Stock Traders Purchase High Volume of Call Options on Gogo (NASDAQ:GOGO)

Gogo Inc. (NASDAQ:GOGO) was the recipient of some unusual options trading activity on Wednesday. Stock investors acquired 17,012 call options on the stock. This is an increase of approximately 1,049% compared to the typical daily volume of 1,480 call options.

Institutional Investors Weigh In On Gogo

A number of institutional investors and hedge funds have recently bought and sold shares of GOGO. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position 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 worth $1,496,000 after purchasing an additional 1,714 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Gogo by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 557,732 shares of the technology company’s stock worth $4,005,000 after buying an additional 3,181 shares during the last quarter. Texas Permanent School Fund Corp increased its position in Gogo by 7.2% during the second quarter. Texas Permanent School Fund Corp now owns 57,452 shares of the technology company’s stock worth $553,000 after buying an additional 3,845 shares during the period. nVerses Capital LLC acquired a new position in Gogo during the third quarter worth approximately $34,000. Finally, Public Sector Pension Investment Board lifted its stake in Gogo by 4.6% in the second quarter. Public Sector Pension Investment Board now owns 134,206 shares of the technology company’s stock valued at $1,291,000 after buying an additional 5,869 shares during the last quarter. 69.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have commented on GOGO. Roth Mkm reiterated a “buy” rating and set a $15.50 price target on shares of Gogo in a report on Tuesday, September 17th. Morgan Stanley dropped their target price on Gogo from $12.00 to $11.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 3rd.

Gogo Stock Performance

Shares of Gogo stock opened at $7.92 on Thursday. 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 has a 52 week low of $6.17 and a 52 week high of $11.17. The firm’s 50 day moving average is $7.55 and its two-hundred day moving average is $8.09. The firm has a market capitalization of $996.17 million, a P/E ratio of 18.42 and a beta of 1.18.

About Gogo

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.