Gogo spikes after CEO, director disclose purchases

Gogo (GOGO +4.8%) CEO Michael Small bought 30K shares on Wednesday at $12.96. Director Charles Townsend bought 60K shares on Wednesday at $12.84, and another 100K on Thursday at $12.96.

The purchases come after the in-flight Wi-Fi provider's shares fell over 60% from a December high of $35.77, thanks largely to a momentum stock selloff and worries about AT&T's plans to offer a rival service.

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Comments (6)
  • mstar991
    , contributor
    Comments (76) | Send Message
    16 May 2014, 12:26 PM Reply Like
  • Vinoboy58
    , contributor
    Comments (2) | Send Message
    Is it possible that AT&T buys GOGO to gain immediate entry into the market and gain market share? That's what they are trying to do with DirecTV.
    16 May 2014, 01:15 PM Reply Like
  • myke175
    , contributor
    Comments (30) | Send Message
    If the price is right $GOGO will sell to $T rather then go down to Bankruptcy... for time being I am long GOGO.
    16 May 2014, 01:37 PM Reply Like
  • Tedhoffman
    , contributor
    Comments (15) | Send Message
    Gogo CEO Small was involved in the sale of Centennial (he was the CEO of Centennial comm.) to AT&T in 2008 for nearly 1 billion $. Interesting speculation...
    16 May 2014, 01:38 PM Reply Like
  • quanius
    , contributor
    Comments (27) | Send Message
    This is how I think it went down.


    AT&T offered GOGO a low ball buyout deal months ago and said if you don't take it, we'll announce market entry with Honeywell and watch your stock tank then make a lower offer. GOGO told them to go screw and come back with an offer north of $60 a share. Nice to see the GOGO insiders taking some action on this.


    Also enjoyed hearing that the FCC denied AT&T access to the upcoming spectrum auction which might possibly raise the need for acquisitions like GOGO.


    With ATG-4 coming online with many more aircraft, the service should become palatable until GTO gets moving and help ramp up revenue growth for the next earnings calls.


    I am still looking for validation on the Soros 350K share buy. Anyone?
    16 May 2014, 02:26 PM Reply Like
  • myke175
    , contributor
    Comments (30) | Send Message
    That is awesome speculation... Hope it pans out
    16 May 2014, 02:37 PM Reply Like
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