Boingo Wireless Inc (WIFI) Shares Sold by Quantbot Technologies LP

Quantbot Technologies LP trimmed its position in Boingo Wireless Inc (NASDAQ:WIFI) by 21.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,826 shares of the technology company’s stock after selling 4,301 shares during the period. Quantbot Technologies LP’s holdings in Boingo Wireless were worth $552,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of WIFI. GSA Capital Partners LLP purchased a new stake in Boingo Wireless in the second quarter worth $228,000. Bank of Montreal Can grew its stake in Boingo Wireless by 557.7% in the second quarter. Bank of Montreal Can now owns 10,529 shares of the technology company’s stock worth $238,000 after purchasing an additional 8,928 shares during the period. State Board of Administration of Florida Retirement System grew its stake in Boingo Wireless by 38.5% in the second quarter. State Board of Administration of Florida Retirement System now owns 11,916 shares of the technology company’s stock worth $269,000 after purchasing an additional 3,310 shares during the period. D.A. Davidson & CO. purchased a new stake in Boingo Wireless in the third quarter worth $276,000. Finally, Trexquant Investment LP purchased a new stake in Boingo Wireless in the third quarter worth $276,000. 92.48% of the stock is currently owned by institutional investors.

In other news, CFO Peter Hovenier sold 4,461 shares of the stock in a transaction on Monday, September 10th. The stock was sold at an average price of $33.51, for a total value of $149,488.11. Following the sale, the chief financial officer now directly owns 22,200 shares of the company’s stock, valued at $743,922. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO David Hagan sold 15,000 shares of the stock in a transaction on Tuesday, November 13th. The stock was sold at an average price of $25.53, for a total value of $382,950.00. Following the completion of the sale, the chief executive officer now directly owns 521,314 shares in the company, valued at $13,309,146.42. The disclosure for this sale can be found here. Over the last three months, insiders sold 128,794 shares of company stock worth $4,092,415. Insiders own 3.80% of the company’s stock.

Several equities research analysts recently weighed in on the company. BidaskClub raised Boingo Wireless from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, October 2nd. Zacks Investment Research raised Boingo Wireless from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research note on Tuesday, September 4th. CIBC upped their price target on Boingo Wireless from $30.00 to $39.00 and gave the stock an “outperform” rating in a research note on Friday, September 21st. Roth Capital set a $40.00 price target on Boingo Wireless and gave the stock a “buy” rating in a research note on Wednesday, October 17th. Finally, Oppenheimer upped their price target on Boingo Wireless from $30.00 to $39.00 and gave the stock an “outperform” rating in a research note on Friday, September 21st. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $35.63.

Shares of WIFI stock opened at $23.53 on Friday. The firm has a market capitalization of $1.03 billion, a P/E ratio of -48.02 and a beta of 0.79. Boingo Wireless Inc has a twelve month low of $20.02 and a twelve month high of $35.98. The company has a debt-to-equity ratio of 0.06, a quick ratio of 0.29 and a current ratio of 0.29.

Boingo Wireless (NASDAQ:WIFI) last released its earnings results on Thursday, November 1st. The technology company reported ($0.01) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.09. Boingo Wireless had a negative return on equity of 2.53% and a negative net margin of 1.10%. The firm had revenue of $65.25 million for the quarter, compared to analysts’ expectations of $63.32 million. During the same period in the prior year, the firm posted ($0.09) earnings per share. The company’s quarterly revenue was up 21.6% on a year-over-year basis. As a group, equities analysts anticipate that Boingo Wireless Inc will post -0.12 earnings per share for the current fiscal year.

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

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