Gogo (NASDAQ:GOGO – Get Free Report) is scheduled to release its earnings data before the market opens on Wednesday, February 28th. Analysts expect Gogo to post earnings of $0.11 per share for the quarter. Persons interested in listening to the company’s earnings conference call can do so using this link.
Gogo Stock Performance
Gogo stock opened at $8.50 on Monday. The stock’s 50 day simple moving average is $9.38 and its two-hundred day simple moving average is $10.58. The company has a debt-to-equity ratio of 17.55, a quick ratio of 3.58 and a current ratio of 4.59. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 7.14 and a beta of 1.12. Gogo has a fifty-two week low of $8.44 and a fifty-two week high of $17.94.
Analyst Ratings Changes
Several equities research analysts recently commented on GOGO shares. Roth Mkm dropped their price objective on shares of Gogo from $18.75 to $17.50 and set a “buy” rating on the stock in a research note on Tuesday, December 12th. JPMorgan Chase & Co. dropped their price objective on shares of Gogo from $18.00 to $15.00 and set a “neutral” rating on the stock in a research note on Wednesday, November 8th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $17.13.
Insider Buying and Selling
In related news, EVP Karen Jackson sold 86,292 shares of the company’s stock in a transaction dated Thursday, December 7th. The shares were sold at an average price of $10.26, for a total value of $885,355.92. Following the transaction, the executive vice president now owns 39,556 shares in the company, valued at approximately $405,844.56. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 26.00% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently modified their holdings of GOGO. Millennium Management LLC lifted its holdings in shares of Gogo by 1,102.7% during the fourth quarter. Millennium Management LLC now owns 1,087,723 shares of the technology company’s stock valued at $16,055,000 after purchasing an additional 997,281 shares in the last quarter. State Street Corp lifted its holdings in shares of Gogo by 74.2% during the 2nd quarter. State Street Corp now owns 2,205,326 shares of the technology company’s stock valued at $35,704,000 after buying an additional 939,632 shares during the period. BlackRock Inc. lifted its holdings in shares of Gogo by 8.1% during the 2nd quarter. BlackRock Inc. now owns 10,250,993 shares of the technology company’s stock valued at $174,369,000 after buying an additional 765,720 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of Gogo by 124.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,257,095 shares of the technology company’s stock valued at $18,228,000 after buying an additional 697,243 shares during the period. Finally, Deutsche Bank AG lifted its holdings in shares of Gogo by 2,328.2% during the 1st quarter. Deutsche Bank AG now owns 715,137 shares of the technology company’s stock valued at $10,369,000 after buying an additional 685,686 shares during the period. 66.88% of the stock is owned by institutional investors.
Gogo Company Profile
Gogo Inc, through its subsidiaries, provides broadband connectivity services to the aviation industry in the United States and internationally. The company operates through Commercial Aviation-North America, Commercial Aviation-Rest of World, and Business Aviation segments. Its platform include networks, antennas, and airborne equipment and software.
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