JPMorgan Chase & Co. downgraded shares of Gogo (NASDAQ:GOGO) from an overweight rating to a neutral rating in a report issued on Friday morning, Marketbeat Ratings reports.
GOGO has been the topic of several other reports. BidaskClub downgraded shares of Gogo from a sell rating to a strong sell rating in a research note on Tuesday, January 16th. ValuEngine raised shares of Gogo from a sell rating to a hold rating in a research note on Sunday, December 31st. Zacks Investment Research raised shares of Gogo from a sell rating to a hold rating in a research note on Tuesday, December 26th. Finally, William Blair reaffirmed a buy rating on shares of Gogo in a research note on Thursday, February 15th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. Gogo presently has an average rating of Hold and an average price target of $14.20.
Gogo (GOGO) opened at $8.88 on Friday. Gogo has a one year low of $8.52 and a one year high of $14.76. The company has a current ratio of 1.87, a quick ratio of 1.73 and a debt-to-equity ratio of -5.22.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Millennium Management LLC purchased a new position in shares of Gogo in the fourth quarter worth $115,000. FNY Managed Accounts LLC purchased a new position in shares of Gogo in the fourth quarter worth $125,000. Pinnacle Associates Ltd. purchased a new position in shares of Gogo in the fourth quarter worth $127,000. HighPoint Advisor Group LLC purchased a new position in shares of Gogo in the fourth quarter worth $115,000. Finally, Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Gogo by 135.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 14,101 shares of the technology company’s stock worth $159,000 after buying an additional 8,100 shares during the period. 74.23% of the stock is currently owned by institutional investors.
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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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