Gogo Inc. (NASDAQ:GOGO - Get Free Report) shares fell 5.9% on Friday . The company traded as low as $7.23 and last traded at $7.27. 379,910 shares changed hands during trading, a decline of 71% from the average session volume of 1,309,450 shares. The stock had previously closed at $7.72.
Analyst Ratings Changes
Several analysts have issued reports on GOGO shares. StockNews.com lowered Gogo from a "hold" rating to a "sell" rating in a research note on Monday, March 17th. Roth Mkm decreased their target price on Gogo from $15.50 to $13.00 and set a "buy" rating on the stock in a report on Monday, March 17th.
Check Out Our Latest Report on GOGO
Gogo Price Performance
The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 19.48 and a beta of 1.01. The company's 50 day moving average is $7.77 and its 200 day moving average is $7.55. The company has a quick ratio of 2.81, a current ratio of 3.58 and a debt-to-equity ratio of 11.07.
Gogo (NASDAQ:GOGO - Get Free Report) last announced its quarterly earnings data on Friday, March 14th. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.04 by $0.03. Gogo had a net margin of 13.94% and a return on equity of 121.96%. The firm had revenue of $137.80 million for the quarter, compared to the consensus estimate of $97.80 million. During the same period in the prior year, the company posted $0.11 earnings per share. The business's revenue for the quarter was up 40.9% on a year-over-year basis. On average, equities research analysts anticipate that Gogo Inc. will post 0.41 earnings per share for the current fiscal year.
Insider Buying and Selling at Gogo
In other Gogo news, Director Oakleigh Thorne acquired 30,173 shares of Gogo stock in a transaction that occurred on Monday, March 17th. The shares were bought at an average price of $6.57 per share, with a total value of $198,236.61. Following the completion of the purchase, the director now directly owns 711,341 shares in the company, valued at $4,673,510.37. This trade represents a 4.43 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 26.00% of the company's stock.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Gogo by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,863 shares of the technology company's stock valued at $298,000 after purchasing an additional 1,273 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in shares of Gogo by 0.6% during the fourth quarter. Nuveen Asset Management LLC now owns 223,317 shares of the technology company's stock valued at $1,807,000 after buying 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 shares of Gogo by 0.8% during 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 valued at $1,496,000 after buying an additional 1,714 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Gogo by 0.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 557,732 shares of the technology company's stock worth $4,005,000 after acquiring an additional 3,181 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Gogo by 8.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 62,032 shares of the technology company's stock worth $502,000 after acquiring an additional 5,078 shares during the last quarter. 69.60% of the stock is owned by institutional investors and hedge funds.
About Gogo
(
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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.
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