Increased Call Options Activity for Gogo Inc. (NASDAQ:GOGO)

Gogo Inc. (NASDAQ:GOGO) recently saw a significant increase in unusual options trading activity. On Wednesday, investors purchased a total of 17,012 call options for the stock. This figure represents an astonishing rise of approximately 1,049% compared to the average daily volume of 1,480 call options normally traded.

Institutional Investors Show Interest in Gogo

Several institutional investors and hedge funds have made recent transactions involving Gogo shares. Notably, UBS Asset Management Americas LLC increased its stake in Gogo by 0.8% in the third quarter, acquiring an additional 1,714 shares and bringing its total to 208,356 shares, valued at $1,496,000. Similarly, Charles Schwab Investment Management Inc. raised its holdings by 0.6%, now owning 557,732 shares worth $4,005,000 after purchasing 3,181 additional shares. Texas Permanent School Fund Corp also increased its Gogo position by 7.2% in the second quarter, now holding 57,452 shares valued at $553,000. Another institutional player, nVerses Capital LLC, recently initiated a new position in Gogo, worth around $34,000. Additionally, Public Sector Pension Investment Board boosted its stake by 4.6%, adding 5,869 shares to reach a total of 134,206 shares valued at $1,291,000. These transactions indicate that 69.60% of Gogo's stock is now owned by institutional investors and hedge funds, highlighting strong institutional interest in the company.

Analysts Provide New Price Targets for Gogo

Research firms have begun adjusting their price targets for Gogo stock. Roth Mkm recently reaffirmed a “buy” rating and set a price target of $15.50. In contrast, Morgan Stanley revised its target price downward from $12.00 to $11.00, maintaining an “equal weight” rating for the stock.

Stock Performance Overview

As of Thursday, Gogo’s shares opened at $7.92. The company demonstrates a quick ratio of 2.81, a current ratio of 3.58, and a debt-to-equity ratio of 11.07. Over the past year, Gogo has reached a low point of $6.17 and a high of $11.17. Its 50-day moving average stands at $7.55, while the 200-day average is $8.09. Gogo currently boasts a market capitalization of $996.17 million, a P/E ratio of 18.42, and a beta of 1.18, which suggests a moderate level of volatility compared to the market.

About Gogo

Gogo Inc. and its subsidiaries provide broadband connectivity services tailored for the aviation sector, both in the United States and internationally. The company offers a range of products including networks, antennas, airborne equipment, and software, in addition to in-flight systems, services, support for aviation partners, engineering, design, and development services.

Gogo, Options, Investors