Boingo Wireless Inc (WIFI) Stake Decreased by NJ State Employees Deferred Compensation Plan

NJ State Employees Deferred Compensation Plan decreased its holdings in Boingo Wireless Inc (NASDAQ:WIFI) by 50.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,000 shares of the technology company’s stock after selling 21,000 shares during the quarter. NJ State Employees Deferred Compensation Plan’s holdings in Boingo Wireless were worth $733,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of WIFI. Schwab Charles Investment Management Inc. boosted its position in shares of Boingo Wireless by 7.9% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 207,494 shares of the technology company’s stock worth $5,140,000 after purchasing an additional 15,144 shares in the last quarter. Northern Trust Corp boosted its position in shares of Boingo Wireless by 4.1% in the 1st quarter. Northern Trust Corp now owns 496,834 shares of the technology company’s stock worth $12,306,000 after purchasing an additional 19,356 shares in the last quarter. JPMorgan Chase & Co. boosted its position in shares of Boingo Wireless by 26.3% in the 1st quarter. JPMorgan Chase & Co. now owns 97,487 shares of the technology company’s stock worth $2,415,000 after purchasing an additional 20,298 shares in the last quarter. New York State Common Retirement Fund boosted its position in shares of Boingo Wireless by 19.9% in the 1st quarter. New York State Common Retirement Fund now owns 100,123 shares of the technology company’s stock worth $2,480,000 after purchasing an additional 16,636 shares in the last quarter. Finally, Sei Investments Co. acquired a new stake in shares of Boingo Wireless in the 1st quarter worth $290,000. 95.69% of the stock is owned by hedge funds and other institutional investors.

WIFI has been the subject of a number of research analyst reports. Zacks Investment Research lowered Boingo Wireless from a “buy” rating to a “hold” rating in a research note on Saturday, September 1st. Craig Hallum raised their target price on Boingo Wireless from $31.00 to $38.00 and gave the stock a “buy” rating in a research note on Friday, September 7th. BidaskClub lowered Boingo Wireless from a “strong-buy” rating to a “buy” rating in a research note on Saturday, September 22nd. Finally, Oppenheimer raised their target price on Boingo Wireless from $30.00 to $39.00 and gave the stock an “outperform” rating in a research note on Friday, September 21st. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Boingo Wireless currently has an average rating of “Buy” and an average price target of $35.75.

In other Boingo Wireless news, CEO David Hagan sold 30,000 shares of Boingo Wireless stock in a transaction dated Friday, October 12th. The stock was sold at an average price of $30.56, for a total transaction of $916,800.00. Following the completion of the transaction, the chief executive officer now owns 522,314 shares in the company, valued at approximately $15,961,915.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Peter Hovenier sold 4,461 shares of Boingo Wireless stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $33.51, for a total value of $149,488.11. Following the transaction, the chief financial officer now owns 22,200 shares of the company’s stock, valued at approximately $743,922. The disclosure for this sale can be found here. Insiders sold a total of 279,865 shares of company stock valued at $8,943,560 in the last 90 days. 3.80% of the stock is currently owned by company insiders.

WIFI stock traded up $0.15 during midday trading on Tuesday, reaching $31.68. The stock had a trading volume of 2,154 shares, compared to its average volume of 470,703. The firm has a market capitalization of $1.48 billion, a price-to-earnings ratio of -64.47 and a beta of 0.60. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.43 and a quick ratio of 0.43. Boingo Wireless Inc has a 52-week low of $20.02 and a 52-week high of $35.98.

Boingo Wireless (NASDAQ:WIFI) last issued its earnings results on Wednesday, August 1st. The technology company reported $0.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.14) by $0.19. The company had revenue of $59.60 million during the quarter, compared to analyst estimates of $56.52 million. Boingo Wireless had a negative return on equity of 5.51% and a negative net margin of 2.44%. The firm’s quarterly revenue was up 21.6% on a year-over-year basis. During the same quarter last year, the business posted ($0.20) EPS. As a group, equities research analysts expect that Boingo Wireless Inc will post -0.21 earnings per share for the current year.

Boingo Wireless Profile

Boingo Wireless, Inc, together with its subsidiaries, provides wireless connectivity solutions for smartphones, tablets, laptops, wearables, and other wireless-enabled consumer devices. It designs, builds, monitors, and maintains distributed antenna systems (DAS), Wi-Fi, and small cell networks at managed and operated hotspot locations, such as airports, transportation hubs, stadiums, arenas, military bases, universities, convention centers, and office campuses in North America, Latin America, Europe, the Middle East, Africa, and Asia; and offers software applications and solutions to access its Wi-Fi network of approximately 1.5 million hotspots.

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

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