Boingo Wireless Inc (NASDAQ:WIFI) was the recipient of unusually large options trading on Monday. Stock traders bought 1,044 call options on the stock. This represents an increase of approximately 1,205% compared to the average volume of 80 call options.
Boingo Wireless (WIFI) traded up $0.47 during mid-day trading on Wednesday, hitting $27.75. The company’s stock had a trading volume of 351,210 shares, compared to its average volume of 433,682. Boingo Wireless has a 1 year low of $11.96 and a 1 year high of $28.34. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.50 and a quick ratio of 0.50. The stock has a market cap of $1,128.85, a P/E ratio of -56.65 and a beta of 0.49.
WIFI has been the topic of a number of research analyst reports. Oppenheimer restated a “buy” rating and set a $30.00 price target on shares of Boingo Wireless in a report on Wednesday, November 15th. BidaskClub downgraded Boingo Wireless from a “hold” rating to a “sell” rating in a report on Tuesday, December 12th. Zacks Investment Research downgraded Boingo Wireless from a “hold” rating to a “sell” rating in a report on Saturday, January 6th. Roth Capital initiated coverage on Boingo Wireless in a report on Wednesday, January 17th. They set a “buy” rating and a $29.00 price target on the stock. Finally, Craig Hallum boosted their price target on Boingo Wireless from $28.00 to $30.00 and gave the company a “buy” rating in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $28.39.
In other news, VP Tom Tracey sold 25,000 shares of Boingo Wireless stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $25.87, for a total value of $646,750.00. Following the transaction, the vice president now owns 49,818 shares in the company, valued at $1,288,791.66. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO David Hagan sold 59,500 shares of Boingo Wireless stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $22.10, for a total value of $1,314,950.00. Following the completion of the transaction, the chief executive officer now owns 606,186 shares in the company, valued at approximately $13,396,710.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 307,519 shares of company stock worth $7,504,517. Company insiders own 7.70% of the company’s stock.
Hedge funds have recently bought and sold shares of the business. Gotham Asset Management LLC purchased a new position in shares of Boingo Wireless during the 2nd quarter worth approximately $237,000. Fox Run Management L.L.C. bought a new stake in shares of Boingo Wireless in the 4th quarter worth approximately $271,000. Acadian Asset Management LLC boosted its position in shares of Boingo Wireless by 239.3% in the 4th quarter. Acadian Asset Management LLC now owns 297,365 shares of the technology company’s stock worth $6,689,000 after purchasing an additional 209,720 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Boingo Wireless by 47.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 178,795 shares of the technology company’s stock worth $3,830,000 after purchasing an additional 57,307 shares in the last quarter. Finally, Invictus RG bought a new stake in shares of Boingo Wireless in the 3rd quarter worth approximately $338,000. Hedge funds and other institutional investors own 91.80% 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.
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