Insider Selling: Boingo Wireless, Inc. (NASDAQ:WIFI) CFO Sells 25,000 Shares of Stock

Boingo Wireless, Inc. (NASDAQ:WIFI) CFO Peter Hovenier sold 25,000 shares of the firm’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $20.19, for a total value of $504,750.00. Following the transaction, the chief financial officer now owns 8,551 shares of the company’s stock, valued at $172,644.69. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Peter Hovenier also recently made the following trade(s):

  • On Tuesday, August 29th, Peter Hovenier sold 35,233 shares of Boingo Wireless stock. The stock was sold at an average price of $20.27, for a total value of $714,172.91.
  • On Thursday, June 1st, Peter Hovenier sold 33,349 shares of Boingo Wireless stock. The shares were sold at an average price of $16.27, for a total value of $542,588.23.

Boingo Wireless, Inc. (NASDAQ:WIFI) traded up 1.18% during mid-day trading on Friday, reaching $21.39. The company’s stock had a trading volume of 601,467 shares. The company’s market cap is $857.93 million. Boingo Wireless, Inc. has a 12-month low of $9.00 and a 12-month high of $22.00. The firm’s 50 day moving average is $19.24 and its 200-day moving average is $15.64.

Boingo Wireless (NASDAQ:WIFI) last released its earnings results on Thursday, August 3rd. The technology company reported ($0.20) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by ($0.03). Boingo Wireless had a negative return on equity of 25.82% and a negative net margin of 13.85%. The business had revenue of $49.00 million for the quarter, compared to analyst estimates of $46.23 million. During the same quarter in the previous year, the firm posted ($0.19) EPS. The business’s revenue for the quarter was up 25.3% on a year-over-year basis. Equities analysts anticipate that Boingo Wireless, Inc. will post ($0.64) earnings per share for the current fiscal year.

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A number of equities research analysts have issued reports on the company. Craig Hallum boosted 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 objective (up from $18.00) on shares of Boingo Wireless in a research report on Wednesday, August 9th. Jefferies Group LLC reaffirmed a “buy” rating and set a $20.00 price objective (up from $17.00) on shares of Boingo Wireless in a research report on Wednesday, August 9th. ValuEngine raised Boingo Wireless from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Ladenburg Thalmann Financial Services lifted 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 research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $18.37.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc grew its holdings in shares of Boingo Wireless by 3.9% in the 2nd quarter. Legal & General Group Plc now owns 9,149 shares of the technology company’s stock worth $137,000 after acquiring an additional 341 shares during the period. Virginia Retirement Systems ET AL acquired a new stake in shares of Boingo Wireless in the 1st quarter worth approximately $134,000. Royal Bank of Canada grew its holdings in shares of Boingo Wireless by 1.3% in the 2nd quarter. Royal Bank of Canada now owns 10,448 shares of the technology company’s stock worth $156,000 after acquiring an additional 135 shares during the period. Cambria Investment Management L.P. acquired a new stake in shares of Boingo Wireless in the 1st quarter worth approximately $136,000. Finally, American Century Companies Inc. acquired a new stake in shares of Boingo Wireless in the 2nd quarter worth approximately $164,000. Institutional investors and hedge funds own 89.08% of the company’s stock.

Boingo Wireless Company 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.

Insider Buying and Selling by Quarter for Boingo Wireless (NASDAQ:WIFI)

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