OLD National Bancorp IN Sheds 13,672 Shares of Gogo
July 6, 2023
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OLD National Bancorp recently disposed of 13,672 of its Gogo Inc ($NASDAQ:GOGO). shares at Defense World. Gogo Inc. is a leading global provider of in-flight connectivity and internet services, serving commercial and business aviation, airlines, and other mobility markets. Their mission is to provide passengers with the world’s best in-flight connectivity experience, which has enabled them to become one of the world’s leading in-flight internet and entertainment providers. Gogo Inc.’s products and services for commercial airlines include their Gogo Biz high-speed internet service, Gogo Vision streaming video service, and Gogo Text & Talk messaging service. Their business aviation products and services include their Gogo Business Aviation internet service, Gogo Vision streaming video service, and Gogo Text & Talk messaging service.
Additionally, they are the leading provider of satellite-based inflight Wi-Fi services to airlines for international flights. The recent decision by OLD National Bancorp to shed its 13,672 shares of Gogo Inc. may be reflective of its belief that this stock may not be a good long-term investment. Despite this decision, Gogo Inc. continues to innovate and grow, positioning itself for further growth in the coming years.
Stock Price
This comes after the stock opened at $16.7 and closed at $16.6, representing a 2.3% decrease from the previous closing price of $16.9. The decrease in shares signals a shift in investor sentiment towards the company and could remain a cause for concern going forward. It will be interesting to observe if the stock price is able to recover in the days ahead. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Gogo Inc. More…
| Total Revenues | Net Income | Net Margin |
| 409.91 | 90.42 | 22.0% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Gogo Inc. More…
| Operations | Investing | Financing |
| 104.05 | -59.8 | -33.95 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Gogo Inc. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 759.24 | 847.38 | -0.69 |
Key Ratios Snapshot
Some of the financial key ratios for Gogo Inc are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| -20.7% | 89.1% | 36.5% |
| FCF Margin | ROE | ROA |
| 14.3% | -98.4% | 12.3% |
Analysis
At GoodWhale, we recently conducted an in-depth analysis of GOGO INC‘s fundamentals. Our findings revealed that GOGO INC is a medium risk investment in terms of financial and business aspects. Our Risk Rating system examines multiple factors such as income sheet, balance sheet, cash flow statement and more. We also identified two potential risk warnings when it comes to GOGO INC’s income sheet and balance sheet. If you want to have a better understanding of these findings, make sure to register on goodwhale.com. There you will find more detailed information about GOGO INC’s performance and risk factors. More…
Peers
The company offers in-flight connectivity and Internet services to commercial and business aviation markets. The company operates in three segments: Commercial Aviation, Business Aviation, and Commercial Aviation International. Gogo serves more than 2,000 commercial aircraft and 6,600 business aircraft worldwide. The company has a strong competitive position in the commercial aviation market with a market share of approximately 65%. The company’s main competitors in this market are Voice Mobility International Inc, ATN International Inc, and Intelsat SA.
– Voice Mobility International Inc ($TSXV:VMY.H)
Voice Mobility International Inc is a telecommunications company that provides VoIP and hosted PBX services to businesses and residential customers in Canada and the United States. The company has a market cap of 104.86k as of 2022 and a Return on Equity of 0.39%. The company’s VoIP services allow customers to make calls over the internet using a broadband connection instead of a traditional phone line. The company’s hosted PBX service provides a cloud-based phone system for businesses. The company’s services are designed to save customers money on their monthly phone bills.
– ATN International Inc ($NASDAQ:ATNI)
ATN International, Inc. is a holding company. The Company, through its subsidiaries, provides wireless and wireline voice, broadband data, and video services in the United States, Bermuda, Canada, the Caribbean, Europe, and India. It operates through four segments: ATN Canada, ION Media Networks, Reserve Power Group, and All Other Segments.
Summary
Gogo Inc. (GOGO) has recently seen decreased investment from OLD National Bancorp, which sold 13,672 of its shares in the company. Despite this decrease in interest, analysts believe that Gogo still offers potential for investors. Gogo, which provides in-flight connectivity services for airlines, has experienced a large increase in its stock price due to the growing demand for in-flight Wi-Fi.
With the growing popularity of streaming services and the availability of internet connectivity on airplanes, Gogo’s services have become increasingly popular and lucrative. Furthermore, Gogo has recently acquired an additional partner, allowing it to expand its customer base and increase its profit potential. With these advantages in mind, analysts believe that Gogo’s stock price has significant upside potential and recommend investing in the company for those seeking long-term growth.
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