First Quadrant L P CA boosted its holdings in Boingo Wireless, Inc. (NASDAQ:WIFI) by 2,460.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 38,708 shares of the technology company’s stock after acquiring an additional 37,196 shares during the quarter. First Quadrant L P CA owned 0.10% of Boingo Wireless worth $827,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Legal & General Group Plc grew its stake in Boingo Wireless by 3.9% during the second quarter. Legal & General Group Plc now owns 9,149 shares of the technology company’s stock worth $137,000 after buying an additional 341 shares during the last quarter. Royal Bank of Canada lifted its position in shares of Boingo Wireless by 1.3% during the second quarter. Royal Bank of Canada now owns 10,448 shares of the technology company’s stock worth $156,000 after purchasing an additional 135 shares in the last quarter. UBS Asset Management Americas Inc. acquired a new position in shares of Boingo Wireless during the first quarter worth approximately $159,000. Aperio Group LLC acquired a new position in shares of Boingo Wireless during the second quarter worth approximately $164,000. Finally, American Century Companies Inc. acquired a new position in shares of Boingo Wireless during the second quarter worth approximately $164,000. 86.58% of the stock is currently owned by institutional investors and hedge funds.
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Several brokerages recently weighed in on WIFI. Oppenheimer Holdings, Inc. increased their price objective on shares of Boingo Wireless and gave the company an “outperform” rating in a report on Friday, November 3rd. Jefferies Group LLC increased their price objective on shares of Boingo Wireless from $20.00 to $27.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. Credit Suisse Group raised their target price on shares of Boingo Wireless from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, November 3rd. Zacks Investment Research downgraded shares of Boingo Wireless from a “buy” rating to a “hold” rating in a research report on Wednesday, November 8th. Finally, Craig Hallum raised their target price on shares of Boingo Wireless from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $21.37.
In other news, VP Tom Tracey sold 10,000 shares of the company’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $20.45, for a total value of $204,500.00. Following the completion of the sale, the vice president now owns 34,868 shares in the company, valued at approximately $713,050.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Peter Hovenier sold 18,552 shares of the stock in a transaction dated Thursday, September 14th. The shares were sold at an average price of $21.31, for a total transaction of $395,343.12. The disclosure for this sale can be found here. Insiders have sold a total of 146,285 shares of company stock worth $3,003,816 in the last quarter. 7.70% of the stock is owned by corporate insiders.
Boingo Wireless, Inc. (WIFI) opened at $22.37 on Monday. The company has a quick ratio of 0.50, a current ratio of 0.50 and a debt-to-equity ratio of 0.09. Boingo Wireless, Inc. has a 1-year low of $10.46 and a 1-year high of $25.99.
Boingo Wireless (NASDAQ:WIFI) last announced its quarterly earnings results on Thursday, November 2nd. The technology company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.04. The company had revenue of $53.66 million for the quarter, compared to analyst estimates of $50.22 million. Boingo Wireless had a negative net margin of 11.75% and a negative return on equity of 23.62%. The firm’s revenue was up 31.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.15) EPS. research analysts expect that Boingo Wireless, Inc. will post -0.59 EPS for the current year.
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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