Insider Buying: Gogo (NASDAQ:GOGO) Insider Acquires $907,800.00 in Stock

Gogo Inc. (NASDAQ:GOGO) insider Oakleigh Thorne purchased 170,000 shares of the business’s stock in a transaction that occurred on Friday, December 12th. The stock was acquired at an average price of $5.34 per share, with a total value of $907,800.00. Following the purchase, the insider owned 954,098 shares in the company, valued at $5,094,883.32. This represents a 21.68% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Gogo Stock Performance

Shares of GOGO stock opened at $4.65 on Friday. The company has a current ratio of 1.74, a quick ratio of 1.40 and a debt-to-equity ratio of 7.79. Gogo Inc. has a 12-month low of $4.57 and a 12-month high of $16.82. The business’s 50 day moving average is $7.55 and its two-hundred day moving average is $10.74. The company has a market capitalization of $622.40 million, a P/E ratio of -93.00 and a beta of 0.89.

Gogo (NASDAQ:GOGO) last announced its earnings results on Thursday, November 6th. The technology company reported ($0.01) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.12). Gogo had a positive return on equity of 71.74% and a negative net margin of 0.65%.The business had revenue of $223.59 million for the quarter, compared to analyst estimates of $222.23 million. During the same period in the previous year, the company earned $0.08 earnings per share. The company’s quarterly revenue was up 122.4% compared to the same quarter last year. Analysts expect that Gogo Inc. will post 0.41 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. William Blair downgraded shares of Gogo from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 9th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Gogo in a research note on Monday. Two investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Gogo has a consensus rating of “Hold” and an average price target of $14.83.

Institutional Investors Weigh In On Gogo

A number of large investors have recently modified their holdings of GOGO. William Blair Investment Management LLC boosted its position in Gogo by 124.8% during the second quarter. William Blair Investment Management LLC now owns 5,673,833 shares of the technology company’s stock worth $83,292,000 after acquiring an additional 3,149,585 shares during the last quarter. Two Sigma Investments LP boosted its stake in Gogo by 512.6% during the third quarter. Two Sigma Investments LP now owns 1,218,005 shares of the technology company’s stock worth $10,463,000 after buying an additional 1,019,195 shares during the last quarter. Nantahala Capital Management LLC grew its holdings in Gogo by 38.5% in the 1st quarter. Nantahala Capital Management LLC now owns 3,564,797 shares of the technology company’s stock valued at $30,729,000 after buying an additional 990,155 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of Gogo in the 3rd quarter worth $6,760,000. Finally, LB Partners LLC raised its holdings in shares of Gogo by 30.0% during the 3rd quarter. LB Partners LLC now owns 3,228,979 shares of the technology company’s stock worth $27,737,000 after acquiring an additional 745,000 shares during the period. 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.