Engineers Gate Manager LP increased its holdings in Boingo Wireless Inc (NASDAQ:WIFI) by 121.5% during the third quarter, HoldingsChannel.com reports. The firm owned 45,252 shares of the technology company’s stock after acquiring an additional 24,821 shares during the quarter. Engineers Gate Manager LP’s holdings in Boingo Wireless were worth $1,579,000 at the end of the most recent quarter.
A number of other large investors have also modified their holdings of the stock. Cornerstone Wealth Management LLC purchased a new position in shares of Boingo Wireless in the second quarter valued at about $352,000. Public Employees Retirement Association of Colorado purchased a new position in shares of Boingo Wireless in the third quarter valued at about $306,000. Oppenheimer & Co. Inc. purchased a new position in shares of Boingo Wireless in the third quarter valued at about $348,000. GSA Capital Partners LLP purchased a new position in shares of Boingo Wireless in the second quarter valued at about $228,000. Finally, Bank of Montreal Can increased its position in shares of Boingo Wireless by 557.7% in the second quarter. Bank of Montreal Can now owns 10,529 shares of the technology company’s stock valued at $238,000 after acquiring an additional 8,928 shares during the period. Institutional investors own 95.05% of the company’s stock.
A number of equities analysts have issued reports on WIFI shares. Zacks Investment Research upgraded shares of Boingo Wireless from a “hold” rating to a “buy” rating and set a $36.00 price objective on the stock in a research report on Tuesday, September 4th. Craig Hallum boosted their price objective on shares of Boingo Wireless from $31.00 to $38.00 and gave the company a “buy” rating in a research report on Friday, September 7th. BidaskClub cut shares of Boingo Wireless from a “strong-buy” rating to a “buy” rating in a research report on Saturday, September 22nd. Jefferies Financial Group boosted their price objective on shares of Boingo Wireless from $33.00 to $38.00 and gave the company a “buy” rating in a research report on Monday, August 20th. Finally, Roth Capital set a $32.00 price objective on shares of Boingo Wireless and gave the company a “buy” rating in a research report on Thursday, August 2nd. One research analyst has rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Boingo Wireless currently has a consensus rating of “Buy” and a consensus target price of $36.00.
Boingo Wireless (NASDAQ:WIFI) last announced its earnings results on Thursday, November 1st. The technology company reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.09. The firm had revenue of $65.25 million for the quarter, compared to analyst estimates of $63.32 million. Boingo Wireless had a negative net margin of 1.10% and a negative return on equity of 2.53%. The company’s revenue for the quarter was up 21.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.09) EPS. Research analysts expect that Boingo Wireless Inc will post -0.13 EPS for the current year.
In other news, CEO David Hagan sold 59,500 shares of Boingo Wireless stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $31.01, for a total transaction of $1,845,095.00. Following the sale, the chief executive officer now owns 606,481 shares of the company’s stock, valued at approximately $18,806,975.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dawn Callahan sold 29,953 shares of Boingo Wireless stock in a transaction dated Tuesday, August 21st. The shares were sold at an average price of $31.47, for a total transaction of $942,620.91. Following the sale, the insider now directly owns 4,953 shares in the company, valued at approximately $155,870.91. The disclosure for this sale can be found here. Insiders have sold a total of 247,865 shares of company stock worth $7,939,650 in the last ninety days. Insiders own 3.80% of the company’s stock.
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Boingo Wireless Company 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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