Gilder Gagnon Howe & Co. LLC cut its position in Boingo Wireless, Inc. (NASDAQ:WIFI) by 5.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,029,475 shares of the technology company’s stock after selling 107,183 shares during the period. Gilder Gagnon Howe & Co. LLC owned about 5.21% of Boingo Wireless worth $26,363,000 as of its most recent filing with the SEC.
Several other institutional investors also recently made changes to their positions in WIFI. Croft Leominster Inc. bought a new position in shares of Boingo Wireless during the third quarter worth approximately $287,000. Russell Investments Group Ltd. bought a new position in shares of Boingo Wireless during the fourth quarter worth approximately $7,463,000. State Street Corp boosted its position in Boingo Wireless by 7.7% in the fourth quarter. State Street Corp now owns 574,615 shares of the technology company’s stock worth $7,006,000 after buying an additional 40,912 shares during the last quarter. Legion Partners Asset Management LLC acquired a new position in Boingo Wireless during the fourth quarter worth about $25,835,000. Finally, Dimensional Fund Advisors LP boosted its position in Boingo Wireless by 7.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,758,272 shares of the technology company’s stock worth $21,433,000 after buying an additional 128,538 shares during the last quarter. Hedge funds and other institutional investors own 89.31% of the company’s stock.
Shares of Boingo Wireless, Inc. (WIFI) traded up 2.73% during midday trading on Friday, reaching $16.20. The company’s stock had a trading volume of 624,126 shares. Boingo Wireless, Inc. has a one year low of $8.10 and a one year high of $17.10. The stock’s 50-day moving average is $15.73 and its 200-day moving average is $13.19. The company’s market capitalization is $631.54 million.
Boingo Wireless (NASDAQ:WIFI) last released its quarterly earnings results on Thursday, May 4th. The technology company reported ($0.18) EPS for the quarter, topping the consensus estimate of ($0.21) by $0.03. Boingo Wireless had a negative return on equity of 24.60% and a negative net margin of 14.32%. The business had revenue of $44.30 million during the quarter, compared to analyst estimates of $41.25 million. During the same period last year, the business posted ($0.27) earnings per share. The company’s quarterly revenue was up 28.4% on a year-over-year basis. On average, equities analysts expect that Boingo Wireless, Inc. will post ($0.65) earnings per share for the current fiscal year.
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A number of equities analysts recently issued reports on WIFI shares. Jefferies Group LLC boosted their price objective on Boingo Wireless from $13.00 to $14.00 and gave the company a “buy” rating in a report on Wednesday, March 8th. Lake Street Capital restated a “buy” rating and set a $14.00 price objective (up previously from $12.00) on shares of Boingo Wireless in a report on Wednesday, March 8th. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $15.00 price objective on shares of Boingo Wireless in a report on Friday, March 10th. Credit Suisse Group restated a “buy” rating and set a $16.00 price objective on shares of Boingo Wireless in a report on Tuesday, April 18th. Finally, Benchmark Co. started coverage on Boingo Wireless in a report on Tuesday, April 25th. They set a “buy” rating and a $18.00 price objective for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and seven have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $14.59.
In other news, insider Dawn Callahan sold 100,000 shares of the stock in a transaction on Thursday, May 11th. The stock was sold at an average price of $15.90, for a total value of $1,590,000.00. Following the sale, the insider now directly owns 58,425 shares in the company, valued at $928,957.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO David Hagan sold 82,716 shares of the stock in a transaction on Friday, June 16th. The shares were sold at an average price of $15.68, for a total value of $1,296,986.88. Following the completion of the sale, the chief executive officer now owns 621,853 shares in the company, valued at $9,750,655.04. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 432,777 shares of company stock valued at $6,913,342. Company insiders own 7.50% of the company’s stock.
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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