Boingo Wireless (WIFI) Sets New 52-Week High at $28.16

Boingo Wireless Inc (NASDAQ:WIFI) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $28.16 and last traded at $28.22, with a volume of 168760 shares trading hands. The stock had previously closed at $27.46.

A number of research analysts have issued reports on WIFI shares. Credit Suisse Group reiterated an “outperform” rating and set a $32.00 price objective (up previously from $27.00) on shares of Boingo Wireless in a research note on Wednesday, February 28th. Jefferies Group lifted their price objective on Boingo Wireless to $32.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Roth Capital started coverage on Boingo Wireless in a research note on Wednesday, January 17th. They set a “buy” rating and a $29.00 price objective for the company. BidaskClub cut Boingo Wireless from a “hold” rating to a “sell” rating in a research note on Thursday, January 4th. Finally, Oppenheimer reiterated a “buy” rating and set a $30.00 price objective on shares of Boingo Wireless in a research note on Wednesday, November 15th. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Boingo Wireless presently has an average rating of “Buy” and an average target price of $28.39.

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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 $1,130.00, a P/E ratio of -56.41 and a beta of 0.49.

In other news, insider Dawn Callahan sold 11,437 shares of the business’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $22.85, for a total value of $261,335.45. Following the completion of the transaction, the insider now owns 11,370 shares in the company, valued at $259,804.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Peter Hovenier sold 50,000 shares of the business’s stock in a transaction on Thursday, March 8th. The stock was sold at an average price of $27.60, for a total value of $1,380,000.00. Following the completion of the transaction, the chief financial officer now owns 31,730 shares of the company’s stock, valued at approximately $875,748. The disclosure for this sale can be found here. Insiders sold 295,103 shares of company stock valued at $7,097,730 in the last 90 days. Company insiders own 7.70% of the company’s stock.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of Boingo Wireless by 4.0% in the fourth quarter. BlackRock Inc. now owns 3,755,061 shares of the technology company’s stock worth $84,487,000 after purchasing an additional 144,367 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Boingo Wireless by 15.2% in the fourth quarter. Renaissance Technologies LLC now owns 3,001,000 shares of the technology company’s stock worth $67,523,000 after purchasing an additional 395,200 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of Boingo Wireless by 19.0% in the second quarter. Vanguard Group Inc. now owns 2,042,944 shares of the technology company’s stock worth $30,563,000 after purchasing an additional 326,791 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of 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 purchasing an additional 42,749 shares during the last quarter. Finally, Hood River Capital Management LLC increased its position in Boingo Wireless by 8.4% during the fourth quarter. Hood River Capital Management LLC now owns 1,155,233 shares of the technology company’s stock valued at $25,993,000 after acquiring an additional 89,465 shares during the last quarter. Hedge funds and other institutional investors own 92.32% of the company’s stock.

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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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