Pembroke Management LTD increased its holdings in shares of Boingo Wireless Inc (NASDAQ:WIFI) by 43.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,062,266 shares of the technology company’s stock after purchasing an additional 323,097 shares during the quarter. Boingo Wireless accounts for 2.5% of Pembroke Management LTD’s portfolio, making the stock its 12th biggest holding. Pembroke Management LTD owned about 2.54% of Boingo Wireless worth $23,997,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the company. Wells Fargo & Company MN boosted its holdings in Boingo Wireless by 100.5% in the 4th quarter. Wells Fargo & Company MN now owns 128,452 shares of the technology company’s stock valued at $2,890,000 after purchasing an additional 64,393 shares during the period. BlackRock Inc. boosted its holdings in Boingo Wireless by 4.0% in the 4th quarter. BlackRock Inc. now owns 3,755,061 shares of the technology company’s stock valued at $84,487,000 after purchasing an additional 144,367 shares during the period. UBS Asset Management Americas Inc. bought a new position in shares of Boingo Wireless during the 4th quarter worth about $203,000. Alliancebernstein L.P. lifted its holdings in shares of Boingo Wireless by 7.4% during the 4th quarter. Alliancebernstein L.P. now owns 52,300 shares of the technology company’s stock worth $1,177,000 after acquiring an additional 3,600 shares during the period. Finally, Advisor Group Inc. lifted its holdings in shares of Boingo Wireless by 781.9% during the 4th quarter. Advisor Group Inc. now owns 8,078 shares of the technology company’s stock worth $181,000 after acquiring an additional 7,162 shares during the period. 92.83% of the stock is currently owned by hedge funds and other institutional investors.
In other Boingo Wireless news, CFO Peter Hovenier sold 20,730 shares of the firm’s stock in a transaction dated Friday, June 15th. The shares were sold at an average price of $24.45, for a total value of $506,848.50. Following the completion of the sale, the chief financial officer now owns 19,000 shares in the company, valued at approximately $464,550. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David Hagan sold 59,500 shares of the firm’s stock in a transaction dated Thursday, May 17th. The shares were sold at an average price of $20.42, for a total transaction of $1,214,990.00. Following the completion of the sale, the chief executive officer now owns 684,870 shares of the company’s stock, valued at approximately $13,985,045.40. The disclosure for this sale can be found here. Insiders sold a total of 415,729 shares of company stock valued at $9,856,628 in the last 90 days. Corporate insiders own 3.80% of the company’s stock.
Boingo Wireless (NASDAQ:WIFI) last announced its earnings results on Wednesday, August 1st. The technology company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.19. The business had revenue of $59.60 million during the quarter, compared to analysts’ expectations of $56.52 million. Boingo Wireless had a negative net margin of 2.44% and a negative return on equity of 5.51%. The firm’s revenue for the quarter was up 21.6% on a year-over-year basis. During the same quarter last year, the company posted ($0.20) EPS. analysts predict that Boingo Wireless Inc will post -0.18 EPS for the current year.
A number of research firms have recently commented on WIFI. BidaskClub raised shares of Boingo Wireless from a “hold” rating to a “buy” rating in a report on Friday, August 3rd. Roth Capital set a $32.00 price objective on shares of Boingo Wireless and gave the stock a “buy” rating in a report on Thursday, August 2nd. Zacks Investment Research raised shares of Boingo Wireless from a “sell” rating to a “hold” rating in a report on Friday, July 20th. Craig Hallum increased their target price on shares of Boingo Wireless from $30.00 to $31.00 and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Finally, ValuEngine upgraded shares of Boingo Wireless from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, May 2nd. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. Boingo Wireless currently has an average rating of “Buy” and a consensus price target of $31.00.
About Boingo Wireless
Boingo Wireless, Inc, together with its subsidiaries, provides wireless connectivity solutions for smartphones, tablets, laptops, wearables, and other wireless-enabled consumer devices. It designs, builds, monitors, and maintains distributed antenna systems (DAS), Wi-Fi, and small cell networks at managed and operated hotspot locations, such as airports, transportation hubs, stadiums, arenas, military bases, universities, convention centers, and office campuses in North America, Latin America, Europe, the Middle East, Africa, and Asia; and offers software applications and solutions to access its Wi-Fi network of approximately 1.5 million hotspots.
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