Gogo (NASDAQ:GOGO) Shares Up 8.6% - Still a Buy?

Gogo Inc. (NASDAQ:GOGO - Get Free Report) rose 8.6% during trading on Monday . The company traded as high as $7.80 and last traded at $8.06. Approximately 493,050 shares traded hands during trading, a decline of 55% from the average daily volume of 1,095,192 shares. The stock had previously closed at $7.42.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on GOGO shares. Roth Mkm dropped their target price 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. StockNews.com downgraded Gogo from a "hold" rating to a "sell" rating in a research note on Monday, March 17th.

Gogo Trading Down 1.0 %

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 business's fifty day simple moving average is $7.84 and its 200 day simple moving average is $7.57. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 20.06 and a beta of 1.01.

Gogo (NASDAQ:GOGO - Get Free Report) last announced its quarterly 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. Gogo had a net margin of 13.94% and a return on equity of 121.96%. The company had revenue of $137.80 million during the quarter, compared to the consensus estimate of $97.80 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. The company's revenue for the quarter was up 40.9% compared to the same quarter last year. On average, research analysts predict that Gogo Inc. will post 0.41 EPS for the current year.

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Insiders Place Their Bets

In other Gogo news, Director Oakleigh Thorne acquired 30,173 shares of Gogo 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 owns 711,341 shares in the company, valued at approximately $4,673,510.37. This represents a 4.43 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 26.00% of the stock is owned by insiders.

Institutional Trading of Gogo

Hedge funds have recently added to or reduced their stakes in the business. Lazard Asset Management LLC bought a new position in shares of Gogo in the fourth quarter worth $43,000. State of Wyoming bought a new position in Gogo in the 4th quarter valued at about $57,000. Teza Capital Management LLC bought a new position in Gogo in the 4th quarter valued at about $110,000. Hsbc Holdings PLC acquired a new position in Gogo during the 4th quarter valued at about $116,000. Finally, Diametric Capital LP bought a new stake in shares of Gogo during the 4th quarter worth about $121,000. Institutional investors own 69.60% of the company's stock.

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.