Investors 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. Investors acquired 17,012 call options on the company. This is an increase of approximately 1,049% compared to the typical daily volume of 1,480 call options.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Morgan Stanley lowered their price objective on shares of Gogo from $12.00 to $11.00 and set an “equal weight” rating for the company in a research report on Tuesday, September 3rd. Roth Mkm reaffirmed a “buy” rating and issued a $15.50 target price on shares of Gogo in a research note on Tuesday, September 17th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. Virtu Financial LLC bought a new stake in Gogo during the 3rd quarter worth about $169,000. Barclays PLC raised its holdings 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 acquiring an additional 85,925 shares in the last quarter. Y Intercept Hong Kong Ltd boosted its position in Gogo by 102.8% during the third quarter. Y Intercept Hong Kong Ltd now owns 29,037 shares of the technology company’s stock valued at $208,000 after purchasing an additional 14,718 shares during the last quarter. Weiss Asset Management LP acquired a new position in Gogo during the third quarter valued at approximately $3,031,000. Finally, State Street Corp grew its stake in Gogo by 2.1% in the third quarter. State Street Corp now owns 2,461,691 shares of the technology company’s stock valued at $17,675,000 after purchasing an additional 51,681 shares in the last quarter. Institutional investors and hedge funds own 69.60% of the company’s stock.

Gogo Trading Down 2.0 %

NASDAQ:GOGO opened at $7.76 on Friday. The company has a market cap of $976.05 million, a P/E ratio of 18.05 and a beta of 1.18. Gogo has a twelve month low of $6.17 and a twelve month high of $11.17. The business has a 50 day moving average price of $7.60 and a two-hundred day moving average price of $8.09. 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 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.