Granite Investment Partners LLC lowered its stake in Boingo Wireless, Inc. (NASDAQ:WIFI) by 4.6% during the second quarter, Holdings Channel reports. The fund owned 223,087 shares of the technology company’s stock after selling 10,869 shares during the period. Granite Investment Partners LLC’s holdings in Boingo Wireless were worth $3,337,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Renaissance Technologies LLC raised its position in Boingo Wireless by 9.7% in the first quarter. Renaissance Technologies LLC now owns 1,941,005 shares of the technology company’s stock valued at $25,214,000 after buying an additional 172,305 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Boingo Wireless by 2.8% in the first quarter. Dimensional Fund Advisors LP now owns 1,806,629 shares of the technology company’s stock valued at $23,468,000 after buying an additional 48,357 shares during the last quarter. Vanguard Group Inc. raised its position in Boingo Wireless by 10.8% in the first quarter. Vanguard Group Inc. now owns 1,716,153 shares of the technology company’s stock valued at $22,292,000 after buying an additional 167,407 shares during the last quarter. Russell Investments Group Ltd. raised its position in Boingo Wireless by 64.1% in the second quarter. Russell Investments Group Ltd. now owns 1,239,122 shares of the technology company’s stock valued at $18,538,000 after buying an additional 484,061 shares during the last quarter. Finally, Hood River Capital Management LLC raised its position in Boingo Wireless by 3.2% in the first quarter. Hood River Capital Management LLC now owns 660,045 shares of the technology company’s stock valued at $8,574,000 after buying an additional 20,679 shares during the last quarter. Institutional investors own 86.35% of the company’s stock.

Boingo Wireless, Inc. (WIFI) opened at 18.41 on Friday. The company has a 50 day moving average price of $15.73 and a 200 day moving average price of $14.14. Boingo Wireless, Inc. has a 12 month low of $8.10 and a 12 month high of $19.42. The firm’s market capitalization is $738.41 million.

Boingo Wireless (NASDAQ:WIFI) last issued its quarterly earnings data on Thursday, August 3rd. The technology company reported ($0.20) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.17) by $0.03. Boingo Wireless had a negative return on equity of 25.82% and a negative net margin of 13.85%. The company had revenue of $49 million for the quarter, compared to the consensus estimate of $46.23 million. During the same quarter last year, the business earned ($0.19) earnings per share. Boingo Wireless’s revenue was up 25.3% compared to the same quarter last year. Analysts anticipate that Boingo Wireless, Inc. will post ($0.64) earnings per share for the current fiscal year.

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WIFI has been the subject of several analyst reports. Credit Suisse Group boosted their target price on Boingo Wireless from $16.00 to $17.00 and gave the stock an “outperform” rating in a research report on Monday, May 15th. BidaskClub upgraded Boingo Wireless from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. Benchmark Co. initiated coverage on Boingo Wireless in a research report on Tuesday, April 25th. They set a “buy” rating and a $18.00 target price for the company. Zacks Investment Research upgraded Boingo Wireless from a “hold” rating to a “buy” rating and set a $17.00 target price for the company in a research report on Wednesday, July 5th. Finally, Craig Hallum boosted their target price on Boingo Wireless from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $17.93.

In other Boingo Wireless news, VP Tom Tracey sold 25,000 shares of Boingo Wireless stock in a transaction that occurred on Monday, May 15th. The stock was sold at an average price of $15.75, for a total value of $393,750.00. Following the completion of the sale, the vice president now directly owns 67,316 shares in the company, valued at $1,060,227. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO David Hagan sold 82,716 shares of Boingo Wireless stock in a transaction that occurred on Friday, June 16th. The stock was sold at an average price of $15.68, for a total value of $1,296,986.88. Following the completion of the sale, the chief executive officer now owns 621,853 shares of the company’s stock, valued at $9,750,655.04. The disclosure for this sale can be found here. Insiders have sold 1,010,765 shares of company stock valued at $15,943,471 over the last 90 days. 7.70% of the stock is owned by corporate insiders.

Boingo Wireless Company Profile

Boingo Wireless, Inc is a provider of commercial mobile wireless fidelity (Wi-Fi) Internet solutions and indoor Distributed Antenna System (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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Institutional Ownership by Quarter for Boingo Wireless (NASDAQ:WIFI)

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