Gogo (NASDAQ:GOGO) Cut to Sell at StockNews.com

StockNews.com lowered shares of Gogo (NASDAQ:GOGO) from a hold rating to a sell rating in a report published on Monday.

Separately, 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 report on Monday.

Gogo Trading Up 11.1 %

Shares of GOGO stock opened at $7.70 on Monday. Gogo has a 52-week low of $6.17 and a 52-week high of $11.00. The company has a debt-to-equity ratio of 11.07, a quick ratio of 2.81 and a current ratio of 3.58. The firm has a market capitalization of $968.50 million, a PE ratio of 17.91 and a beta of 1.01. The stock has a fifty day simple moving average of $7.74 and a two-hundred day simple moving average of $7.56.

Gogo (NASDAQ:GOGO) last released its quarterly earnings data on Friday, March 14th. The technology company reported $0.07 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 business had revenue of $137.80 million during the quarter, compared to the consensus estimate of $97.80 million. During the same quarter in the prior year, the firm earned $0.11 EPS. The business’s revenue was up 40.9% on a year-over-year basis. On average, analysts predict that Gogo will post 0.41 EPS for the current fiscal year.

Insider Buying and Selling at Gogo

In other Gogo news, Director Oakleigh Thorne purchased 30,173 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was purchased at an average price of $6.57 per share, with a total value of $198,236.61. Following the acquisition, 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 purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 26.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in GOGO. Royce & Associates LP lifted its holdings in shares of Gogo by 39.4% in the 3rd quarter. Royce & Associates LP now owns 123,910 shares of the technology company’s stock valued at $890,000 after acquiring an additional 35,025 shares during the last quarter. Quest Partners LLC bought a new stake in Gogo in the third quarter worth about $158,000. Intech Investment Management LLC bought a new stake in Gogo in the third quarter worth about $740,000. Charles Schwab Investment Management Inc. lifted its stake in Gogo by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 557,732 shares of the technology company’s stock worth $4,005,000 after purchasing an additional 3,181 shares during the last quarter. Finally, Algert Global LLC lifted its stake in Gogo by 174.4% in the third quarter. Algert Global LLC now owns 120,500 shares of the technology company’s stock worth $865,000 after purchasing an additional 76,590 shares during the last quarter. 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.