Boingo Wireless, Inc. (WIFI) Position Boosted by Intrinsic Edge Capital Management LLC
Intrinsic Edge Capital Management LLC boosted its holdings in shares of Boingo Wireless, Inc. (NASDAQ:WIFI) by 410.2% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 391,745 shares of the technology company’s stock after acquiring an additional 314,958 shares during the quarter. Boingo Wireless accounts for 1.8% of Intrinsic Edge Capital Management LLC’s portfolio, making the stock its 13th biggest holding. Intrinsic Edge Capital Management LLC owned about 0.98% of Boingo Wireless worth $5,861,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of WIFI. Wells Fargo & Company MN boosted its holdings in Boingo Wireless by 3.4% during the 1st quarter. Wells Fargo & Company MN now owns 38,119 shares of the technology company’s stock valued at $495,000 after acquiring an additional 1,253 shares during the period. Bank of New York Mellon Corp boosted its holdings in Boingo Wireless by 4.6% during the 1st quarter. Bank of New York Mellon Corp now owns 466,879 shares of the technology company’s stock valued at $6,065,000 after acquiring an additional 20,517 shares during the period. UBS Asset Management Americas Inc. purchased a new position in Boingo Wireless during the 1st quarter valued at $159,000. Virginia Retirement Systems ET AL purchased a new position in Boingo Wireless during the 1st quarter valued at $134,000. Finally, Stifel Financial Corp boosted its holdings in Boingo Wireless by 3.7% during the 1st quarter. Stifel Financial Corp now owns 15,778 shares of the technology company’s stock valued at $205,000 after acquiring an additional 559 shares during the period. Institutional investors own 89.08% of the company’s stock.
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In other Boingo Wireless news, CEO David Hagan sold 75,000 shares of Boingo Wireless stock in a transaction dated Friday, July 14th. The stock was sold at an average price of $15.01, for a total transaction of $1,125,750.00. Following the completion of the sale, the chief executive officer now directly owns 621,853 shares of the company’s stock, valued at approximately $9,334,013.53. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Peter Hovenier sold 18,552 shares of Boingo Wireless stock in a transaction dated Thursday, September 14th. The stock was sold at an average price of $21.31, for a total value of $395,343.12. The disclosure for this sale can be found here. Insiders have sold a total of 845,778 shares of company stock valued at $14,038,499 over the last ninety days. 7.70% of the stock is owned by company insiders.
Shares of Boingo Wireless, Inc. (WIFI) traded down 1.6968% during midday trading on Thursday, hitting $21.4301. The company’s stock had a trading volume of 72,842 shares. The firm’s market cap is $859.54 million. Boingo Wireless, Inc. has a 12-month low of $9.39 and a 12-month high of $22.14. The firm has a 50-day moving average of $20.72 and a 200 day moving average of $16.58.
Boingo Wireless (NASDAQ:WIFI) last announced its quarterly earnings results on Thursday, August 3rd. The technology company reported ($0.20) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.17) by ($0.03). The business had revenue of $49.00 million for the quarter, compared to analysts’ expectations of $46.23 million. Boingo Wireless had a negative return on equity of 25.82% and a negative net margin of 13.85%. The firm’s quarterly revenue was up 25.3% on a year-over-year basis. During the same period last year, the firm earned ($0.19) earnings per share. On average, equities research analysts predict that Boingo Wireless, Inc. will post ($0.64) EPS for the current fiscal year.
WIFI has been the subject of a number of recent analyst reports. Zacks Investment Research cut Boingo Wireless from a “buy” rating to a “hold” rating in a report on Friday, July 7th. BidaskClub cut Boingo Wireless from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Craig Hallum boosted their price objective on Boingo Wireless from $20.00 to $24.00 and gave the company a “buy” rating in a report on Tuesday, September 5th. Benchmark Co. boosted their price objective on Boingo Wireless from $18.00 to $24.00 and gave the company a “buy” rating in a report on Friday, August 4th. Finally, Jefferies Group LLC restated a “buy” rating and set a $20.00 price objective (up previously from $17.00) on shares of Boingo Wireless in a report on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $19.15.
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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