Insider Buying: Gogo Inc. (NASDAQ:GOGO) Director Buys 30,173 Shares of Stock

Gogo Inc. (NASDAQ:GOGO) Director Oakleigh Thorne acquired 30,173 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were bought at an average price of $6.57 per share, with a total value of $198,236.61. Following the acquisition, the director now directly owns 711,341 shares in the company, valued at $4,673,510.37. This represents a 4.43 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Gogo Stock Performance

NASDAQ:GOGO traded up $0.47 during trading hours on Tuesday, hitting $6.94. 1,895,507 shares of the company were exchanged, compared to its average volume of 1,069,342. The stock has a market capitalization of $872.28 million, a price-to-earnings ratio of 16.13 and a beta of 1.01. Gogo Inc. 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 company’s 50 day moving average price is $7.75 and its 200-day moving average price is $7.56.

Gogo (NASDAQ:GOGO) last released its earnings results on Friday, March 14th. The technology company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.03. The company had revenue of $137.80 million for the quarter, compared to the consensus estimate of $97.80 million. Gogo had a net margin of 13.94% and a return on equity of 121.96%. Gogo’s revenue was up 40.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.11 EPS. As a group, research analysts forecast that Gogo Inc. will post 0.41 earnings per share for the current year.

Institutional Trading of Gogo

Several institutional investors and hedge funds have recently bought and sold shares of GOGO. Lazard Asset Management LLC acquired a new stake in Gogo during the 4th quarter valued at approximately $43,000. State of Wyoming acquired a new position in shares of Gogo in the 4th quarter valued at $57,000. Teza Capital Management LLC acquired a new position in shares of Gogo in the 4th quarter valued at $110,000. Hsbc Holdings PLC acquired a new position in shares of Gogo in the 4th quarter valued at $116,000. Finally, Diametric Capital LP acquired a new position in shares of Gogo in the 4th quarter valued at $121,000. 69.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GOGO has been the subject of several recent research reports. Roth Mkm reduced their price target on shares of Gogo from $15.50 to $13.00 and set a “buy” rating for the company in a report on Monday. StockNews.com downgraded shares of Gogo from a “hold” rating to a “sell” rating in a research report on Monday.

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.