Gogo (NASDAQ:GOGO – Get Rating) was downgraded by analysts at StockNews.com from a "hold" rating to a "sell" rating in a research report issued on Friday.
Separately, Morgan Stanley raised Gogo from an "underweight" rating to an "equal weight" rating and increased their price target for the stock from $14.00 to $15.00 in a research report on Tuesday, November 1st.
Get Gogo alerts:Gogo Trading Up 0.8 %
NASDAQ:GOGO opened at $16.17 on Friday. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of 7.70 and a beta of 1.25. The stock has a 50-day moving average price of $15.25 and a two-hundred day moving average price of $14.91. Gogo has a 1 year low of $11.57 and a 1 year high of $23.69.
Gogo (NASDAQ:GOGO – Get Rating) last released its earnings results on Thursday, November 3rd. The technology company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.14 by $0.01. The business had revenue of $105.32 million for the quarter, compared to analyst estimates of $101.89 million. Gogo had a negative return on equity of 39.26% and a net margin of 72.93%. Sell-side analysts forecast that Gogo will post 0.62 earnings per share for the current year.Hedge Funds Weigh In On Gogo
A number of hedge funds have recently added to or reduced their stakes in GOGO. Penn Capital Management Company LLC lifted its position in shares of Gogo by 19.9% during the 3rd quarter. Penn Capital Management Company LLC now owns 569,764 shares of the technology company's stock worth $6,915,000 after buying an additional 94,691 shares in the last quarter. Teachers Retirement System of The State of Kentucky bought a new stake in Gogo during the 3rd quarter valued at $258,000. Tealwood Asset Management Inc. raised its holdings in Gogo by 46.7% during the 3rd quarter. Tealwood Asset Management Inc. now owns 144,713 shares of the technology company's stock valued at $1,754,000 after acquiring an additional 46,063 shares during the period. Alpha Paradigm Partners LLC bought a new stake in Gogo during the 3rd quarter valued at $1,310,000. Finally, Algert Global LLC grew its position in shares of Gogo by 33.0% during the 3rd quarter. Algert Global LLC now owns 178,164 shares of the technology company's stock valued at $2,159,000 after purchasing an additional 44,240 shares in the last quarter. Institutional investors and hedge funds own 64.41% of the company's stock.
Gogo Company Profile
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Gogo Inc, through its subsidiaries, provides broadband connectivity services to the aviation industry in the United States and internationally. It operates through Commercial Aviation North America (CA-NA), Commercial Aviation Rest of World (CA-ROW), and Business Aviation (BA) segments. The company design, build and operate air-to-ground networks, engineer and maintain in-flight systems of proprietary hardware and software, and deliver customizable connectivity and wireless entertainment services.
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