Oakleigh Thorne Purchases 30,173 Shares of Gogo Inc. (NASDAQ:GOGO) Stock

Gogo Inc. (NASDAQ:GOGO) Director Oakleigh Thorne acquired 30,173 shares of the stock in a transaction dated Monday, March 17th. The shares were purchased at an average price of $6.57 per share, for a total transaction 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. The trade was a 4.43 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website.

Gogo Stock Up 11.1 %

GOGO opened at $7.70 on Thursday. 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 Inc. has a 1-year low of $6.17 and a 1-year high of $11.00. The company has a market capitalization of $968.50 million, a PE ratio of 17.91 and a beta of 1.01. The firm’s 50 day simple moving average is $7.74 and its two-hundred day simple moving average is $7.56.

Gogo (NASDAQ:GOGO) last announced its earnings results on Friday, March 14th. The technology company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.03. The business had revenue of $137.80 million for the quarter, compared to the consensus estimate of $97.80 million. Gogo had a net margin of 13.94% and a return on equity of 121.96%. The business’s revenue for the quarter was up 40.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.11 earnings per share. As a group, equities analysts forecast that Gogo Inc. will post 0.41 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Roth Mkm lowered their price objective on Gogo from $15.50 to $13.00 and set a “buy” rating for the company in a research report on Monday. StockNews.com downgraded shares of Gogo from a “hold” rating to a “sell” rating in a research report on Monday.

Institutional Trading of Gogo

Institutional investors have recently bought and sold shares of the stock. Barclays PLC boosted its position in Gogo by 357.5% during the third quarter. Barclays PLC now owns 109,959 shares of the technology company’s stock worth $789,000 after purchasing an additional 85,925 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Gogo by 256.1% in the 4th quarter. Van ECK Associates Corp now owns 154,706 shares of the technology company’s stock worth $1,252,000 after acquiring an additional 111,267 shares during the last quarter. State Street Corp boosted its holdings in Gogo by 2.1% during the 3rd quarter. State Street Corp now owns 2,461,691 shares of the technology company’s stock valued at $17,675,000 after acquiring an additional 51,681 shares during the period. FMR LLC boosted its position in Gogo by 13.5% in the 3rd quarter. FMR LLC now owns 5,653,036 shares of the technology company’s stock valued at $40,589,000 after buying an additional 673,315 shares during the period. Finally, Dynamic Technology Lab Private Ltd grew its position in shares of Gogo by 612.1% during the third quarter. Dynamic Technology Lab Private Ltd now owns 253,114 shares of the technology company’s stock worth $1,817,000 after buying an additional 217,570 shares in the last quarter. 69.60% of the stock is currently owned by institutional investors and hedge funds.

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.