Gogo (NASDAQ:GOGO) Hits New 52-Week High – Should You Buy?

Gogo Inc. (NASDAQ:GOGO) reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $16.00 and last traded at $15.83, with a volume of 2172724 shares. The stock had previously closed at $15.46.

Analysts Set New Price Targets

A number of research firms have recently issued reports on GOGO. Wall Street Zen upgraded shares of Gogo from a “hold” rating to a “buy” rating in a research note on Thursday, May 22nd. Roth Mkm dropped their price objective on shares of Gogo from $15.50 to $13.00 and set a “buy” rating for the company in a research note on Monday, March 17th. Finally, Roth Capital set a $16.50 price objective on shares of Gogo and gave the stock a “buy” rating in a research note on Wednesday, June 18th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.63.

Gogo Stock Up 2.4%

The company has a current ratio of 1.84, a quick ratio of 1.36 and a debt-to-equity ratio of 10.03. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of -395.75 and a beta of 1.06. The firm’s 50 day simple moving average is $11.86 and its two-hundred day simple moving average is $9.15.

Gogo (NASDAQ:GOGO) last issued its earnings results on Friday, May 9th. The technology company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.05 by $0.13. The company had revenue of $230.31 million during the quarter, compared to analysts’ expectations of $214.93 million. Gogo had a negative net margin of 0.82% and a positive return on equity of 95.01%. The business’s revenue for the quarter was up 120.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.23 EPS. On average, equities analysts forecast that Gogo Inc. will post 0.41 EPS for the current year.

Insider Activity at Gogo

In other news, EVP Michael Begler sold 107,136 shares of the business’s stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $15.00, for a total value of $1,607,040.00. Following the completion of the transaction, the executive vice president directly owned 14,454 shares in the company, valued at approximately $216,810. The trade was a 88.11% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director (Equity) Holdings Lp Silver sold 8,500,000 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $11.00, for a total transaction of $93,500,000.00. Following the completion of the transaction, the director owned 4,174,482 shares of the company’s stock, valued at $45,919,302. The trade was a 67.06% decrease in their ownership of the stock. The disclosure for this sale can be found here. 25.78% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Gogo

Hedge funds and other institutional investors have recently made changes to their positions in the stock. GAMMA Investing LLC grew its holdings in shares of Gogo by 532.9% during the 1st quarter. GAMMA Investing LLC now owns 3,595 shares of the technology company’s stock valued at $31,000 after purchasing an additional 3,027 shares during the last quarter. Lazard Asset Management LLC bought a new stake in shares of Gogo during the 4th quarter valued at approximately $43,000. State of Wyoming bought a new stake in shares of Gogo during the 4th quarter valued at approximately $57,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Gogo during the 1st quarter valued at approximately $111,000. Finally, Teza Capital Management LLC bought a new stake in shares of Gogo during the 4th quarter valued at approximately $110,000. 69.60% of the stock is owned by institutional investors.

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.