Why Gogo (GOGO) Stock Is Up Today

NEW YORK (TheStreet) -- Gogo (GOGO) was gaining 3.5% to $13.44 Friday after the company's CEO and chairman disclosed large share purchases.

Gogo CEO Michael Small disclosed a 30,000 share purchase at $12.96 a share Friday morning. Soon after, company chairman Ronald T. LeMay disclosed a 100,000 share purchase at the same $12.96 a share price. The two purchases helped drive up the price of the stock.

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"Gogo Inc is a holding company. The Company operates through its two operating subsidiaries, Gogo LLC and Aircell Business Aviation Services LLC. The Company provides in-flight connectivity and wireless in-cabin digital entertainment solutions. It provide turnkey solutions for passengers to extend their connected lifestyles to the aircraft cabin. It operates in two segments: commercial aviation (CA) and business aviation (BA). Its CA business provides in-flight connectivity and digital entertainment solutions to commercial airline passengers through their personal Wi-Fi enabled devices.The Company's BA segment sells equipment and provides services for in-flight Internet connectivity and other voice and data communications under its Gogo Biz and Aircell branded products and services. Effective March 6, 2014, SAC Capital Advisors LLC acquired a 5.4% interest in Gogo Inc."

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Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

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