Gogo Target of Unusually High Options Trading (NASDAQ:GOGO)

Gogo Inc. (NASDAQ:GOGO) was the recipient of unusually large options trading on Tuesday. Investors acquired 9,871 call options on the company. This is an increase of approximately 688% compared to the typical daily volume of 1,253 call options.

Institutional Investors Weigh In On Gogo

A number of hedge funds and other institutional investors have recently modified their holdings of the company. nVerses Capital LLC bought a new position in Gogo during the third quarter worth about $34,000. Brighton Jones LLC acquired a new position in shares of Gogo during the 3rd quarter worth approximately $72,000. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Gogo during the second quarter worth approximately $107,000. AQR Capital Management LLC acquired a new stake in shares of Gogo in the second quarter valued at approximately $108,000. Finally, SG Americas Securities LLC bought a new stake in shares of Gogo in the second quarter valued at approximately $109,000. Institutional investors and hedge funds own 69.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on GOGO. Roth Mkm reiterated a “buy” rating and set a $15.50 target price on shares of Gogo in a research note on Tuesday, September 17th. JPMorgan Chase & Co. reduced their price objective on shares of Gogo from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Thursday, August 8th. Finally, Morgan Stanley decreased their price objective on shares of Gogo from $12.00 to $11.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 3rd.

Gogo Trading Up 30.2 %

Shares of NASDAQ:GOGO opened at $8.53 on Wednesday. Gogo has a 12-month low of $6.17 and a 12-month high of $11.17. The business has a 50 day moving average of $7.11 and a 200-day moving average of $8.51. The company has a quick ratio of 3.16, a current ratio of 3.95 and a debt-to-equity ratio of 11.25. The stock has a market cap of $1.08 billion, a PE ratio of 16.73 and a beta of 1.10.

Gogo (NASDAQ:GOGO) last released its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.06). Gogo had a net margin of 16.59% and a return on equity of 145.01%. The firm had revenue of $102.10 million during the quarter, compared to the consensus estimate of $99.02 million. During the same quarter last year, the firm earned $0.20 earnings per share. The business’s revenue for the quarter was down 1.1% compared to the same quarter last year. As a group, equities research analysts forecast that Gogo will post 0.35 earnings per share for the current year.

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.