “buy” rating to a “hold” rating in a report on Wednesday, May 11th. TheStreet upgraded shares of Gogo from a “d” rating to a “c” rating in a report on Tuesday, May 17th. Finally, JPMorgan Chase & Co. upped their price target on Gogo from $16.00 to $18.00 and gave the company a “neutral” rating in a report on Monday, March 7th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $19.00.

Gogo Company Profile (Get Rating)

Gogo Inc, through its subsidiaries, provides broadband connectivity services to the aviation industry in the United States and internationally. It operates through Commercial Aviation North America (CA-NA), Commercial Aviation Rest of World (CA-ROW), and Business Aviation (BA) segments. The company design, build and operate air-to-ground networks, engineer and maintain in-flight systems of proprietary hardware and software, and deliver customizable connectivity and wireless entertainment services.

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