Pembroke Management LTD reduced its stake in shares of Boingo Wireless, Inc. (NASDAQ:WIFI) by 45.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 837,200 shares of the technology company’s stock after selling 689,000 shares during the quarter. Boingo Wireless accounts for approximately 1.7% of Pembroke Management LTD’s portfolio, making the stock its 24th largest holding. Pembroke Management LTD owned about 2.05% of Boingo Wireless worth $17,891,000 as of its most recent SEC filing.
Several other large investors also recently made changes to their positions in WIFI. Granite Investment Partners LLC grew its stake in shares of Boingo Wireless by 150.2% in the third quarter. Granite Investment Partners LLC now owns 558,106 shares of the technology company’s stock worth $11,927,000 after purchasing an additional 335,019 shares during the last quarter. Stephens Investment Management Group LLC bought a new stake in Boingo Wireless during the 3rd quarter valued at approximately $4,656,000. Dynamic Technology Lab Private Ltd bought a new stake in Boingo Wireless during the 3rd quarter valued at approximately $692,000. Macquarie Group Ltd. bought a new stake in Boingo Wireless during the 3rd quarter valued at approximately $301,000. Finally, Ameriprise Financial Inc. boosted its position in Boingo Wireless by 47.2% during the 3rd quarter. Ameriprise Financial Inc. now owns 178,795 shares of the technology company’s stock valued at $3,830,000 after acquiring an additional 57,307 shares in the last quarter. 89.96% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Boingo Wireless, Inc. (WIFI) opened at $22.88 on Friday. Boingo Wireless, Inc. has a 1 year low of $10.46 and a 1 year high of $25.99. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.50 and a current ratio of 0.50.
Boingo Wireless (NASDAQ:WIFI) last issued its quarterly earnings data on Thursday, November 2nd. The technology company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.04. Boingo Wireless had a negative net margin of 11.75% and a negative return on equity of 23.62%. The firm had revenue of $53.66 million during the quarter, compared to the consensus estimate of $50.22 million. During the same quarter in the previous year, the firm posted ($0.15) EPS. The company’s revenue for the quarter was up 31.5% compared to the same quarter last year. sell-side analysts forecast that Boingo Wireless, Inc. will post -0.58 earnings per share for the current fiscal year.
Several analysts have weighed in on WIFI shares. Credit Suisse Group lifted their price objective on Boingo Wireless from $24.00 to $26.00 and gave the company an “outperform” rating in a research report on Friday, November 3rd. Zacks Investment Research raised Boingo Wireless from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Thursday, October 5th. Craig Hallum lifted their target price on shares of Boingo Wireless from $24.00 to $28.00 and gave the company a “buy” rating in a report on Friday, November 3rd. Jefferies Group lifted their target price on shares of Boingo Wireless from $20.00 to $27.00 and gave the company a “buy” rating in a report on Friday, November 3rd. Finally, Oppenheimer reiterated a “buy” rating and set a $30.00 target price on shares of Boingo Wireless in a report on Wednesday, November 15th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $22.04.
In other Boingo Wireless news, CFO Peter Hovenier sold 10,000 shares of the business’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $23.75, for a total value of $237,500.00. Following the sale, the chief financial officer now owns 10,000 shares in the company, valued at approximately $237,500. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Derek Peterson sold 50,000 shares of the business’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 completion of the sale, the insider now owns 60,496 shares in the company, valued at approximately $1,258,316.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 128,552 shares of company stock valued at $2,913,093. Insiders own 7.70% of the company’s stock.
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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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