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Shares of
aviation communications providerGogo Inc GOGO were trading down nearly 20 percent
month-over-month Wednesday morning and experienced an insider purchase by director Charles Townsend.
- Director Townsend purchased 300,000 shares for an average price of $9.69/share, bringing his total holdings to 654,267 shares ($6,019,256 at current market value).
Insider transactions can be an indication of where company management or large holders expect a company’s share price to go.
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