Shares of Gogo Inc. (NASDAQ:GOGO) have been assigned a consensus rating of “Hold” from the seven brokerages that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $7.40.
A number of equities research analysts have recently commented on the stock. Zacks Investment Research raised shares of Gogo from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a report on Monday, November 16th. ValuEngine cut shares of Gogo from a “buy” rating to a “hold” rating in a report on Tuesday, December 1st. Finally, BidaskClub cut shares of Gogo from a “buy” rating to a “hold” rating in a report on Saturday, December 12th.
In other news, insider John Wade sold 9,982 shares of the business’s stock in a transaction dated Friday, November 13th. The shares were sold at an average price of $10.41, for a total transaction of $103,912.62. Following the transaction, the insider now directly owns 48,552 shares in the company, valued at $505,426.32. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert L. Crandall purchased 20,000 shares of the company’s stock in a transaction dated Wednesday, December 2nd. The shares were purchased at an average price of $10.32 per share, for a total transaction of $206,400.00. Following the completion of the purchase, the director now owns 8,934 shares of the company’s stock, valued at $92,198.88. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 834,432 shares of company stock worth $8,460,826. Company insiders own 40.00% of the company’s stock.
Several institutional investors have recently modified their holdings of GOGO. Morgan Stanley increased its stake in shares of Gogo by 64.4% during the first quarter. Morgan Stanley now owns 3,635,822 shares of the technology company’s stock worth $7,707,000 after acquiring an additional 1,423,670 shares during the period. Tenzing Global Management LLC grew its position in Gogo by 46.0% during the third quarter. Tenzing Global Management LLC now owns 3,650,000 shares of the technology company’s stock worth $33,726,000 after buying an additional 1,150,000 shares during the period. Voloridge Investment Management LLC acquired a new position in Gogo during the third quarter worth about $6,553,000. Jacobs Levy Equity Management Inc. grew its position in Gogo by 27.7% during the second quarter. Jacobs Levy Equity Management Inc. now owns 1,755,582 shares of the technology company’s stock worth $5,548,000 after buying an additional 380,334 shares during the period. Finally, Penn Capital Management Co. Inc. acquired a new position in Gogo during the third quarter worth about $3,125,000. Institutional investors and hedge funds own 42.04% of the company’s stock.
Shares of GOGO opened at $10.28 on Tuesday. Gogo has a 1-year low of $1.33 and a 1-year high of $12.88. The stock has a market cap of $876.37 million, a PE ratio of -3.08 and a beta of 1.51. The firm has a fifty day moving average price of $10.11 and a 200 day moving average price of $7.54.
Gogo (NASDAQ:GOGO) last announced its quarterly earnings results on Monday, November 9th. The technology company reported ($0.97) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.77) by ($0.20). The company had revenue of $66.50 million for the quarter, compared to analysts’ expectations of $111.43 million. During the same period in the previous year, the business posted ($0.28) earnings per share. Gogo’s revenue was down 18.2% compared to the same quarter last year. On average, analysts anticipate that Gogo will post -1.7 earnings per share for the current fiscal year.
Gogo Inc, through its subsidiaries, provides inflight broadband connectivity and wireless entertainment services to the aviation industry in the United States and internationally. It operates through three segments: Commercial Aviation North America (CA-NA), Commercial Aviation Rest of World (CA-ROW), and Business Aviation (BA).
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