Gogo Inc. (NASDAQ:GOGO – Get Rating) – William Blair raised his fiscal 2022 earnings estimates for Gogo shares in a research report released Monday, August 8. William Blair analyst L. Dipalma now expects the tech company to earn $0.75 per share for the year, up from his previous forecast of $0.72. Gogo’s current annual earnings consensus estimate is $0.64 per share. William Blair also released estimates for Gogo’s fourth quarter 2022 earnings at $0.16 EPS and full year 2023 earnings at $0.88 EPS.
Separately, TheStreet upgraded Gogo’s shares from a “d” rating to a “c” rating in a Tuesday, May 17 report. One equity research analyst rated the stock with a sell rating, two assigned a hold rating and two assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $19.00.
Gogo price performance
GOGO opened at $15.88 on Tuesday. Gogo has a fifty-two week low of $11.68 and a fifty-two week high of $23.69. The company has a market capitalization of $1.78 billion, a price-earnings ratio of 7.82 and a beta of 1.08. The company’s 50-day moving average price is $17.01 and its two-hundred-day moving average price is $17.11.
Institutional entries and exits
Several institutional investors and hedge funds have been buying and selling stocks recently. Sycale Advisors NY LLC increased its stake in Gogo by 162.5% during the fourth quarter. Sycale Advisors NY LLC now owns 2,376,231 shares of the technology company worth $32,150,000 after acquiring an additional 1,470,974 shares last quarter. Lord Abbett & CO. LLC increased its stake in Gogo by 123.5% during the first quarter. Lord Abbett & CO. LLC now owns 2,359,778 shares of the technology company worth $44,977,000 after acquiring an additional 1,303,853 shares last quarter. Simcoe Capital Management LLC increased its stake in Gogo by 150.6% during the first quarter. Simcoe Capital Management LLC now owns 2,037,475 shares of the technology company worth $38,834,000 after acquiring 1,224,513 additional shares last quarter. Schonfeld Strategic Advisors LLC increased its stake in Gogo by 4.1% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 1,693,800 shares of the technology company worth $22,917,000 after acquiring an additional 66,700 shares last quarter. Finally, Capco Asset Management LLC increased its stake in Gogo by 2.3% during the second quarter. Capco Asset Management LLC now owns 1,286,829 shares of the technology company worth $20,834,000 after acquiring 29,337 additional shares in the last quarter. 71.42% of the shares are held by institutional investors.
Insiders place their bets
In other news, CAO Jessica Betjemann sold 8,000 shares of the company in a trade on Thursday, May 26. The shares were sold at an average price of $19.81, for a total value of $158,480.00. As a result of the sale, the chief accounting officer now directly owns 25,528 shares of the company, valued at approximately $505,709.68. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC’s website. In other news, Executive Vice President Marguerite M. Elias sold 30,000 shares of the company in a trade on Tuesday, May 24. The shares were sold at an average price of $18.79, for a total value of $563,700.00. Following the sale, the executive vice president now directly owns 54,791 shares of the company, valued at approximately $1,029,522.89. The transaction was disclosed in a legal filing with the SEC, which is available on the SEC’s website. Additionally, CAO Jessica Betjemann sold 8,000 shares in a trade on Thursday, May 26. The stock was sold at an average price of $19.81, for a total transaction of $158,480.00. As a result of the transaction, the chief accounting officer now directly owns 25,528 shares of the company, valued at $505,709.68. The disclosure of this sale can be found here. Insiders hold 32.55% of the shares of the company.
Gogo Company Profile
(Get a rating)
Gogo Inc, through its subsidiaries, provides broadband connectivity services to the aviation industry in the United States and around the world. It operates through Commercial Aviation North America (CA-NA), Commercial Aviation Rest of World (CA-ROW) and Business Aviation (BA) segments. The company designs, builds and operates air-to-ground networks, designs and maintains proprietary hardware and software in-flight systems, and provides customizable wireless connectivity and entertainment services.
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