Investors Purchase Large Volume of Put Options on Gogo (NASDAQ:GOGO)

Gogo Inc. (NASDAQ:GOGO) was the target of some unusual options trading on Wednesday. Traders bought 15,019 put options on the company. This represents an increase of 661% compared to the typical volume of 1,974 put options.

Analyst Ratings Changes

A number of analysts have recently commented on GOGO shares. Roth Mkm cut their price objective on Gogo from $15.50 to $13.00 and set a “buy” rating for the company in a research report on Monday. StockNews.com cut Gogo from a “hold” rating to a “sell” rating in a research report on Monday.

Insider Activity

In other Gogo news, Director Oakleigh Thorne acquired 30,173 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was acquired at an average cost of $6.57 per share, for a total transaction of $198,236.61. Following the completion of the transaction, the director now directly owns 711,341 shares of the company’s stock, valued at $4,673,510.37. This represents a 4.43 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 26.00% of the company’s stock.

Institutional Trading of Gogo

Large investors have recently added to or reduced their stakes in the stock. Barclays PLC grew its holdings in Gogo by 357.5% in the 3rd quarter. Barclays PLC now owns 109,959 shares of the technology company’s stock valued at $789,000 after buying an additional 85,925 shares in the last quarter. Van ECK Associates Corp grew its holdings in Gogo by 256.1% in the 4th quarter. Van ECK Associates Corp now owns 154,706 shares of the technology company’s stock valued at $1,252,000 after buying an additional 111,267 shares in the last quarter. State Street Corp lifted its stake in shares of Gogo by 2.1% in the 3rd quarter. State Street Corp now owns 2,461,691 shares of the technology company’s stock valued at $17,675,000 after purchasing an additional 51,681 shares during the last quarter. FMR LLC lifted its stake in shares of Gogo by 13.5% in the 3rd quarter. FMR LLC now owns 5,653,036 shares of the technology company’s stock valued at $40,589,000 after purchasing an additional 673,315 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd lifted its stake in shares of Gogo by 612.1% in the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 253,114 shares of the technology company’s stock valued at $1,817,000 after purchasing an additional 217,570 shares during the last quarter. 69.60% of the stock is currently owned by hedge funds and other institutional investors.

Gogo Stock Up 0.3 %

Shares of GOGO opened at $7.72 on Friday. 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 has a one year low of $6.17 and a one year high of $11.00. The stock has a market capitalization of $971.01 million, a price-to-earnings ratio of 17.95 and a beta of 1.01. The stock has a 50 day moving average price of $7.75 and a 200 day moving average price of $7.56.

Gogo (NASDAQ:GOGO) last issued its earnings results on Friday, March 14th. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.03. The company had revenue of $137.80 million during the quarter, compared to analysts’ expectations of $97.80 million. Gogo had a return on equity of 121.96% and a net margin of 13.94%. The firm’s quarterly revenue was up 40.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.11 EPS. Equities research analysts forecast that Gogo will post 0.41 earnings per share for the current fiscal year.

Gogo Company Profile

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.