Nicholas Investment Partners LP Acquires Shares of 110,989 Boingo Wireless, Inc. (WIFI)
Nicholas Investment Partners LP acquired a new stake in shares of Boingo Wireless, Inc. (NASDAQ:WIFI) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 110,989 shares of the technology company’s stock, valued at approximately $1,661,000. Nicholas Investment Partners LP owned approximately 0.28% of Boingo Wireless at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in WIFI. Legal & General Group Plc increased its stake in Boingo Wireless by 3.9% in the 2nd quarter. Legal & General Group Plc now owns 9,149 shares of the technology company’s stock worth $137,000 after purchasing an additional 341 shares during the period. Stifel Financial Corp increased its stake in Boingo Wireless by 3.7% in the 1st quarter. Stifel Financial Corp now owns 15,778 shares of the technology company’s stock worth $205,000 after purchasing an additional 559 shares during the period. Teachers Advisors LLC increased its stake in Boingo Wireless by 0.7% in the 4th quarter. Teachers Advisors LLC now owns 94,267 shares of the technology company’s stock worth $1,149,000 after purchasing an additional 673 shares during the period. Blair William & Co. IL increased its stake in Boingo Wireless by 1.1% in the 1st quarter. Blair William & Co. IL now owns 92,375 shares of the technology company’s stock worth $1,008,000 after purchasing an additional 1,000 shares during the period. Finally, Alliancebernstein L.P. increased its stake in Boingo Wireless by 4.8% in the 1st 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 period. 89.08% of the stock is currently owned by institutional investors.
Boingo Wireless, Inc. (NASDAQ:WIFI) opened at 21.20 on Thursday. The stock’s 50 day moving average price is $19.63 and its 200 day moving average price is $15.85. The stock’s market capitalization is $850.31 million. Boingo Wireless, Inc. has a 1-year low of $9.27 and a 1-year high of $22.00.
Boingo Wireless (NASDAQ:WIFI) last issued its quarterly earnings results on Thursday, August 3rd. The technology company reported ($0.20) earnings per share for the quarter, missing the 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 business had revenue of $49.00 million during the quarter, compared to analysts’ expectations of $46.23 million. During the same quarter in the previous year, the company posted ($0.19) earnings per share. The company’s quarterly revenue was up 25.3% compared to the same quarter last year. On average, equities research analysts predict that Boingo Wireless, Inc. will post ($0.64) earnings per share for the current fiscal year.
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A number of brokerages have commented on WIFI. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $24.00 price target (up from $18.00) on shares of Boingo Wireless in a research note on Wednesday, August 9th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $20.00 price target (up from $17.00) on shares of Boingo Wireless in a research note on Wednesday, August 9th. ValuEngine raised Boingo Wireless from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Benchmark Co. lifted their price target on Boingo Wireless from $18.00 to $24.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Finally, Craig Hallum lifted their price target on Boingo Wireless from $17.00 to $20.00 and gave the stock a “buy” rating in a research note on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $18.37.
In other Boingo Wireless news, Director Michael Finley sold 7,500 shares of the firm’s stock in a transaction on Friday, August 18th. The stock was sold at an average price of $19.34, for a total transaction of $145,050.00. Following the transaction, the director now directly owns 52,998 shares in the company, valued at approximately $1,024,981.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David Hagan sold 75,000 shares of the firm’s stock in a transaction on Friday, July 7th. The stock was sold at an average price of $14.59, for a total value of $1,094,250.00. Following the transaction, the chief executive officer now owns 621,853 shares in the company, valued at $9,072,835.27. The disclosure for this sale can be found here. Over the last quarter, insiders sold 970,778 shares of company stock worth $15,968,499. Company insiders own 7.70% of the company’s stock.
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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