Gogo Sees Unusually Large Options Volume (NASDAQ:GOGO)

Gogo Inc. (NASDAQ:GOGO) was the recipient of unusually large options trading activity on Tuesday. Stock traders bought 9,871 call options on the company. This is an increase of approximately 688% compared to the typical volume of 1,253 call options.

Institutional Investors Weigh In On Gogo

Several large investors have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Gogo by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 5,748,287 shares of the technology company’s stock valued at $50,470,000 after acquiring an additional 44,340 shares in the last quarter. Burgundy Asset Management Ltd. boosted its position in shares of Gogo by 1.4% during the second quarter. Burgundy Asset Management Ltd. now owns 3,108,226 shares of the technology company’s stock worth $29,901,000 after buying an additional 43,805 shares during the period. Capco Asset Management LLC raised its position in Gogo by 1.7% in the 2nd quarter. Capco Asset Management LLC now owns 2,479,974 shares of the technology company’s stock valued at $23,857,000 after buying an additional 41,866 shares during the last quarter. William Blair Investment Management LLC lifted its stake in Gogo by 7.9% in the 2nd quarter. William Blair Investment Management LLC now owns 2,073,693 shares of the technology company’s stock valued at $19,949,000 after acquiring an additional 152,338 shares in the last quarter. Finally, LB Partners LLC boosted its position in Gogo by 12.4% during the 3rd quarter. LB Partners LLC now owns 2,045,000 shares of the technology company’s stock worth $14,683,000 after acquiring an additional 225,000 shares during the last quarter. Institutional investors own 69.60% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Roth Mkm reissued a “buy” rating and issued a $15.50 price target on shares of Gogo in a research note on Tuesday, September 17th. JPMorgan Chase & Co. reduced their target price on Gogo from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th. Finally, Morgan Stanley lowered their price target on Gogo from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 3rd.

Gogo Price Performance

GOGO opened at $8.53 on Wednesday. The stock has a market cap of $1.08 billion, a P/E ratio of 16.73 and a beta of 1.10. Gogo has a 12 month low of $6.17 and a 12 month high of $11.17. The company has a quick ratio of 3.16, a current ratio of 3.95 and a debt-to-equity ratio of 11.25. The company has a fifty day simple moving average of $7.11 and a 200 day simple moving average of $8.51.

Gogo (NASDAQ:GOGO) last released its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). The business had revenue of $102.10 million for the quarter, compared to the consensus estimate of $99.02 million. Gogo had a net margin of 16.59% and a return on equity of 145.01%. The company’s revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.20 EPS. On average, research analysts expect that Gogo will post 0.35 EPS for the current year.

Gogo Company Profile

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.