Grandview Asset Management LLC acquired a new stake in Boingo Wireless Inc (NASDAQ:WIFI) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 17,875 shares of the technology company’s stock, valued at approximately $368,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. State Board of Administration of Florida Retirement System lifted its position in Boingo Wireless by 6.0% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 12,627 shares of the technology company’s stock worth $260,000 after purchasing an additional 711 shares during the period. SG Americas Securities LLC bought a new position in shares of Boingo Wireless in the fourth quarter worth about $1,596,000. Rhumbline Advisers lifted its holdings in shares of Boingo Wireless by 48.0% in the fourth quarter. Rhumbline Advisers now owns 54,225 shares of the technology company’s stock worth $1,115,000 after acquiring an additional 17,587 shares during the last quarter. New Jersey Better Educational Savings Trust lifted its holdings in shares of Boingo Wireless by 85.7% in the fourth quarter. New Jersey Better Educational Savings Trust now owns 13,000 shares of the technology company’s stock worth $267,000 after acquiring an additional 6,000 shares during the last quarter. Finally, NJ State Employees Deferred Compensation Plan lifted its holdings in shares of Boingo Wireless by 14.3% in the fourth quarter. NJ State Employees Deferred Compensation Plan now owns 24,000 shares of the technology company’s stock worth $494,000 after acquiring an additional 3,000 shares during the last quarter. Institutional investors own 93.06% of the company’s stock.

In other news, CEO David Hagan sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 11th. The stock was sold at an average price of $23.76, for a total value of $356,400.00. Following the completion of the transaction, the chief executive officer now owns 515,401 shares of the company’s stock, valued at $12,245,927.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Peter Hovenier sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $23.95, for a total value of $119,750.00. Following the completion of the transaction, the chief financial officer now directly owns 604,194 shares of the company’s stock, valued at approximately $14,470,446.30. The disclosure for this sale can be found here. Insiders sold 70,000 shares of company stock valued at $1,647,250 in the last ninety days. 3.80% of the stock is currently owned by insiders.

WIFI stock opened at $24.61 on Monday. The stock has a market capitalization of $1.05 billion, a PE ratio of -50.22 and a beta of 1.07. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.29. Boingo Wireless Inc has a 12 month low of $18.50 and a 12 month high of $35.98.

A number of research analysts have recently commented on WIFI shares. ValuEngine cut shares of Boingo Wireless from a “strong-buy” rating to a “buy” rating in a report on Wednesday, January 2nd. Lake Street Capital reissued a “buy” rating and issued a $34.00 target price (up previously from $31.00) on shares of Boingo Wireless in a report on Friday, November 2nd. Jefferies Financial Group reissued a “buy” rating and issued a $35.00 target price (down previously from $38.00) on shares of Boingo Wireless in a report on Tuesday, November 13th. Zacks Investment Research raised shares of Boingo Wireless from a “hold” rating to a “buy” rating and set a $28.00 target price for the company in a report on Tuesday, November 6th. Finally, Roth Capital set a $40.00 target price on shares of Boingo Wireless and gave the stock a “buy” rating in a report on Wednesday, October 17th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $36.00.

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Boingo Wireless Company 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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