Swiss National Bank raised its position in shares of Boingo Wireless Inc. (NASDAQ:WIFI) by 14.8% during the second quarter, Holdings Channel reports. The firm owned 66,750 shares of the company’s stock after buying an additional 8,600 shares during the period. Swiss National Bank owned about 0.18% of Boingo Wireless worth $595,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Spark Investment Management LLC purchased a new stake in shares of Boingo Wireless during the first quarter worth approximately $248,000. Prudential Financial Inc. purchased a new stake in shares of Boingo Wireless during the first quarter worth approximately $340,000. Trellus Management Company LLC boosted its stake in shares of Boingo Wireless by 44.4% in the second quarter. Trellus Management Company LLC now owns 130,000 shares of the company’s stock worth $1,160,000 after buying an additional 40,000 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Boingo Wireless by 0.8% in the first quarter. Geode Capital Management LLC now owns 208,733 shares of the company’s stock worth $1,611,000 after buying an additional 1,617 shares in the last quarter. Finally, Northpointe Capital LLC boosted its stake in shares of Boingo Wireless by 43.4% in the second quarter. Northpointe Capital LLC now owns 331,920 shares of the company’s stock worth $2,961,000 after buying an additional 100,492 shares in the last quarter. 86.56% of the stock is owned by institutional investors and hedge funds.
Boingo Wireless Inc. (NASDAQ:WIFI) traded up 0.30% during trading on Thursday, reaching $10.03. 31,315 shares of the company were exchanged. The stock’s market capitalization is $382.31 million. The firm’s 50 day moving average price is $9.25 and its 200-day moving average price is $8.43. Boingo Wireless Inc. has a one year low of $5.40 and a one year high of $10.38.
Boingo Wireless (NASDAQ:WIFI) last announced 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. The business earned $39.10 million during the quarter, compared to analyst estimates of $38.94 million. Boingo Wireless had a negative net margin of 17.20% and a negative return on equity of 23.75%. Boingo Wireless’s quarterly revenue was up 14.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.16) EPS. On average, equities research analysts predict that Boingo Wireless Inc. will post ($0.72) earnings per share for the current year.
WIFI has been the subject of a number of recent analyst reports. Oppenheimer Holdings Inc. initiated coverage on shares of Boingo Wireless in a research note on Tuesday, September 13th. They issued an “outperform” rating and a $12.00 price target for the company. Lake Street Capital initiated coverage on shares of Boingo Wireless in a research note on Monday, June 20th. They issued a “buy” rating and a $12.00 price target for the company. Ladenburg Thalmann reiterated a “buy” rating and issued a $12.25 price target on shares of Boingo Wireless in a research note on Thursday, August 11th. Jefferies Group increased their price target on shares of Boingo Wireless from $10.00 to $11.00 and gave the company a “buy” rating in a research note on Friday, August 5th. Finally, Zacks Investment Research upgraded shares of Boingo Wireless from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research note on Thursday, October 6th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $11.23.
In other Boingo Wireless news, VP Tom Tracey sold 3,750 shares of the business’s stock in a transaction 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 completion of the sale, the vice president now owns 46,299 shares in the company, valued at approximately $390,763.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Dawn Callahan sold 12,500 shares of the business’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $10.03, for a total transaction of $125,375.00. Following the sale, the chief marketing officer now owns 24,612 shares of the company’s stock, valued at approximately $246,858.36. The disclosure for this sale can be found here. Company insiders own 7.50% of the company’s stock.
Boingo Wireless Company Profile
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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