Investors Buy Large Volume of Gogo Call Options (NASDAQ:GOGO)

Gogo Inc. (NASDAQ:GOGO) was the target of some unusual options trading activity on Thursday. Stock traders acquired 20,208 call options on the company. This represents an increase of 1,120% compared to the average daily volume of 1,657 call options.

Gogo Stock Performance

Shares of NASDAQ:GOGO traded down $0.40 during trading on Thursday, hitting $7.62. 373,618 shares of the company were exchanged, compared to its average volume of 977,869. The company has a market cap of $957.81 million, a PE ratio of 17.67 and a beta of 1.13. Gogo has a 52-week low of $6.17 and a 52-week high of $11.00. The company has a debt-to-equity ratio of 11.07, a current ratio of 3.58 and a quick ratio of 2.81. The stock has a 50 day moving average of $7.97 and a 200 day moving average of $7.62.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC lifted its holdings in shares of Gogo by 149.8% in the third quarter. SG Americas Securities LLC now owns 28,177 shares of the technology company’s stock worth $202,000 after buying an additional 16,898 shares in the last quarter. nVerses Capital LLC purchased a new stake in Gogo in the 3rd quarter worth approximately $34,000. Brighton Jones LLC bought a new position in Gogo in the 3rd quarter valued at $72,000. Van ECK Associates Corp boosted its holdings in Gogo by 44.0% in the 3rd quarter. Van ECK Associates Corp now owns 43,439 shares of the technology company’s stock valued at $311,000 after purchasing an additional 13,283 shares during the period. Finally, Olympiad Research LP purchased a new position in shares of Gogo during the 3rd quarter valued at $318,000. Institutional investors own 69.60% of the company’s stock.

About Gogo

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.