Pembroke Management LTD Sells 51,400 Shares of Boingo Wireless Inc (WIFI)
Pembroke Management LTD lowered its stake in shares of Boingo Wireless Inc (NASDAQ:WIFI) by 6.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 785,800 shares of the technology company’s stock after selling 51,400 shares during the quarter. Boingo Wireless accounts for 1.8% of Pembroke Management LTD’s investment portfolio, making the stock its 23rd largest holding. Pembroke Management LTD’s holdings in Boingo Wireless were worth $17,680,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently made changes to their positions in WIFI. Castleark Management LLC bought a new position in Boingo Wireless in the 2nd quarter valued at $8,995,000. Renaissance Technologies LLC grew its stake in Boingo Wireless by 20.1% in the 2nd quarter. Renaissance Technologies LLC now owns 2,330,200 shares of the technology company’s stock valued at $34,860,000 after purchasing an additional 389,195 shares during the period. Granite Investment Partners LLC grew its stake in Boingo Wireless by 150.2% in the 3rd quarter. Granite Investment Partners LLC now owns 558,106 shares of the technology company’s stock valued at $11,927,000 after purchasing an additional 335,019 shares during the period. Vanguard Group Inc. grew its stake in Boingo Wireless by 19.0% in the 2nd quarter. Vanguard Group Inc. now owns 2,042,944 shares of the technology company’s stock valued at $30,563,000 after purchasing an additional 326,791 shares during the period. Finally, Intrinsic Edge Capital Management LLC grew its stake in Boingo Wireless by 410.2% in the 2nd quarter. Intrinsic Edge Capital Management LLC now owns 391,745 shares of the technology company’s stock valued at $5,861,000 after purchasing an additional 314,958 shares during the period. Institutional investors and hedge funds own 90.53% of the company’s stock.
A number of research analysts have issued reports on the company. Roth Capital assumed coverage on Boingo Wireless in a research note on Wednesday, January 17th. They issued a “buy” rating and a $29.00 price objective for the company. Zacks Investment Research downgraded Boingo Wireless from a “hold” rating to a “sell” rating in a research note on Saturday, January 6th. BidaskClub downgraded Boingo Wireless from a “hold” rating to a “sell” rating in a research note on Thursday, January 4th. Oppenheimer restated a “buy” rating and issued a $30.00 price objective on shares of Boingo Wireless in a research note on Wednesday, November 15th. Finally, Jefferies Group upped their price target on Boingo Wireless from $20.00 to $27.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Two equities research analysts have rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. Boingo Wireless has an average rating of “Buy” and a consensus target price of $24.50.
Boingo Wireless (NASDAQ:WIFI) last issued its quarterly earnings data on Thursday, November 2nd. The technology company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm’s quarterly revenue was up 31.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.15) EPS. equities analysts predict that Boingo Wireless Inc will post -0.57 earnings per share for the current year.
In related news, CFO Peter Hovenier sold 10,000 shares of the stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $23.75, for a total transaction of $237,500.00. Following the sale, the chief financial officer now owns 10,000 shares of the company’s stock, valued at approximately $237,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO David Hagan sold 59,500 shares of the stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $22.10, for a total value of $1,314,950.00. Following the sale, the chief executive officer now directly owns 606,186 shares in the company, valued at approximately $13,396,710.60. The disclosure for this sale can be found here. Insiders have sold a total of 175,770 shares of company stock worth $4,071,931 in the last three months. 7.70% of the stock is currently owned by insiders.
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Boingo Wireless Company 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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