Aperio Group LLC acquired a new position in Boingo Wireless, Inc. (NASDAQ:WIFI) in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 10,964 shares of the technology company’s stock, valued at approximately $164,000.
Other hedge funds have also modified their holdings of the company. Virginia Retirement Systems ET AL bought a new position in Boingo Wireless in the 1st quarter worth approximately $134,000. Cambria Investment Management L.P. bought a new position in Boingo Wireless in the 1st quarter worth approximately $136,000. UBS Asset Management Americas Inc. bought a new position in Boingo Wireless in the 1st quarter worth approximately $159,000. Stifel Financial Corp boosted its stake in Boingo Wireless by 3.7% during the 1st quarter. Stifel Financial Corp now owns 15,778 shares of the technology company’s stock valued at $205,000 after purchasing an additional 559 shares in the last quarter. Finally, American International Group Inc. boosted its stake in Boingo Wireless by 7.1% during the 1st quarter. American International Group Inc. now owns 21,925 shares of the technology company’s stock valued at $285,000 after purchasing an additional 1,444 shares in the last quarter. 89.08% of the stock is owned by institutional investors and hedge funds.
Shares of Boingo Wireless, Inc. (NASDAQ:WIFI) opened at 20.69 on Friday. The stock’s market cap is $829.86 million. Boingo Wireless, Inc. has a 12-month low of $9.27 and a 12-month high of $22.00. The stock has a 50 day moving average price of $19.63 and a 200-day moving average price of $15.85.
Boingo Wireless (NASDAQ:WIFI) last announced its quarterly earnings results on Thursday, August 3rd. The technology company reported ($0.20) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.03). The firm had revenue of $49.00 million for the quarter, compared to the consensus estimate of $46.23 million. Boingo Wireless had a negative return on equity of 25.82% and a negative net margin of 13.85%. The company’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.19) earnings per share. Equities analysts anticipate that Boingo Wireless, Inc. will post ($0.64) EPS for the current fiscal year.
In related news, Director Michael Finley sold 14,493 shares of the business’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $18.08, for a total value of $262,033.44. Following the sale, the director now directly owns 60,498 shares of the company’s stock, valued at approximately $1,093,803.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David Hagan sold 75,000 shares of the business’s stock in a transaction on Friday, July 7th. The shares were sold at an average price of $14.59, for a total transaction of $1,094,250.00. Following the completion of the sale, the chief executive officer now directly owns 621,853 shares in the company, valued at $9,072,835.27. The disclosure for this sale can be found here. Insiders sold a total of 895,778 shares of company stock worth $14,767,749 over the last ninety days. 7.70% of the stock is currently owned by insiders.
A number of brokerages have issued reports on WIFI. Craig Hallum increased their price target on Boingo Wireless from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Tuesday, September 5th. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $24.00 price target (up from $18.00) on shares of Boingo Wireless in a research note on Wednesday, August 9th. Jefferies Group LLC reaffirmed a “buy” rating and set a $20.00 price target (up from $17.00) on shares of Boingo Wireless in a research note on Wednesday, August 9th. ValuEngine upgraded Boingo Wireless from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Ladenburg Thalmann Financial Services increased their price objective on Boingo Wireless from $16.85 to $18.50 and gave the company a “buy” rating in a research report on Thursday, May 25th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $18.37.
Boingo Wireless Profile
Boingo Wireless, Inc is a provider of commercial mobile wireless fidelity (Wi-Fi) Internet solutions and indoor direct-attached storage (DAS) services. The Company operates as a service provider of wireless connectivity solutions across its managed and operated network and aggregated network for mobile devices such as laptops, smartphones, tablets and other wireless-enabled consumer devices.
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