StockNews.com Downgrades Gogo (NASDAQ:GOGO) to Sell

StockNews.com cut shares of Gogo (NASDAQ:GOGO) from a hold rating to a sell rating in a research note published on Monday.

Separately, Roth Mkm reduced their target price on shares of Gogo from $15.50 to $13.00 and set a “buy” rating on the stock in a research report on Monday.

Gogo Stock Performance

Shares of NASDAQ:GOGO opened at $7.70 on Monday. The firm has a market cap of $968.50 million, a PE ratio of 17.91 and a beta of 1.01. The firm’s 50 day simple moving average is $7.74 and its 200-day simple moving average is $7.56. Gogo has a one year low of $6.17 and a one year high of $11.00. The company has a debt-to-equity ratio of 11.07, a quick ratio of 2.81 and a current ratio of 3.58.

Gogo (NASDAQ:GOGO) last issued its earnings results on Friday, March 14th. The technology company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. The business had revenue of $137.80 million for the quarter, compared to analyst estimates of $97.80 million. Gogo had a net margin of 13.94% and a return on equity of 121.96%. The company’s quarterly revenue was up 40.9% compared to the same quarter last year. During the same period last year, the company posted $0.11 earnings per share. As a group, equities analysts predict that Gogo will post 0.41 EPS for the current year.

Insider Activity at Gogo

In other Gogo news, Director Oakleigh Thorne acquired 30,173 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were bought at an average cost of $6.57 per share, with a total value of $198,236.61. Following the completion of 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 26.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Gogo

Several institutional investors have recently bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Gogo by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,863 shares of the technology company’s stock valued at $298,000 after buying an additional 1,273 shares during the period. Nuveen Asset Management LLC grew its holdings in Gogo by 0.6% in the fourth quarter. Nuveen Asset Management LLC now owns 223,317 shares of the technology company’s stock worth $1,807,000 after purchasing an additional 1,373 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Gogo by 0.8% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 208,356 shares of the technology company’s stock worth $1,496,000 after purchasing an additional 1,714 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Gogo by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 557,732 shares of the technology company’s stock worth $4,005,000 after purchasing an additional 3,181 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in Gogo by 8.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 62,032 shares of the technology company’s stock worth $502,000 after purchasing an additional 5,078 shares during the last quarter. 69.60% of the stock is owned by hedge funds and other institutional investors.

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.