Cubist Systematic Strategies LLC increased its stake in shares of Boingo Wireless Inc (NASDAQ:WIFI) by 51.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,511 shares of the technology company’s stock after purchasing an additional 8,654 shares during the quarter. Cubist Systematic Strategies LLC owned approximately 0.06% of Boingo Wireless worth $545,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can acquired a new position in Boingo Wireless during the 3rd quarter worth approximately $114,000. Legal & General Group Plc increased its position in Boingo Wireless by 3.9% during the 2nd quarter. Legal & General Group Plc now owns 9,149 shares of the technology company’s stock worth $137,000 after purchasing an additional 341 shares in the last quarter. Royal Bank of Canada increased its position in Boingo Wireless by 1.3% during the 2nd quarter. Royal Bank of Canada now owns 10,448 shares of the technology company’s stock worth $156,000 after purchasing an additional 135 shares in the last quarter. First Republic Investment Management Inc. acquired a new position in Boingo Wireless during the 3rd quarter worth approximately $229,000. Finally, American Century Companies Inc. acquired a new position in Boingo Wireless during the 2nd quarter worth approximately $164,000. Institutional investors and hedge funds own 89.96% of the company’s stock.
Shares of Boingo Wireless Inc (NASDAQ:WIFI) opened at $21.31 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 current ratio of 0.50, a quick ratio of 0.50 and a debt-to-equity ratio of 0.09. The firm has a market cap of $869.35, a P/E ratio of -36.74 and a beta of 0.53.
Boingo Wireless (NASDAQ:WIFI) last posted its earnings results on Thursday, November 2nd. The technology company reported ($0.09) earnings per share for the quarter, topping the Zacks’ consensus estimate 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 for the quarter, compared to analyst estimates of $50.22 million. During the same period 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. equities analysts predict that Boingo Wireless Inc will post -0.58 earnings per share for the current fiscal year.
In other news, CFO Peter Hovenier sold 25,000 shares of the company’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $24.51, for a total value of $612,750.00. Following the sale, the chief financial officer now directly owns 10,000 shares of the company’s stock, valued at approximately $245,100. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Dawn Callahan sold 11,437 shares of the company’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $22.85, for a total transaction of $261,335.45. Following the completion of the sale, the insider now directly owns 11,370 shares in the company, valued at $259,804.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 96,437 shares of company stock worth $2,317,085. Insiders own 7.70% of the company’s stock.
A number of research firms recently issued reports on WIFI. BidaskClub cut shares of Boingo Wireless from a “hold” rating to a “sell” rating in a research report on Thursday, January 4th. Zacks Investment Research raised 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. Craig Hallum boosted their target price on shares of Boingo Wireless from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. Credit Suisse Group boosted their target price on shares of Boingo Wireless from $24.00 to $26.00 and gave the stock an “outperform” rating in a report on Friday, November 3rd. Finally, Oppenheimer reissued 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, one has given a hold rating and seven have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $23.94.
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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.
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