Allianz Asset Management GmbH Sells 165,892 Shares of Boingo Wireless Inc (WIFI)

Allianz Asset Management GmbH reduced its position in Boingo Wireless Inc (NASDAQ:WIFI) by 29.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 399,711 shares of the technology company’s stock after selling 165,892 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.98% of Boingo Wireless worth $8,542,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in the business. Nicholas Investment Partners LP increased its position in Boingo Wireless by 76.1% in the third quarter. Nicholas Investment Partners LP now owns 195,422 shares of the technology company’s stock worth $4,176,000 after buying an additional 84,433 shares during the last quarter. Invictus RG purchased a new stake in Boingo Wireless in the third quarter worth $338,000. OxFORD Asset Management LLP purchased a new stake in Boingo Wireless in the third quarter worth $872,000. Dimensional Fund Advisors LP increased its position in Boingo Wireless by 2.2% in the third quarter. Dimensional Fund Advisors LP now owns 1,995,174 shares of the technology company’s stock worth $42,638,000 after buying an additional 42,749 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. increased its position in Boingo Wireless by 191.7% in the third quarter. Schwab Charles Investment Management Inc. now owns 184,041 shares of the technology company’s stock worth $3,933,000 after buying an additional 120,941 shares during the last quarter. 89.96% of the stock is owned by institutional investors and hedge funds.

In related news, CFO Peter Hovenier sold 10,000 shares of the business’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $23.75, for a total transaction of $237,500.00. Following the completion of the transaction, the chief financial officer now directly owns 10,000 shares in the company, valued at $237,500. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Dawn Callahan sold 25,000 shares of the business’s stock in a transaction dated Tuesday, November 28th. The stock was sold at an average price of $25.10, for a total value of $627,500.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 96,437 shares of company stock valued at $2,317,085. 7.70% of the stock is owned by company insiders.

Boingo Wireless Inc (NASDAQ:WIFI) opened at $23.09 on Monday. Boingo Wireless Inc has a 52-week low of $10.46 and a 52-week high of $25.99. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.50 and a quick ratio of 0.50.

Boingo Wireless (NASDAQ:WIFI) last posted its earnings results on Thursday, November 2nd. The technology company reported ($0.09) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.04. Boingo Wireless had a negative return on equity of 23.62% and a negative net margin of 11.75%. The business had revenue of $53.66 million during the quarter, compared to analysts’ expectations of $50.22 million. During the same period in the previous year, the business earned ($0.15) earnings per share. The firm’s revenue was up 31.5% on a year-over-year basis. equities analysts anticipate that Boingo Wireless Inc will post -0.58 earnings per share for the current fiscal year.

Several equities analysts have recently weighed in on WIFI shares. Credit Suisse Group lifted their price target on 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 upgraded Boingo Wireless from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Thursday, October 5th. Craig Hallum lifted their price target on Boingo Wireless from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Jefferies Group lifted their price target on Boingo Wireless from $20.00 to $27.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Finally, Oppenheimer reiterated a “buy” rating and issued a $30.00 price target on shares of Boingo Wireless in a research report on Wednesday, November 15th. Two 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. Boingo Wireless presently has a consensus rating of “Hold” and an average target price of $22.04.

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About Boingo Wireless

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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Institutional Ownership by Quarter for Boingo Wireless (NASDAQ:WIFI)

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