Russell Investments Group Ltd. Reduces Holdings in Boingo Wireless Inc (WIFI)

Russell Investments Group Ltd. decreased its holdings in Boingo Wireless Inc (NASDAQ:WIFI) by 20.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 750,638 shares of the technology company’s stock after selling 198,874 shares during the period. Russell Investments Group Ltd. owned about 1.78% of Boingo Wireless worth $26,183,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of the business. NJ State Employees Deferred Compensation Plan grew its stake in shares of Boingo Wireless by 5.0% in the second quarter. NJ State Employees Deferred Compensation Plan now owns 42,000 shares of the technology company’s stock worth $949,000 after acquiring an additional 2,000 shares in the last quarter. First Republic Investment Management Inc. grew its stake in shares of Boingo Wireless by 25.1% in the second quarter. First Republic Investment Management Inc. now owns 13,728 shares of the technology company’s stock worth $310,000 after acquiring an additional 2,754 shares in the last quarter. New Jersey Better Educational Savings Trust grew its stake in shares of Boingo Wireless by 17.6% in the second quarter. New Jersey Better Educational Savings Trust now owns 20,000 shares of the technology company’s stock worth $452,000 after acquiring an additional 3,000 shares in the last quarter. Granite Investment Partners LLC grew its stake in shares of Boingo Wireless by 0.5% in the second quarter. Granite Investment Partners LLC now owns 590,165 shares of the technology company’s stock worth $13,332,000 after acquiring an additional 3,079 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its stake in shares of Boingo Wireless by 38.5% in the second quarter. State Board of Administration of Florida Retirement System now owns 11,916 shares of the technology company’s stock worth $269,000 after acquiring an additional 3,310 shares in the last quarter. Institutional investors and hedge funds own 95.57% of the company’s stock.

In other news, CEO David Hagan sold 59,500 shares of Boingo Wireless stock in a transaction on Thursday, August 16th. The shares were sold at an average price of $31.01, for a total transaction of $1,845,095.00. Following the completion of the sale, the chief executive officer now directly owns 606,481 shares of the company’s stock, valued at approximately $18,806,975.81. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Dawn Callahan sold 29,953 shares of the business’s stock in a transaction on Tuesday, August 21st. The shares were sold at an average price of $31.47, for a total transaction of $942,620.91. Following the completion of the sale, the insider now directly owns 4,953 shares of the company’s stock, valued at $155,870.91. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 279,865 shares of company stock valued at $8,943,560. Corporate insiders own 3.80% of the company’s stock.

Several equities analysts have commented on the stock. Jefferies Financial Group boosted their price target on shares of Boingo Wireless from $33.00 to $38.00 and gave the stock a “buy” rating in a research note on Monday, August 20th. BidaskClub raised shares of Boingo Wireless from a “hold” rating to a “buy” rating in a research report on Friday, August 3rd. Roth Capital set a $32.00 price objective on shares of Boingo Wireless and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Zacks Investment Research cut shares of Boingo Wireless from a “buy” rating to a “hold” rating in a research report on Tuesday, October 23rd. Finally, CIBC lifted their price objective on shares of Boingo Wireless from $30.00 to $39.00 and gave the stock an “outperform” rating in a research report on Friday, September 21st. Two analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $37.25.

Boingo Wireless stock opened at $24.89 on Friday. The firm has a market cap of $1.05 billion, a PE ratio of -50.80 and a beta of 0.80. Boingo Wireless Inc has a 12-month low of $20.02 and a 12-month high of $35.98. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.43 and a quick ratio of 0.43.

Boingo Wireless (NASDAQ:WIFI) last released its quarterly earnings data on Thursday, November 1st. The technology company reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.10) by $0.09. The business had revenue of $65.25 million during the quarter, compared to analysts’ expectations of $63.32 million. Boingo Wireless had a negative net margin of 1.10% and a negative return on equity of 2.58%. The company’s revenue for the quarter was up 21.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.09) EPS. As a group, sell-side analysts forecast that Boingo Wireless Inc will post -0.17 earnings per share for the current year.

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.

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

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