Invictus RG acquired a new stake in Boingo Wireless, Inc. (NASDAQ:WIFI) during the third quarter, according to its most recent filing with the SEC. The firm acquired 15,822 shares of the technology company’s stock, valued at approximately $338,000.
A number of other large investors have also recently bought and sold shares of the stock. Great West Life Assurance Co. Can acquired a new stake in Boingo Wireless in the third quarter valued at $114,000. Legal & General Group Plc lifted its holdings in Boingo Wireless by 3.9% in the second quarter. Legal & General Group Plc now owns 9,149 shares of the technology company’s stock valued at $137,000 after acquiring an additional 341 shares during the period. Royal Bank of Canada lifted its holdings in Boingo Wireless by 1.3% in the second quarter. Royal Bank of Canada now owns 10,448 shares of the technology company’s stock valued at $156,000 after acquiring an additional 135 shares during the period. American Century Companies Inc. acquired a new stake in Boingo Wireless in the second quarter valued at $164,000. Finally, Aperio Group LLC acquired a new stake in Boingo Wireless in the second quarter valued at $164,000. Hedge funds and other institutional investors own 89.96% of the company’s stock.
In other news, insider Derek Peterson sold 50,000 shares of Boingo Wireless stock in a transaction on Monday, September 11th. The stock was sold at an average price of $20.80, for a total transaction of $1,040,000.00. Following the completion of the transaction, the insider now owns 60,496 shares of the company’s stock, valued at approximately $1,258,316.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Dawn Callahan sold 25,000 shares of Boingo Wireless stock in a transaction on 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. Insiders have sold a total of 128,552 shares of company stock valued at $2,913,093 in the last ninety days. Corporate insiders own 7.70% of the company’s stock.
A number of equities research analysts have commented on the company. Oppenheimer reissued a “buy” rating and issued a $30.00 target price on shares of Boingo Wireless in a report on Wednesday, November 15th. Zacks Investment Research downgraded Boingo Wireless from a “buy” rating to a “hold” rating in a report on Wednesday, November 8th. Jefferies Group raised their target price on Boingo Wireless from $20.00 to $27.00 and gave the company a “buy” rating in a report on Friday, November 3rd. Credit Suisse Group raised their target price on Boingo Wireless from $24.00 to $26.00 and gave the company an “outperform” rating in a report on Friday, November 3rd. Finally, Craig Hallum raised their target price on Boingo Wireless from $24.00 to $28.00 and gave the company a “buy” rating in a report on Friday, November 3rd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $22.04.
Boingo Wireless, Inc. (NASDAQ:WIFI) opened at $22.91 on Wednesday. The company has a current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.09. Boingo Wireless, Inc. has a one year low of $10.46 and a one year high of $25.99.
Boingo Wireless (NASDAQ:WIFI) last released its quarterly earnings results on Thursday, November 2nd. The technology company reported ($0.09) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.04. The business had revenue of $53.66 million during the quarter, compared to the consensus estimate of $50.22 million. Boingo Wireless had a negative return on equity of 23.62% and a negative net margin of 11.75%. The business’s revenue was up 31.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.15) EPS. equities research analysts predict that Boingo Wireless, Inc. will post -0.58 earnings per share for the current fiscal year.
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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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