Investors Purchase High Volume of Gogo Call Options (NASDAQ:GOGO)

Gogo Inc. (NASDAQ:GOGO) was the target of some unusual options trading on Thursday. Traders purchased 20,208 call options on the company. This represents an increase of approximately 1,120% compared to the average daily volume of 1,657 call options.

Institutional Trading of Gogo

A number of hedge funds have recently made changes to their positions in GOGO. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Gogo by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,863 shares of the technology company’s stock valued at $298,000 after buying an additional 1,273 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in Gogo by 0.6% in the fourth quarter. Nuveen Asset Management LLC now owns 223,317 shares of the technology company’s stock valued at $1,807,000 after acquiring an additional 1,373 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Gogo by 0.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 208,356 shares of the technology company’s stock valued at $1,496,000 after acquiring an additional 1,714 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Gogo by 0.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 557,732 shares of the technology company’s stock worth $4,005,000 after acquiring an additional 3,181 shares in the last quarter. Finally, nVerses Capital LLC bought a new stake in shares of Gogo in the 3rd quarter worth about $34,000. Hedge funds and other institutional investors own 69.60% of the company’s stock.

Gogo Stock Performance

Shares of NASDAQ:GOGO opened at $7.88 on Friday. The business’s 50-day simple moving average is $7.98 and its 200 day simple moving average is $7.62. The company has a market cap of $991.14 million, a P/E ratio of 18.33 and a beta of 1.13. The company has a debt-to-equity ratio of 11.07, a quick ratio of 2.81 and a current ratio of 3.58. Gogo has a one year low of $6.17 and a one year high of $11.00.

Gogo Company Profile

Gogo Inc, together with its subsidiaries, provides broadband connectivity services to the aviation industry in the United States and internationally. The company's product platform includes networks, antennas, and airborne equipment and software. It offers in-flight systems; in-flight services; aviation partner support; and engineering, design, and development services, as well as production operations functions.