Northpointe Capital LLC raised its position in Boingo Wireless Inc (NASDAQ:WIFI) by 43.4% during the second quarter, Holdings Channel reports. The fund owned 331,920 shares of the company’s stock after buying an additional 100,492 shares during the period. Northpointe Capital LLC’s holdings in Boingo Wireless were worth $2,961,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Skylands Capital LLC increased its position in shares of Boingo Wireless by 4.8% in the second quarter. Skylands Capital LLC now owns 690,850 shares of the company’s stock worth $6,162,000 after buying an additional 31,700 shares during the last quarter. Prudential Financial Inc. acquired a new position in shares of Boingo Wireless during the first quarter worth $340,000. Nicholas Investment Partners LP increased its position in shares of Boingo Wireless by 9.3% in the first quarter. Nicholas Investment Partners LP now owns 652,518 shares of the company’s stock worth $5,037,000 after buying an additional 55,340 shares during the last quarter. Royce & Associates LP increased its position in shares of Boingo Wireless by 96.8% in the first quarter. Royce & Associates LP now owns 444,894 shares of the company’s stock worth $3,435,000 after buying an additional 218,804 shares during the last quarter. Finally, State Street Corp increased its position in shares of Boingo Wireless by 7.6% in the first quarter. State Street Corp now owns 438,459 shares of the company’s stock worth $3,384,000 after buying an additional 31,062 shares during the last quarter. Hedge funds and other institutional investors own 86.56% of the company’s stock.
Shares of Boingo Wireless Inc (NASDAQ:WIFI) traded down 1.00% during midday trading on Wednesday, reaching $9.90. 166,482 shares of the company’s stock were exchanged. Boingo Wireless Inc has a one year low of $5.40 and a one year high of $10.38. The stock’s market cap is $377.36 million. The firm has a 50 day moving average of $8.98 and a 200-day moving average of $8.33.
Boingo Wireless (NASDAQ:WIFI) last posted its quarterly earnings results on Thursday, August 4th. The company reported ($0.19) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.20) by $0.01. Boingo Wireless had a negative net margin of 17.20% and a negative return on equity of 23.75%. The firm had revenue of $39.10 million for the quarter, compared to analysts’ expectations of $38.94 million. During the same quarter in the prior year, the company posted ($0.16) earnings per share. The business’s revenue for the quarter was up 14.1% on a year-over-year basis. On average, equities research analysts anticipate that Boingo Wireless Inc will post ($0.72) earnings per share for the current year.
A number of equities analysts have recently weighed in on WIFI shares. BTIG Research started coverage on Boingo Wireless in a research note on Monday, July 11th. They issued a “sell” rating and a $6.85 target price on the stock. Lake Street Capital started coverage on Boingo Wireless in a research note on Monday, June 20th. They issued a “buy” rating and a $12.00 target price on the stock. Oppenheimer Holdings Inc. started coverage on Boingo Wireless in a research note on Tuesday, September 13th. They issued an “outperform” rating and a $12.00 target price on the stock. Ladenburg Thalmann restated a “buy” rating and issued a $12.25 target price on shares of Boingo Wireless in a research note on Thursday, August 11th. Finally, Jefferies Group lifted their price target on shares of Boingo Wireless from $10.00 to $11.00 and gave the stock a “buy” rating in a report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $10.73.
In other news, VP Tom Tracey sold 3,750 shares of the stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $8.44, for a total transaction of $31,650.00. Following the sale, the vice president now owns 46,299 shares in the company, valued at $390,763.56. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders own 7.50% of the company’s stock.
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 for carriers. 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 segment.
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