Gogo Inc (NASDAQ:GOGO) Director Robert H. Mundheim Buys 5,000 Shares

Gogo Inc (NASDAQ:GOGO) Director Robert H. Mundheim purchased 5,000 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was purchased at an average cost of $4.00 per share, with a total value of $20,000.00. Following the purchase, the director now owns 119,244 shares in the company, valued at approximately $476,976. The purchase was disclosed in a filing with the SEC, which can be accessed through this link.

Shares of NASDAQ GOGO traded down $0.02 during trading hours on Thursday, hitting $4.01. The stock had a trading volume of 36,384 shares, compared to its average volume of 1,868,774. The company has a market capitalization of $355.80 million, a P/E ratio of -2.24 and a beta of 0.97. The firm’s 50-day moving average price is $4.27 and its two-hundred day moving average price is $4.57. Gogo Inc has a 52 week low of $2.64 and a 52 week high of $7.82.

Gogo (NASDAQ:GOGO) last announced its quarterly earnings results on Thursday, August 8th. The technology company reported ($0.47) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.59) by $0.12. The firm had revenue of $213.70 million during the quarter, compared to the consensus estimate of $199.62 million. The company’s quarterly revenue was down 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.47) EPS. Equities research analysts anticipate that Gogo Inc will post -1.83 earnings per share for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Oppenheimer & Co. Inc. lifted its holdings in Gogo by 12.9% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 27,200 shares of the technology company’s stock worth $108,000 after purchasing an additional 3,100 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Gogo by 1.2% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 317,229 shares of the technology company’s stock worth $1,263,000 after purchasing an additional 3,726 shares during the last quarter. Kavar Capital Partners LLC acquired a new stake in Gogo in the 2nd quarter worth approximately $25,000. Aperio Group LLC acquired a new stake in Gogo in the 2nd quarter worth approximately $40,000. Finally, Walleye Trading Advisors LLC acquired a new stake in Gogo in the 2nd quarter worth approximately $44,000. Hedge funds and other institutional investors own 60.12% of the company’s stock.

Several equities research analysts recently commented on the company. Roth Capital assumed coverage on Gogo in a research note on Monday, May 13th. They issued a “buy” rating and a $10.00 price target for the company. Zacks Investment Research cut Gogo from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 14th. BidaskClub cut Gogo from a “hold” rating to a “sell” rating in a research note on Monday. Finally, William Blair raised Gogo from a “market perform” rating to an “outperform” rating in a research note on Friday, May 10th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $5.75.

About Gogo

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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