Gogo Target of Unusually Large Options Trading (NASDAQ:GOGO)

Gogo Inc. (NASDAQ:GOGO) saw unusually large options trading on Wednesday. Traders purchased 17,012 call options on the stock. This is an increase of approximately 1,049% compared to the average daily volume of 1,480 call options.

Institutional Trading of Gogo

Institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC grew its holdings in shares of Gogo by 13.5% in the third quarter. FMR LLC now owns 5,653,036 shares of the technology company’s stock valued at $40,589,000 after purchasing an additional 673,315 shares in the last quarter. Weiss Asset Management LP purchased a new position in Gogo in the 3rd quarter valued at approximately $3,031,000. Select Equity Group L.P. acquired a new position in shares of Gogo in the second quarter worth $2,764,000. LB Partners LLC increased its position in shares of Gogo by 12.4% during the third 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 period. Finally, Dynamic Technology Lab Private Ltd raised its stake in shares of Gogo by 612.1% in the third quarter. Dynamic Technology Lab Private Ltd now owns 253,114 shares of the technology company’s stock valued at $1,817,000 after acquiring an additional 217,570 shares in the last quarter. 69.60% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on GOGO. Roth Mkm reaffirmed a “buy” rating and issued a $15.50 price target on shares of Gogo in a research note on Tuesday, September 17th. Morgan Stanley lowered their target price on shares of 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 Trading Down 1.1 %

GOGO opened at $7.92 on Thursday. The company has a quick ratio of 2.81, a current ratio of 3.58 and a debt-to-equity ratio of 11.07. The firm has a market cap of $996.17 million, a P/E ratio of 18.42 and a beta of 1.18. Gogo has a 52 week low of $6.17 and a 52 week high of $11.17. The business has a fifty day simple moving average of $7.55 and a 200-day simple moving average of $8.09.

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.