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

Gogo Inc. (NASDAQ:GOGO - Get Free Report) was the target of some unusual options trading on Wednesday. Stock investors acquired 15,019 put options on the company. This is an increase of 661% compared to the average daily volume of 1,974 put options.

Wall Street Analyst Weigh In

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

Gogo Stock Down 3.9 %

GOGO traded down $0.30 on Friday, hitting $7.42. 2,390,565 shares of the company were exchanged, compared to its average volume of 1,095,024. The firm has a 50-day moving average price of $7.75 and a two-hundred day moving average price of $7.55. The company has a current ratio of 3.58, a quick ratio of 2.81 and a debt-to-equity ratio of 11.07. Gogo has a twelve month low of $6.17 and a twelve month high of $11.00. 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 (NASDAQ:GOGO - Get Free Report) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $97.80 million. Gogo had a return on equity of 121.96% and a net margin of 13.94%. The business's revenue for the quarter was up 40.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.11 earnings per share. On average, equities analysts predict that Gogo will post 0.41 earnings per share for the current year.

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Insider Activity

In other news, Director Oakleigh Thorne bought 30,173 shares of the firm's stock in a transaction that occurred on Monday, March 17th. The shares were purchased at an average price of $6.57 per share, with a total value of $198,236.61. Following the purchase, the director now owns 711,341 shares in the company, valued at approximately $4,673,510.37. The trade was a 4.43 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 26.00% of the company's stock.

Institutional Investors Weigh In On Gogo

Large investors have recently modified their holdings of the company. PharVision Advisers LLC acquired a new position in shares of Gogo during the fourth quarter worth $746,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Gogo by 14.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 237,941 shares of the technology company's stock worth $1,925,000 after buying an additional 29,585 shares during the last quarter. Voloridge Investment Management LLC boosted its position in shares of Gogo by 76.1% during the 4th quarter. Voloridge Investment Management LLC now owns 581,706 shares of the technology company's stock worth $4,706,000 after acquiring an additional 251,348 shares in the last quarter. Squarepoint Ops LLC increased its holdings in shares of Gogo by 222.0% in the 4th quarter. Squarepoint Ops LLC now owns 30,506 shares of the technology company's stock valued at $247,000 after acquiring an additional 55,506 shares during the last quarter. Finally, Two Sigma Investments LP raised its holdings in Gogo by 50.1% during the fourth quarter. Two Sigma Investments LP now owns 101,778 shares of the technology company's stock worth $823,000 after purchasing an additional 33,960 shares in the last quarter. 69.60% of the stock is owned by hedge funds and other institutional investors.

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.