Gogo Inc (GOGO) Given Consensus Rating of “Hold” by Brokerages
Gogo Inc (NASDAQ:GOGO) has earned a consensus recommendation of “Hold” from the ten brokerages that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $8.38.
GOGO has been the subject of a number of analyst reports. BidaskClub raised Gogo from a “hold” rating to a “buy” rating in a report on Saturday, October 6th. Raymond James lowered Gogo from an “outperform” rating to a “market perform” rating and set a $15.00 price objective for the company. in a research report on Tuesday, July 24th. Zacks Investment Research lowered Gogo from a “hold” rating to a “sell” rating in a research report on Wednesday, July 11th. ValuEngine lowered Gogo from a “hold” rating to a “sell” rating in a research report on Monday, July 2nd. Finally, William Blair cut Gogo from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 17th.
GOGO stock traded up $0.11 during midday trading on Friday, hitting $6.33. The stock had a trading volume of 1,406,489 shares, compared to its average volume of 1,702,087. The stock has a market cap of $552.93 million, a P/E ratio of -2.92 and a beta of 1.14. Gogo has a 52 week low of $3.52 and a 52 week high of $11.75.
Several large investors have recently added to or reduced their stakes in GOGO. CIBC Private Wealth Group LLC increased its position in shares of Gogo by 57.1% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 55,000 shares of the technology company’s stock worth $267,000 after purchasing an additional 20,000 shares during the last quarter. HighPoint Advisor Group LLC bought a new position in Gogo in the second quarter worth approximately $109,000. Northern Trust Corp boosted its holdings in Gogo by 4.4% in the second quarter. Northern Trust Corp now owns 701,785 shares of the technology company’s stock worth $3,410,000 after acquiring an additional 29,843 shares in the last quarter. Engineers Gate Manager LP boosted its holdings in Gogo by 34.8% in the second quarter. Engineers Gate Manager LP now owns 132,288 shares of the technology company’s stock worth $643,000 after acquiring an additional 34,147 shares in the last quarter. Finally, Arthur M. Cohen & Associates LLC boosted its holdings in Gogo by 52.8% in the second quarter. Arthur M. Cohen & Associates LLC now owns 159,161 shares of the technology company’s stock worth $774,000 after acquiring an additional 55,000 shares in the last quarter. Institutional investors and hedge funds own 67.63% of the company’s stock.
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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