Oakleigh Thorne Acquires 30,173 Shares of Gogo Inc. (NASDAQ:GOGO) Stock

Gogo Inc. (NASDAQ:GOGO - Get Free Report) Director Oakleigh Thorne acquired 30,173 shares of the company's stock in a transaction dated Monday, March 17th. The stock was acquired at an average cost of $6.57 per share, with a total value of $198,236.61. Following the transaction, the director now directly owns 711,341 shares of the company's stock, valued at approximately $4,673,510.37. This represents a 4.43 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Gogo Stock Down 3.9 %

GOGO traded down $0.30 during trading hours on Friday, reaching $7.42. 2,390,565 shares of the stock traded hands, compared to its average volume of 1,093,685. The firm's fifty day simple moving average is $7.75 and its two-hundred day simple moving average is $7.56. The company has a market cap of $933.28 million, a price-to-earnings ratio of 17.26 and a beta of 1.01. Gogo Inc. has a fifty-two week low of $6.17 and a fifty-two 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.

Gogo (NASDAQ:GOGO - Get Free Report) last released its quarterly earnings results on Friday, March 14th. The technology company reported $0.07 earnings per share for the quarter, beating analysts' consensus estimates of $0.04 by $0.03. The business had revenue of $137.80 million during 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 business's revenue was up 40.9% on a year-over-year basis. During the same period last year, the business earned $0.11 EPS. As a group, analysts forecast that Gogo Inc. will post 0.41 earnings per share for the current fiscal year.

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Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on GOGO shares. StockNews.com lowered shares of Gogo from a "hold" rating to a "sell" rating in a research report on Monday, March 17th. Roth Mkm dropped their price objective on shares of Gogo from $15.50 to $13.00 and set a "buy" rating for the company in a research report on Monday, March 17th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GOGO. FMR LLC grew its holdings in Gogo by 138.4% during the 4th quarter. FMR LLC now owns 13,475,009 shares of the technology company's stock worth $109,013,000 after acquiring an additional 7,821,973 shares in the last quarter. Nantahala Capital Management LLC grew its holdings in Gogo by 441.5% during the 4th quarter. Nantahala Capital Management LLC now owns 2,574,642 shares of the technology company's stock worth $20,829,000 after acquiring an additional 2,099,145 shares in the last quarter. Silvercrest Asset Management Group LLC acquired a new position in Gogo during the 4th quarter worth $14,147,000. Tenzing Global Management LLC grew its holdings in Gogo by 59.6% during the 4th quarter. Tenzing Global Management LLC now owns 2,075,000 shares of the technology company's stock worth $16,787,000 after acquiring an additional 775,000 shares in the last quarter. Finally, Capco Asset Management LLC grew its holdings in Gogo by 22.1% during the 4th quarter. Capco Asset Management LLC now owns 3,009,743 shares of the technology company's stock worth $24,349,000 after acquiring an additional 544,178 shares in the last quarter. 69.60% of the stock is owned by institutional investors and hedge funds.

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.