Los Angeles Capital Management & Equity Research Inc. Has $1.89 Million Position in Boingo Wireless, Inc. (WIFI)
Los Angeles Capital Management & Equity Research Inc. increased its holdings in Boingo Wireless, Inc. (NASDAQ:WIFI) by 334.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 88,340 shares of the technology company’s stock after acquiring an additional 67,990 shares during the period. Los Angeles Capital Management & Equity Research Inc. owned approximately 0.22% of Boingo Wireless worth $1,888,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of WIFI. UBS Asset Management Americas Inc. purchased a new position in Boingo Wireless in the first quarter worth approximately $159,000. Alliancebernstein L.P. grew its position 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 acquiring an additional 1,200 shares during the period. Teachers Advisors LLC grew its position in Boingo Wireless by 2.8% in the first quarter. Teachers Advisors LLC now owns 96,931 shares of the technology company’s stock worth $1,259,000 after acquiring an additional 2,664 shares during the period. TIAA CREF Investment Management LLC boosted its position in shares of Boingo Wireless by 16.5% during the first quarter. TIAA CREF Investment Management LLC now owns 257,143 shares of the technology company’s stock worth $3,340,000 after buying an additional 36,344 shares during the period. Finally, Vanguard Group Inc. boosted its position in shares of Boingo Wireless by 10.8% during the first quarter. Vanguard Group Inc. now owns 1,716,153 shares of the technology company’s stock worth $22,292,000 after buying an additional 167,407 shares during the period. Institutional investors own 86.44% of the company’s stock.
In other Boingo Wireless news, VP Tom Tracey sold 10,000 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $20.45, for a total value of $204,500.00. Following the sale, the vice president now directly owns 34,868 shares in the company, valued at $713,050.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Derek Peterson sold 50,000 shares of the firm’s stock in a transaction on Monday, September 11th. The shares were 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 owns 60,496 shares in the company, valued at $1,258,316.80. The disclosure for this sale can be found here. Over the last quarter, insiders sold 173,785 shares of company stock worth $3,709,016. Insiders own 7.70% of the company’s stock.
Shares of Boingo Wireless, Inc. (NASDAQ WIFI) opened at $25.09 on Friday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.50 and a current ratio of 0.50. Boingo Wireless, Inc. has a 52 week low of $10.46 and a 52 week high of $25.99.
Boingo Wireless (NASDAQ:WIFI) last announced its quarterly earnings data on Thursday, November 2nd. The technology company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.04. The business had revenue of $53.66 million for the quarter, compared to analysts’ expectations of $50.22 million. Boingo Wireless had a negative return on equity of 23.62% and a negative net margin of 11.75%. The company’s revenue for the quarter was up 31.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.15) earnings per share. equities research analysts anticipate that Boingo Wireless, Inc. will post -0.58 EPS for the current year.
WIFI has been the subject of several research analyst reports. Benchmark Co. raised their price target on Boingo Wireless from $18.00 to $24.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Craig Hallum raised their price target on Boingo Wireless from $17.00 to $20.00 and gave the stock a “buy” rating in a research report on Friday, August 4th. Jefferies Group LLC restated a “buy” rating and set a $20.00 price target (up from $17.00) on shares of Boingo Wireless in a research report on Wednesday, August 9th. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $24.00 price target (up from $18.00) on shares of Boingo Wireless in a research report on Wednesday, August 9th. Finally, Zacks Investment Research upgraded Boingo Wireless from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Thursday, October 5th. 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 stock. The stock presently has an average rating of “Hold” and a consensus target price of $22.04.
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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.
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