Gogo (NASDAQ:GOGO) Stock Price Down 5.9% – What’s Next?

Shares of Gogo Inc. (NASDAQ:GOGO) fell 5.9% during mid-day trading on Friday . The company traded as low as $7.23 and last traded at $7.27. 379,910 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 1,309,450 shares. The stock had previously closed at $7.72.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on GOGO. Roth Mkm lowered their target price on Gogo from $15.50 to $13.00 and set a “buy” rating for the company in a research note on Monday, March 17th. StockNews.com downgraded Gogo from a “hold” rating to a “sell” rating in a report on Monday, March 17th.

Gogo Trading Down 3.9 %

The company has a debt-to-equity ratio of 11.07, a quick ratio of 2.81 and a current ratio of 3.58. The business has a fifty day simple moving average of $7.75 and a 200 day simple moving average of $7.55. The company has a market cap of $933.28 million, a P/E ratio of 17.26 and a beta of 1.01.

Gogo (NASDAQ:GOGO) last released its earnings results on Friday, March 14th. The technology company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. Gogo had a return on equity of 121.96% and a net margin of 13.94%. The company had revenue of $137.80 million for the quarter, compared to the consensus estimate of $97.80 million. During the same quarter last year, the business posted $0.11 EPS. Gogo’s quarterly revenue was up 40.9% compared to the same quarter last year. Analysts anticipate that Gogo Inc. will post 0.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Oakleigh Thorne purchased 30,173 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were acquired at an average price of $6.57 per share, with a total value of $198,236.61. Following the acquisition, the director now owns 711,341 shares in the company, valued at approximately $4,673,510.37. This trade represents a 4.43 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 added to or reduced their stakes in the stock. PharVision Advisers LLC acquired a new position in Gogo during the 4th quarter valued at approximately $746,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Gogo by 14.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 237,941 shares of the technology company’s stock valued at $1,925,000 after purchasing an additional 29,585 shares during the period. Voloridge Investment Management LLC boosted its position in Gogo by 76.1% during the 4th quarter. Voloridge Investment Management LLC now owns 581,706 shares of the technology company’s stock valued at $4,706,000 after purchasing an additional 251,348 shares during the period. Squarepoint Ops LLC boosted its position in Gogo by 222.0% during the 4th quarter. Squarepoint Ops LLC now owns 30,506 shares of the technology company’s stock valued at $247,000 after purchasing an additional 55,506 shares during the period. Finally, Two Sigma Investments LP boosted its position in Gogo by 50.1% during the 4th quarter. Two Sigma Investments LP now owns 101,778 shares of the technology company’s stock valued at $823,000 after purchasing an additional 33,960 shares during the period. Institutional investors and hedge funds own 69.60% of the company’s stock.

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.