Boingo Wireless (WIFI) Shares Bought by Millennium Management LLC

Millennium Management LLC grew its holdings in shares of Boingo Wireless (NASDAQ:WIFI) by 13.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 549,120 shares of the technology company’s stock after acquiring an additional 65,956 shares during the quarter. Millennium Management LLC owned 1.35% of Boingo Wireless worth $12,355,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. BlackRock Inc. raised its stake in Boingo Wireless by 4.0% during the fourth quarter. BlackRock Inc. now owns 3,755,061 shares of the technology company’s stock worth $84,487,000 after acquiring an additional 144,367 shares in the last quarter. Renaissance Technologies LLC raised its stake in Boingo Wireless by 15.2% during the fourth quarter. Renaissance Technologies LLC now owns 3,001,000 shares of the technology company’s stock worth $67,523,000 after acquiring an additional 395,200 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Boingo Wireless by 2.2% during the third quarter. Dimensional Fund Advisors LP now owns 1,995,174 shares of the technology company’s stock worth $42,638,000 after acquiring an additional 42,749 shares in the last quarter. Hood River Capital Management LLC raised its stake in Boingo Wireless by 8.4% during the fourth quarter. Hood River Capital Management LLC now owns 1,155,233 shares of the technology company’s stock worth $25,993,000 after acquiring an additional 89,465 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its stake in Boingo Wireless by 99.6% during the fourth quarter. Bank of New York Mellon Corp now owns 1,113,217 shares of the technology company’s stock worth $25,047,000 after acquiring an additional 555,471 shares in the last quarter. 91.12% of the stock is owned by hedge funds and other institutional investors.

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In related news, VP Tom Tracey sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, March 5th. The stock was sold at an average price of $25.80, for a total value of $645,000.00. Following the sale, the vice president now directly owns 49,818 shares in the company, valued at $1,285,304.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO David Hagan sold 59,500 shares of the company’s stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $22.10, for a total value of $1,314,950.00. Following the completion of the sale, the chief executive officer now owns 606,186 shares in the company, valued at $13,396,710.60. The disclosure for this sale can be found here. Insiders sold 374,352 shares of company stock worth $9,439,720 over the last quarter. 7.70% of the stock is currently owned by company insiders.

Several research analysts have commented on WIFI shares. BidaskClub raised Boingo Wireless from a “hold” rating to a “buy” rating in a research note on Friday, March 2nd. Northland Securities reissued a “buy” rating on shares of Boingo Wireless in a research note on Thursday, March 1st. Roth Capital began coverage on Boingo Wireless in a report on Wednesday, January 17th. They set a “buy” rating and a $29.00 price target on the stock. Jefferies Group boosted their price target on Boingo Wireless to $32.00 and gave the stock a “buy” rating in a report on Wednesday, February 28th. Finally, Lake Street Capital restated a “buy” rating and set a $30.00 price target (up from $26.00) on shares of Boingo Wireless in a report on Wednesday, February 28th. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $28.39.

NASDAQ:WIFI opened at $24.81 on Friday. The stock has a market cap of $990.90, a PE ratio of -50.63 and a beta of 0.62. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.07. Boingo Wireless has a 1-year low of $12.74 and a 1-year high of $28.34.

Boingo Wireless (NASDAQ:WIFI) last released its quarterly earnings results on Tuesday, February 27th. The technology company reported ($0.02) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.11) by $0.09. The company had revenue of $57.35 million for the quarter, compared to analysts’ expectations of $54.48 million. Boingo Wireless had a negative return on equity of 20.09% and a negative net margin of 9.40%. sell-side analysts anticipate that Boingo Wireless will post -0.41 earnings per share for the current year.

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Boingo Wireless 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.

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

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