Gogo (NASDAQ:GOGO) Director Charles Townsend Buys 91,409 Shares

Gogo Inc. (NASDAQ:GOGO) Director Charles Townsend bought 91,409 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was purchased at an average price of $4.54 per share, for a total transaction of $414,996.86. Following the purchase, the director directly owned 260,095 shares in the company, valued at approximately $1,180,831.30. This represents a 54.19% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Gogo Stock Performance

GOGO stock traded down $0.18 during trading hours on Friday, reaching $4.31. The stock had a trading volume of 2,698,275 shares, compared to its average volume of 2,073,282. The stock has a market capitalization of $580.47 million, a PE ratio of 43.10 and a beta of 1.07. The stock has a 50-day simple moving average of $4.60 and a 200 day simple moving average of $6.79. Gogo Inc. has a fifty-two week low of $3.85 and a fifty-two week high of $16.82. The company has a debt-to-equity ratio of 8.24, a current ratio of 1.60 and a quick ratio of 1.24.

Gogo (NASDAQ:GOGO) last announced its quarterly earnings results on Friday, February 27th. The technology company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.09). The company had revenue of $230.56 million during the quarter, compared to analyst estimates of $222.65 million. Gogo had a net margin of 1.42% and a return on equity of 55.95%. The firm’s quarterly revenue was up 67.3% on a year-over-year basis. During the same quarter last year, the company posted ($0.22) EPS. Analysts predict that Gogo Inc. will post 0.41 EPS for the current fiscal year.

Institutional Trading of Gogo

Several institutional investors and hedge funds have recently modified their holdings of GOGO. Brighton Jones LLC boosted its holdings in shares of Gogo by 69.6% in the 4th quarter. Brighton Jones LLC now owns 17,000 shares of the technology company’s stock worth $138,000 after purchasing an additional 6,978 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of Gogo by 43.4% in the first quarter. AQR Capital Management LLC now owns 47,219 shares of the technology company’s stock worth $407,000 after buying an additional 14,293 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Gogo by 6.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,205 shares of the technology company’s stock valued at $338,000 after acquiring an additional 2,342 shares during the last quarter. Millennium Management LLC raised its position in Gogo by 439.5% during the 1st quarter. Millennium Management LLC now owns 709,003 shares of the technology company’s stock valued at $6,112,000 after purchasing an additional 577,575 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Gogo by 23.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 294,173 shares of the technology company’s stock worth $2,536,000 after acquiring an additional 56,232 shares during the period. Hedge funds and other institutional investors own 69.60% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on GOGO. William Blair downgraded Gogo from an “outperform” rating to a “market perform” rating in a report on Tuesday, December 9th. Weiss Ratings restated a “sell (d)” rating on shares of Gogo in a report on Monday, December 29th. Finally, Morgan Stanley set a $8.00 price objective on Gogo in a report on Friday, January 16th. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $12.25.

Gogo Company Profile

Gogo Inc is a leading provider of in-flight connectivity and entertainment solutions for commercial and business aviation. The company specializes in delivering broadband internet, voice and text services, and streaming entertainment to passengers at 35,000 feet. Gogo’s offerings include both air-to-ground (ATG) networks and satellite-based connectivity, enabling reliable in-flight internet access across a range of aircraft types.

Gogo’s ATG network spans the United States and portions of Canada, using ground towers to transmit data signals directly to equipped aircraft.