Boingo Wireless, Inc. (NASDAQ:WIFI) Position Lowered by Sterling Capital Management LLC

Sterling Capital Management LLC lessened its holdings in shares of Boingo Wireless, Inc. (NASDAQ:WIFI) by 39.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,690 shares of the technology company’s stock after selling 24,138 shares during the period. Sterling Capital Management LLC owned 0.09% of Boingo Wireless worth $549,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in WIFI. Royal Bank of Canada grew its stake in shares of Boingo Wireless by 1.3% in the 2nd quarter. Royal Bank of Canada now owns 10,448 shares of the technology company’s stock valued at $156,000 after buying an additional 135 shares during the period. Legal & General Group Plc grew its stake in shares of Boingo Wireless by 3.9% in the 2nd quarter. Legal & General Group Plc now owns 9,149 shares of the technology company’s stock valued at $137,000 after buying an additional 341 shares during the period. Stifel Financial Corp grew its stake in shares of Boingo Wireless by 3.7% in the 1st quarter. Stifel Financial Corp now owns 15,778 shares of the technology company’s stock valued at $205,000 after buying an additional 559 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Boingo Wireless by 4.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 30,153 shares of the technology company’s stock valued at $452,000 after buying an additional 1,178 shares during the period. Finally, Alliancebernstein L.P. lifted its holdings in shares of Boingo Wireless by 4.8% in the 1st quarter. Alliancebernstein L.P. now owns 26,400 shares of the technology company’s stock worth $343,000 after acquiring an additional 1,200 shares during the last quarter. 88.74% of the stock is owned by institutional investors.

WIFI has been the topic of several recent analyst reports. Craig Hallum upped their price objective on shares of Boingo Wireless from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Friday, August 4th. Oppenheimer Holdings, Inc. upped their price objective on shares of Boingo Wireless and gave the stock an “outperform” rating in a report on Friday, November 3rd. Jefferies Group LLC restated a “buy” rating and issued a $20.00 price objective (up from $17.00) on shares of Boingo Wireless in a report on Wednesday, August 9th. BidaskClub lowered shares of Boingo Wireless from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. Finally, Zacks Investment Research upgraded shares of Boingo Wireless from a “hold” rating to a “buy” rating and set a $24.00 target price on the stock in a report on Thursday, October 5th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $21.37.

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In other Boingo Wireless news, CFO Peter Hovenier sold 18,552 shares of the firm’s stock in a transaction on Thursday, September 14th. The shares were sold at an average price of $21.31, for a total transaction of $395,343.12. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Derek Peterson sold 50,000 shares of the firm’s 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 transaction, the insider now directly owns 60,496 shares in the company, valued at $1,258,316.80. The disclosure for this sale can be found here. Insiders sold a total of 146,285 shares of company stock worth $3,003,816 over the last ninety days. Insiders own 7.70% of the company’s stock.

Shares of Boingo Wireless, Inc. (WIFI) traded up $0.46 on Friday, hitting $22.37. 718,200 shares of the stock were exchanged, compared to its average volume of 332,046. The company has a current ratio of 0.50, a quick ratio of 0.47 and a debt-to-equity ratio of 0.09. Boingo Wireless, Inc. has a fifty-two week low of $10.46 and a fifty-two week high of $25.99.

Boingo Wireless (NASDAQ:WIFI) last posted its earnings results on Thursday, November 2nd. The technology company reported ($0.09) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.13) by $0.04. The firm had revenue of $53.66 million for the quarter, compared to the consensus estimate of $50.22 million. Boingo Wireless had a negative net margin of 6.04% and a negative return on equity of 14.76%. The company’s revenue was up 31.5% on a year-over-year basis. During the same period last year, the firm posted ($0.15) EPS. equities analysts expect that Boingo Wireless, Inc. will post -0.59 EPS for the current year.

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. 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.

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

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