Ameriprise Financial Inc. purchased a new stake in shares of Boingo Wireless, Inc. (NASDAQ:WIFI) in the second quarter, according to its most recent 13F filing with the SEC. The fund purchased 121,488 shares of the technology company’s stock, valued at approximately $1,815,000. Ameriprise Financial Inc. owned approximately 0.31% of Boingo Wireless at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Legal & General Group Plc grew its position in shares of Boingo Wireless by 3.9% during the 2nd quarter. Legal & General Group Plc now owns 9,149 shares of the technology company’s stock valued at $137,000 after purchasing an additional 341 shares in the last quarter. Stifel Financial Corp grew its position in shares of 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 purchasing an additional 559 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of Boingo Wireless by 4.8% during the 1st quarter. Alliancebernstein L.P. now owns 26,400 shares of the technology company’s stock valued at $343,000 after purchasing an additional 1,200 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of 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 purchasing an additional 1,253 shares in the last quarter. Finally, American International Group Inc. grew its position in shares of Boingo Wireless by 7.1% during the 1st quarter. American International Group Inc. now owns 21,925 shares of the technology company’s stock valued at $285,000 after purchasing an additional 1,444 shares in the last quarter. Hedge funds and other institutional investors own 88.63% of the company’s stock.

Several research analysts recently issued reports on WIFI shares. Zacks Investment Research upgraded shares of Boingo Wireless from a “hold” rating to a “buy” rating and set a $24.00 target price for the company in a research report on Thursday, October 5th. Craig Hallum upped their target price on shares of Boingo Wireless from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. BidaskClub lowered shares of Boingo Wireless from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Jefferies Group LLC reiterated a “buy” rating and issued a $20.00 target price (up from $17.00) on shares of Boingo Wireless in a research report on Wednesday, August 9th. Finally, Oppenheimer Holdings, Inc. reiterated an “outperform” rating and issued a $24.00 target price (up from $18.00) on shares of Boingo Wireless in a research report on Wednesday, August 9th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $19.15.

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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 analysts’ consensus estimates of ($0.17) by ($0.03). The company had revenue of $49.00 million during the quarter, compared to the consensus estimate of $46.23 million. Boingo Wireless had a negative net margin of 13.85% and a negative return on equity of 25.82%. The business’s revenue was up 25.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.19) earnings per share.

In other Boingo Wireless news, CEO David Hagan sold 60,000 shares of Boingo Wireless stock in a transaction on Friday, August 11th. The shares were sold at an average price of $18.39, for a total value of $1,103,400.00. Following the sale, the chief executive officer now directly owns 621,853 shares in the company, valued at approximately $11,435,876.67. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Peter Hovenier sold 18,552 shares of Boingo Wireless 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 270,778 shares of company stock worth $5,291,249. 7.70% of the stock is currently owned by insiders.

Boingo Wireless 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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