According to Zacks, “Gogo Inc. offers in-flight connectivity and wireless digital entertainment solutions in-flights. It operates through Commercial Aviation and Business Aviation segments. The Company provides equipment for in-flight connectivity with voice and data services, wireless digital entertainment solutions. Gogo Inc. is headquartered in Itasca, Illinois. “
Several other equities analysts have also commented on GOGO. William Blair restated a buy rating on shares of Gogo in a report on Monday, June 6th. Standpoint Research lowered shares of Gogo from a buy rating to a hold rating in a report on Thursday, August 18th. JPMorgan Chase & Co. decreased their price objective on shares of Gogo from $18.00 to $17.00 and set an overweight rating on the stock in a report on Friday, August 5th. Morgan Stanley decreased their price objective on shares of Gogo from $11.00 to $8.00 and set an underweight rating on the stock in a report on Thursday, July 28th. Finally, Dougherty & Co decreased their price objective on shares of Gogo from $17.00 to $14.00 and set a buy rating on the stock in a report on Wednesday, June 15th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $13.60.
Shares of Gogo (NASDAQ:GOGO) opened at 12.89 on Wednesday. The firm has a 50-day moving average price of $11.97 and a 200-day moving average price of $10.35. The stock’s market cap is $1.11 billion. Gogo has a 52 week low of $7.80 and a 52 week high of $19.61.
Gogo (NASDAQ:GOGO) last issued its quarterly earnings data on Thursday, August 4th. The company reported ($0.51) EPS for the quarter, missing the consensus estimate of ($0.40) by $0.11. Gogo had a negative return on equity of 204.51% and a negative net margin of 22.95%. The company earned $147.50 million during the quarter, compared to analyst estimates of $141.46 million. During the same quarter in the prior year, the company posted ($0.32) earnings per share. The business’s revenue was up 21.7% compared to the same quarter last year. On average, equities analysts anticipate that Gogo will post ($1.55) earnings per share for the current year.
In other Gogo news, Director Oakleigh Thorne bought 31,971 shares of Gogo stock in a transaction on Friday, August 12th. The shares were bought at an average cost of $11.24 per share, for a total transaction of $359,354.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Charles C. Townsend bought 52,867 shares of Gogo stock in a transaction on Tuesday, August 30th. The shares were acquired at an average price of $11.84 per share, for a total transaction of $625,945.28. The disclosure for this purchase can be found here. Company insiders own 37.70% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Emerald Acquisition Ltd. purchased a new stake in shares of Gogo during the second quarter worth approximately $921,000. Swiss National Bank increased its stake in shares of Gogo by 8.7% in the second quarter. Swiss National Bank now owns 97,200 shares of the company’s stock worth $816,000 after buying an additional 7,800 shares in the last quarter. Quantbot Technologies LP increased its stake in shares of Gogo by 29.3% in the second quarter. Quantbot Technologies LP now owns 27,845 shares of the company’s stock worth $233,000 after buying an additional 6,307 shares in the last quarter. Logan Capital Management Inc. increased its stake in shares of Gogo by 13.3% in the first quarter. Logan Capital Management Inc. now owns 23,887 shares of the company’s stock worth $263,000 after buying an additional 2,800 shares in the last quarter. Finally, A.R.T. Advisors LLC purchased a new stake in shares of Gogo during the first quarter worth approximately $2,295,000. Institutional investors own 74.33% of the company’s stock.
Gogo Company Profile
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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