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

Gogo Inc. (NASDAQ:GOGO) saw unusually large options trading activity on Wednesday. Stock traders purchased 15,019 put options on the stock. This represents an increase of 661% compared to the average daily volume of 1,974 put options.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on GOGO shares. StockNews.com cut shares of Gogo from a “hold” rating to a “sell” rating in a report on Monday. Roth Mkm cut their price target on shares of Gogo from $15.50 to $13.00 and set a “buy” rating on the stock in a report on Monday.

Gogo Stock Performance

GOGO stock traded up $0.36 during trading on Wednesday, hitting $7.29. 1,676,295 shares of the company’s stock traded hands, compared to its average volume of 1,073,254. 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 has a 52 week low of $6.17 and a 52 week high of $11.00. The stock has a fifty day moving average price of $7.74 and a two-hundred day moving average price of $7.56. The stock has a market capitalization of $916.30 million, a price-to-earnings ratio of 16.94 and a beta of 1.01.

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

Insiders Place Their Bets

In other news, Director Oakleigh Thorne bought 30,173 shares of Gogo stock in a transaction dated Monday, March 17th. The shares were acquired at an average cost of $6.57 per share, with a total value of $198,236.61. Following the completion of the transaction, 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 purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 26.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Gogo

A number of institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC lifted its stake in Gogo by 138.4% during the fourth quarter. FMR LLC now owns 13,475,009 shares of the technology company’s stock valued at $109,013,000 after buying an additional 7,821,973 shares in the last quarter. Capco Asset Management LLC increased its holdings in Gogo by 22.1% in the fourth quarter. Capco Asset Management LLC now owns 3,009,743 shares of the technology company’s stock worth $24,349,000 after buying an additional 544,178 shares during the last quarter. Nantahala Capital Management LLC increased its holdings in Gogo by 441.5% in the fourth quarter. Nantahala Capital Management LLC now owns 2,574,642 shares of the technology company’s stock worth $20,829,000 after buying an additional 2,099,145 shares during the last quarter. State Street Corp increased its holdings in Gogo by 2.1% in the third quarter. State Street Corp now owns 2,461,691 shares of the technology company’s stock worth $17,675,000 after buying an additional 51,681 shares during the last quarter. Finally, William Blair Investment Management LLC grew its holdings in Gogo by 15.8% during the fourth quarter. William Blair Investment Management LLC now owns 2,424,378 shares of the technology company’s stock valued at $19,613,000 after purchasing an additional 330,961 shares during the last quarter. 69.60% of the stock is owned by institutional investors and hedge funds.

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.