Laurion Capital Management LP Takes Position in Boingo Wireless, Inc. (WIFI)
Laurion Capital Management LP acquired a new stake in shares of Boingo Wireless, Inc. (NASDAQ:WIFI) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 21,223 shares of the technology company’s stock, valued at approximately $317,000. Laurion Capital Management LP owned 0.05% of Boingo Wireless as of its most recent SEC filing.
A number of other institutional investors also recently modified their holdings of the stock. Alliancebernstein L.P. boosted its holdings in Boingo Wireless by 4.8% in the first quarter. Alliancebernstein L.P. now owns 26,400 shares of the technology company’s stock worth $343,000 after purchasing an additional 1,200 shares during the last quarter. Cambria Investment Management L.P. purchased a new stake in Boingo Wireless during the 1st quarter valued at $136,000. American International Group Inc. raised its stake in 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 buying an additional 1,444 shares during the last quarter. Schroder Investment Management Group raised its stake in Boingo Wireless by 68.8% during the 1st quarter. Schroder Investment Management Group now owns 31,049 shares of the technology company’s stock valued at $406,000 after buying an additional 12,650 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its holdings in shares of Boingo Wireless by 9.7% during the 1st 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 period. Institutional investors own 89.08% of the company’s stock.
Boingo Wireless, Inc. (WIFI) opened at 21.37 on Monday. The stock has a 50 day moving average price of $19.63 and a 200 day moving average price of $15.85. The stock’s market capitalization is $857.13 million. Boingo Wireless, Inc. has a 12 month low of $9.39 and a 12 month high of $22.00.
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 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 firm had revenue of $49.00 million for the quarter, compared to analysts’ expectations of $46.23 million. During the same period last year, the company posted ($0.19) earnings per share. The business’s quarterly revenue was up 25.3% on a year-over-year basis. Equities analysts predict that Boingo Wireless, Inc. will post ($0.64) EPS for the current fiscal year.
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In other news, CEO David Hagan sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 6th. The stock was sold at an average price of $14.55, for a total value of $363,750.00. Following the transaction, the chief executive officer now owns 621,853 shares in the company, valued at $9,047,961.15. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Derek Peterson sold 50,000 shares of Boingo Wireless stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $20.80, for a total value of $1,040,000.00. Following the completion of the sale, the insider now directly owns 60,496 shares in the company, valued at $1,258,316.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 895,778 shares of company stock valued at $14,767,749. Insiders own 7.70% of the company’s stock.
A number of equities analysts have recently issued reports on the company. Zacks Investment Research upgraded Boingo Wireless from a “hold” rating to a “buy” rating and set a $17.00 price target on the stock in a research note on Wednesday, July 5th. Jefferies Group LLC reissued a “buy” rating and issued a $20.00 target price (up previously from $17.00) on shares of Boingo Wireless in a report on Wednesday, August 9th. Craig Hallum upped their price target on shares of Boingo Wireless from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Benchmark Co. upped their price target on shares of Boingo Wireless from $18.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Finally, BidaskClub raised shares of Boingo Wireless from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $18.37.
About Boingo Wireless
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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