Redwood Investments LLC Sells 343,663 Shares of Boingo Wireless Inc (NASDAQ:WIFI)

Redwood Investments LLC decreased its holdings in shares of Boingo Wireless Inc (NASDAQ:WIFI) by 42.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 474,321 shares of the technology company’s stock after selling 343,663 shares during the period. Redwood Investments LLC’s holdings in Boingo Wireless were worth $8,524,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Macquarie Group Ltd. increased its stake in shares of Boingo Wireless by 75.6% during the fourth quarter. Macquarie Group Ltd. now owns 2,067 shares of the technology company’s stock valued at $42,000 after purchasing an additional 890 shares in the last quarter. Lindbrook Capital LLC bought a new position in shares of Boingo Wireless during the first quarter valued at approximately $96,000. Legal & General Group Plc increased its stake in shares of Boingo Wireless by 13.7% during the fourth quarter. Legal & General Group Plc now owns 7,297 shares of the technology company’s stock valued at $150,000 after purchasing an additional 882 shares in the last quarter. Quantamental Technologies LLC bought a new position in shares of Boingo Wireless during the first quarter valued at approximately $179,000. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Boingo Wireless by 60,900.0% during the first quarter. BNP Paribas Arbitrage SA now owns 8,540 shares of the technology company’s stock valued at $199,000 after purchasing an additional 8,526 shares in the last quarter.

In related news, Director David Hagan sold 32,782 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $17.90, for a total value of $586,797.80. Following the sale, the director now owns 1,056,229 shares in the company, valued at $18,906,499.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Peter Hovenier sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $17.80, for a total transaction of $89,000.00. Following the completion of the sale, the chief financial officer now owns 380,723 shares in the company, valued at approximately $6,776,869.40. The disclosure for this sale can be found here. In the last quarter, insiders have sold 150,854 shares of company stock worth $2,760,389. Corporate insiders own 4.50% of the company’s stock.

Shares of NASDAQ:WIFI traded up $0.01 during trading on Wednesday, reaching $12.79. 41,556 shares of the stock traded hands, compared to its average volume of 883,494. The firm’s 50-day moving average price is $17.30. Boingo Wireless Inc has a 52-week low of $12.60 and a 52-week high of $35.98. The company has a debt-to-equity ratio of 1.89, a quick ratio of 0.95 and a current ratio of 0.95. The company has a market capitalization of $572.75 million, a PE ratio of -426.96 and a beta of 1.01.

Boingo Wireless (NASDAQ:WIFI) last posted its quarterly earnings results on Wednesday, May 8th. The technology company reported ($0.12) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.02). Boingo Wireless had a negative net margin of 1.88% and a negative return on equity of 4.49%. The firm had revenue of $66.47 million for the quarter, compared to analysts’ expectations of $65.74 million. Analysts predict that Boingo Wireless Inc will post -0.31 earnings per share for the current year.

WIFI has been the topic of a number of recent analyst reports. Oppenheimer cut their price target on shares of Boingo Wireless to $23.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Northland Securities reiterated a “buy” rating on shares of Boingo Wireless in a report on Friday, August 2nd. Zacks Investment Research upgraded shares of Boingo Wireless from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Saturday. Credit Suisse Group set a $28.00 price target on shares of Boingo Wireless and gave the company a “buy” rating in a report on Friday, August 2nd. Finally, ValuEngine upgraded shares of Boingo Wireless from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, one has given a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $29.67.

Boingo Wireless Profile

Boingo Wireless, Inc, together with its subsidiaries, provides wireless connectivity solutions for smartphones, tablets, laptops, wearables, and other wireless-enabled consumer devices worldwide. The company offers distributed antenna systems and small cell networks at managed and operated locations; high-speed Wi-Fi services for residential consumers on military bases and at multifamily properties; and wholesale Wi-Fi services to network operators, device manufacturers, technology companies, enterprise software and services companies, venue operators, and financial services companies, as well as retail Internet access services.

Read More: What is systematic risk?

Want to see what other hedge funds are holding WIFI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boingo Wireless Inc (NASDAQ:WIFI).

Institutional Ownership by Quarter for Boingo Wireless (NASDAQ:WIFI)

Receive News & Ratings for Boingo Wireless Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boingo Wireless and related companies with MarketBeat.com's FREE daily email newsletter.