Boingo Wireless Inc (WIFI) Shares Bought by Emerald Mutual Fund Advisers Trust

Emerald Mutual Fund Advisers Trust boosted its stake in Boingo Wireless Inc (NASDAQ:WIFI) by 46.0% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 575,439 shares of the technology company’s stock after acquiring an additional 181,239 shares during the quarter. Emerald Mutual Fund Advisers Trust owned 1.36% of Boingo Wireless worth $20,083,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in WIFI. Northern Trust Corp grew its stake in Boingo Wireless by 4.1% in the 1st quarter. Northern Trust Corp now owns 496,834 shares of the technology company’s stock valued at $12,306,000 after acquiring an additional 19,356 shares during the period. JPMorgan Chase & Co. grew its stake in Boingo Wireless by 26.3% in the 1st quarter. JPMorgan Chase & Co. now owns 97,487 shares of the technology company’s stock valued at $2,415,000 after acquiring an additional 20,298 shares during the period. Sei Investments Co. acquired a new stake in Boingo Wireless in the 1st quarter valued at $290,000. Royal Bank of Canada grew its stake in Boingo Wireless by 31.9% in the 1st quarter. Royal Bank of Canada now owns 194,063 shares of the technology company’s stock valued at $4,808,000 after acquiring an additional 46,982 shares during the period. Finally, Summit Trail Advisors LLC grew its stake in Boingo Wireless by 10.4% in the 1st quarter. Summit Trail Advisors LLC now owns 41,483 shares of the technology company’s stock valued at $645,000 after acquiring an additional 3,919 shares during the period. 95.57% of the stock is currently owned by hedge funds and other institutional investors.

In other news, VP Tom Tracey sold 25,000 shares of Boingo Wireless stock in a transaction on Monday, August 6th. The stock was sold at an average price of $31.44, for a total transaction of $786,000.00. Following the transaction, the vice president now owns 46,605 shares in the company, valued at approximately $1,465,261.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Michael Finley sold 7,000 shares of Boingo Wireless stock in a transaction on Monday, August 6th. The stock was sold at an average price of $31.13, for a total value of $217,910.00. Following the transaction, the director now owns 46,159 shares in the company, valued at approximately $1,436,929.67. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 279,865 shares of company stock worth $8,943,560. 3.80% of the stock is currently owned by corporate insiders.

Shares of WIFI opened at $31.12 on Wednesday. Boingo Wireless Inc has a 52-week low of $20.02 and a 52-week high of $35.98. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.43 and a current ratio of 0.43.

Boingo Wireless (NASDAQ:WIFI) last announced its earnings results on Wednesday, August 1st. The technology company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.14) by $0.19. Boingo Wireless had a negative net margin of 2.44% and a negative return on equity of 5.51%. The company had revenue of $59.60 million for the quarter, compared to analysts’ expectations of $56.52 million. During the same quarter in the previous year, the company posted ($0.20) EPS. The firm’s quarterly revenue was up 21.6% on a year-over-year basis. Equities analysts expect that Boingo Wireless Inc will post -0.22 earnings per share for the current fiscal year.

A number of research firms recently issued reports on WIFI. Zacks Investment Research raised shares of Boingo Wireless from a “hold” rating to a “buy” rating and set a $38.00 price target on the stock in a research note on Saturday, October 13th. BidaskClub raised shares of Boingo Wireless from a “hold” rating to a “buy” rating in a research note on Friday, July 6th. Craig Hallum lifted their price target on shares of Boingo Wireless from $31.00 to $38.00 and gave the company a “buy” rating in a research note on Friday, September 7th. Oppenheimer lifted their price target on shares of Boingo Wireless from $30.00 to $39.00 and gave the company an “outperform” rating in a research note on Friday, September 21st. Finally, Roth Capital set a $32.00 price target on shares of Boingo Wireless and gave the company a “buy” rating in a research note on Thursday, August 2nd. One investment analyst has rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $36.75.

About Boingo Wireless

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.

Featured Article: Institutional Investors

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

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