A number of other analysts have also recently weighed in on the company. Standpoint Research started coverage on Gogo in a research report on Thursday, June 23rd. They set a buy rating and a $14.00 price target on the stock. Zacks Investment Research upgraded Gogo from a sell rating to a hold rating in a research report on Tuesday, August 23rd. Dougherty & Co lowered their target price on Gogo from $17.00 to $14.00 and set a buy rating on the stock in a research report on Wednesday, June 15th. Morgan Stanley lowered their target price on Gogo from $11.00 to $8.00 and set an underweight rating on the stock in a research report on Thursday, July 28th. Finally, JPMorgan Chase & Co. lowered their target price on Gogo from $18.00 to $17.00 and set an overweight rating on the stock in a research report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $13.60.
Gogo (NASDAQ:GOGO) opened at 11.27 on Friday. The firm’s market capitalization is $971.20 million. Gogo has a 12-month low of $7.80 and a 12-month high of $19.61. The stock has a 50 day moving average price of $11.94 and a 200-day moving average price of $10.35.
Gogo (NASDAQ:GOGO) last announced its quarterly earnings results on Thursday, August 4th. The company reported ($0.51) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by $0.11. The company had revenue of $147.50 million for the quarter, compared to analyst estimates of $141.46 million. Gogo had a negative return on equity of 204.51% and a negative net margin of 22.95%. The firm’s revenue for the quarter was up 21.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.32) earnings per share. On average, equities research analysts forecast that Gogo will post ($1.55) EPS for the current year.
In other Gogo news, Director Charles C. Townsend bought 52,867 shares of the stock in a transaction that occurred on Tuesday, August 30th. The shares were purchased at an average cost of $11.84 per share, for a total transaction of $625,945.28. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Michael Small bought 50,000 shares of the stock in a transaction that occurred on Monday, August 8th. The stock was acquired at an average price of $10.37 per share, for a total transaction of $518,500.00. Following the completion of the transaction, the insider now owns 244,832 shares in the company, valued at $2,538,907.84. The disclosure for this purchase can be found here. 37.70% of the stock is owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of the stock. Spark Investment Management LLC acquired a new stake in Gogo during the first quarter valued at approximately $764,000. Lazard Asset Management LLC purchased a new position in shares of Gogo during the first quarter worth about $155,000. Quadrature Capital Ltd purchased a new position in shares of Gogo during the first quarter worth about $273,000. Geode Capital Management LLC raised its position in shares of Gogo by 2.5% in the first quarter. Geode Capital Management LLC now owns 383,346 shares of the company’s stock worth $4,220,000 after buying an additional 9,344 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Gogo by 22.0% in the first quarter. Wellington Management Group LLP now owns 2,525,921 shares of the company’s stock worth $27,811,000 after buying an additional 455,535 shares during the last quarter. Hedge funds and other institutional investors own 74.33% of the company’s stock.
Gogo Inc is a holding company. The Company is a provider of in-flight connectivity and wireless entertainment solutions for the aviation industry across the world. The Company 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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