Traders Buy Large Volume of Gogo Put Options (NASDAQ:GOGO)

Gogo Inc. (NASDAQ:GOGO) was the target of some unusual options trading on Wednesday. Investors bought 15,019 put options on the stock. This is an increase of approximately 661% compared to the average volume of 1,974 put options.

Wall Street Analysts Forecast Growth

GOGO has been the subject of a number of analyst reports. Roth Mkm decreased their price objective on shares of Gogo from $15.50 to $13.00 and set a “buy” rating for the company in a report on Monday. StockNews.com downgraded Gogo from a “hold” rating to a “sell” rating in a research note on Monday.

Insider Activity at Gogo

In other Gogo news, Director Oakleigh Thorne purchased 30,173 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was acquired at an average cost of $6.57 per share, with a total value of $198,236.61. Following the completion of the acquisition, the director now directly owns 711,341 shares of the company’s stock, valued at $4,673,510.37. This represents a 4.43 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 26.00% of the stock is owned by insiders.

Institutional Investors Weigh In On Gogo

A number of institutional investors have recently made changes to their positions in the company. Lazard Asset Management LLC acquired a new position in Gogo in the 4th quarter valued at $43,000. State of Wyoming acquired a new position in shares of Gogo in the fourth quarter valued at about $57,000. Teza Capital Management LLC bought a new position in Gogo during the fourth quarter worth about $110,000. Hsbc Holdings PLC acquired a new stake in Gogo in the 4th quarter worth about $116,000. Finally, Diametric Capital LP acquired a new stake in Gogo in the 4th quarter worth about $121,000. Institutional investors own 69.60% of the company’s stock.

Gogo Stock Up 6.5 %

NASDAQ:GOGO traded up $0.50 on Thursday, hitting $8.20. 466,345 shares of the company’s stock were exchanged, compared to its average volume of 1,082,982. The firm has a 50-day moving average price of $7.74 and a 200-day moving average price of $7.56. Gogo has a 52 week low of $6.17 and a 52 week high of $11.00. The company has a debt-to-equity ratio of 11.07, a current ratio of 3.58 and a quick ratio of 2.81. The company has a market cap of $1.03 billion, a P/E ratio of 19.10 and a beta of 1.01.

Gogo (NASDAQ:GOGO) last posted its quarterly 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 business had revenue of $137.80 million during the quarter, compared to analysts’ expectations of $97.80 million. During the same quarter last year, the company posted $0.11 earnings per share. Gogo’s quarterly revenue was up 40.9% on a year-over-year basis. As a group, analysts expect that Gogo will post 0.41 EPS for the current fiscal year.

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.