Gogo Inc. (GOGO) Lowered to Sell at ValuEngine

ValuEngine downgraded shares of Gogo Inc. (NASDAQ:GOGO) from a hold rating to a sell rating in a research note released on Thursday.

Other equities analysts also recently issued research reports about the stock. BidaskClub raised shares of Gogo from a hold rating to a buy rating in a research note on Saturday, August 5th. Guggenheim reissued a buy rating and issued a $16.00 target price on shares of Gogo in a research note on Monday, October 9th. Zacks Investment Research raised shares of Gogo from a strong sell rating to a hold rating in a research note on Tuesday, October 24th. Finally, Standpoint Research downgraded shares of Gogo from a buy rating to a hold rating in a research note on Friday, August 4th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Hold and an average target price of $14.35.

Gogo (GOGO) traded down $0.20 during trading hours on Thursday, reaching $8.75. 3,271,757 shares of the company’s stock were exchanged, compared to its average volume of 1,433,969. The company has a debt-to-equity ratio of -7.56, a quick ratio of 1.82 and a current ratio of 2.01.

Gogo (NASDAQ:GOGO) last posted its quarterly earnings results on Thursday, November 2nd. The technology company reported ($0.57) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.51) by ($0.06). The business had revenue of $172.87 million for the quarter, compared to the consensus estimate of $172.92 million. The firm’s revenue for the quarter was up 17.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.42) earnings per share. equities analysts expect that Gogo will post -2.06 EPS for the current year.

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Hedge funds have recently modified their holdings of the company. Principal Financial Group Inc. acquired a new stake in Gogo during the 1st quarter valued at $114,000. Parkwood LLC grew its holdings in Gogo by 16.2% during the 2nd quarter. Parkwood LLC now owns 12,888 shares of the technology company’s stock valued at $149,000 after purchasing an additional 1,799 shares in the last quarter. Verition Fund Management LLC grew its holdings in Gogo by 37.3% during the 2nd quarter. Verition Fund Management LLC now owns 14,599 shares of the technology company’s stock valued at $168,000 after purchasing an additional 3,963 shares in the last quarter. Legal & General Group Plc grew its holdings in Gogo by 12.3% during the 1st quarter. Legal & General Group Plc now owns 14,770 shares of the technology company’s stock valued at $163,000 after purchasing an additional 1,612 shares in the last quarter. Finally, National Asset Management Inc. acquired a new stake in Gogo during the 2nd quarter valued at $172,000. 66.60% of the stock is currently owned by institutional investors and hedge funds.

Gogo Company Profile

Gogo Inc is a holding company. The Company is a provider of in-flight broadband connectivity and connectivity-enabled services to commercial and business aviation. The Company 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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