Gogo (NASDAQ:GOGO) Reaches New 52-Week High – Should You Buy?

Gogo Inc. (NASDAQ:GOGO) hit a new 52-week high during trading on Friday . The stock traded as high as $13.16 and last traded at $12.81, with a volume of 4406096 shares. The stock had previously closed at $12.12.

Analyst Upgrades and Downgrades

GOGO has been the topic of several recent analyst reports. Wall Street Zen raised Gogo from a “hold” rating to a “buy” rating in a report on Thursday. Roth Mkm lowered their price objective on Gogo from $15.50 to $13.00 and set a “buy” rating for the company in a research report on Monday, March 17th.

Gogo Stock Performance

The stock has a market capitalization of $1.43 billion, a P/E ratio of 25.21 and a beta of 0.93. 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 business has a fifty day moving average price of $8.57 and a 200-day moving average price of $8.07.

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

Insider Buying and Selling at Gogo

In other Gogo news, Director Oakleigh Thorne bought 30,173 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was purchased at an average price of $6.57 per share, for a total transaction of $198,236.61. Following the completion of the transaction, the director now owns 711,341 shares of the company’s stock, valued at $4,673,510.37. This trade represents a 4.43% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 25.78% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Gogo

Institutional investors have recently added to or reduced their stakes in the company. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Gogo by 23.6% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 294,173 shares of the technology company’s stock worth $2,536,000 after purchasing an additional 56,232 shares during the period. Tenzing Global Management LLC raised its position in shares of Gogo by 31.3% in the 1st quarter. Tenzing Global Management LLC now owns 2,725,000 shares of the technology company’s stock worth $23,490,000 after acquiring an additional 650,000 shares in the last quarter. Select Equity Group L.P. grew its stake in Gogo by 68.8% during the 1st quarter. Select Equity Group L.P. now owns 402,987 shares of the technology company’s stock worth $3,474,000 after buying an additional 164,257 shares during the last quarter. Millennium Management LLC grew its stake in Gogo by 439.5% during the 1st quarter. Millennium Management LLC now owns 709,003 shares of the technology company’s stock worth $6,112,000 after buying an additional 577,575 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Gogo by 6.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,205 shares of the technology company’s stock valued at $338,000 after purchasing an additional 2,342 shares during the last quarter. Hedge funds and other institutional investors own 69.60% of the company’s stock.

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.