Gogo (NASDAQ:GOGO) Downgraded by BidaskClub

BidaskClub cut shares of Gogo (NASDAQ:GOGO) from a hold rating to a sell rating in a research note issued to investors on Monday morning, BidAskClub reports.

GOGO has been the topic of several other research reports. Roth Capital initiated coverage on Gogo in a research report on Monday, May 13th. They issued a buy rating and a $10.00 target price on the stock. William Blair upgraded Gogo from a market perform rating to an outperform rating in a research report on Friday, May 10th. Finally, Zacks Investment Research downgraded Gogo from a strong-buy rating to a hold rating in a research report on Wednesday, August 14th. Two analysts have rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $5.75.

NASDAQ GOGO opened at $4.03 on Monday. The company has a market cap of $375.17 million, a PE ratio of -2.20 and a beta of 0.97. The stock’s 50 day simple moving average is $4.27 and its 200-day simple moving average is $4.57. Gogo has a 1-year low of $2.64 and a 1-year high of $7.82.

Gogo (NASDAQ:GOGO) last released its earnings results on Thursday, August 8th. The technology company reported ($0.47) earnings per share for the quarter, beating the consensus estimate of ($0.59) by $0.12. The firm had revenue of $213.70 million during the quarter, compared to analysts’ expectations of $199.62 million. The business’s revenue was down 6.1% compared to the same quarter last year. During the same quarter last year, the business earned ($0.47) EPS. Research analysts forecast that Gogo will post -1.83 EPS for the current fiscal year.

In related news, Director Charles C. Townsend acquired 100,000 shares of Gogo stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average price of $4.43 per share, for a total transaction of $443,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 41.50% of the company’s stock.

Institutional investors have recently made changes to their positions in the stock. MetLife Investment Advisors LLC purchased a new position in Gogo during the first quarter worth approximately $121,000. Cooper Haims Advisors LLC purchased a new position in Gogo during the first quarter worth approximately $186,000. Intersect Capital LLC purchased a new position in Gogo during the first quarter worth approximately $90,000. North Peak Capital Management LLC lifted its position in Gogo by 1,012.3% during the first quarter. North Peak Capital Management LLC now owns 2,780,647 shares of the technology company’s stock worth $12,485,000 after buying an additional 2,530,647 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Gogo by 2.9% during the fourth quarter. Geode Capital Management LLC now owns 667,641 shares of the technology company’s stock worth $1,996,000 after buying an additional 18,884 shares in the last quarter. Hedge funds and other institutional investors own 60.12% of the company’s stock.

Gogo Company Profile

Gogo Inc, through its subsidiaries, provides inflight broadband connectivity and wireless entertainment services to the aviation industry in the United States and internationally. It operates through three segments: Commercial Aviation North America (CA-NA), Commercial Aviation Rest of World (CA-ROW), and Business Aviation (BA).

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