Grandview Asset Management LLC trimmed its stake in shares of Boingo Wireless Inc (NASDAQ:WIFI) by 28.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,800 shares of the technology company’s stock after selling 5,075 shares during the period. Grandview Asset Management LLC’s holdings in Boingo Wireless were worth $298,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Macquarie Group Ltd. lifted its holdings 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 during the last quarter. Lindbrook Capital LLC purchased a new stake in shares of Boingo Wireless during the first quarter valued at $96,000. Legal & General Group Plc lifted its holdings 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 during the last quarter. Quantamental Technologies LLC purchased a new stake in shares of Boingo Wireless during the first quarter valued at $179,000. Finally, First Hawaiian Bank purchased a new stake in shares of Boingo Wireless during the fourth quarter valued at $173,000. 97.31% of the stock is owned by institutional investors and hedge funds.
WIFI stock traded down $0.03 during mid-day trading on Thursday, hitting $21.78. The stock had a trading volume of 8,176 shares, compared to its average volume of 553,333. The company has a debt-to-equity ratio of 1.89, a current ratio of 0.95 and a quick ratio of 1.17. Boingo Wireless Inc has a 1-year low of $18.50 and a 1-year high of $35.98. The firm has a market cap of $953.16 million, a P/E ratio of -722.00 and a beta of 1.05.
Boingo Wireless (NASDAQ:WIFI) last issued its earnings results on Wednesday, May 8th. The technology company reported ($0.12) earnings per share for the quarter, missing the consensus estimate of ($0.10) by ($0.02). Boingo Wireless had a negative return on equity of 2.82% and a negative net margin of 1.21%. The firm had revenue of $66.47 million during the quarter, compared to analyst estimates of $65.74 million. As a group, research analysts expect that Boingo Wireless Inc will post -0.39 EPS for the current year.
In other Boingo Wireless news, CFO Peter Hovenier sold 5,000 shares of the company’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $25.05, for a total value of $125,250.00. Following the transaction, the chief financial officer now directly owns 450,723 shares of the company’s stock, valued at approximately $11,290,611.15. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO David Hagan sold 15,000 shares of the company’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $20.56, for a total value of $308,400.00. Following the completion of the transaction, the chief executive officer now directly owns 1,133,375 shares in the company, valued at $23,302,190. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 119,364 shares of company stock worth $2,898,371. Insiders own 3.80% of the company’s stock.
Several research analysts recently weighed in on the company. ValuEngine lowered Boingo Wireless from a “buy” rating to a “hold” rating in a research report on Monday, February 25th. Credit Suisse Group reissued a “buy” rating and set a $35.00 price target on shares of Boingo Wireless in a research report on Monday, January 28th. William Blair reissued an “outperform” rating on shares of Boingo Wireless in a research report on Friday, February 22nd. Craig Hallum reissued a “buy” rating and set a $28.00 price target (down from $36.00) on shares of Boingo Wireless in a research report on Thursday, February 28th. Finally, Roth Capital reissued a “buy” rating on shares of Boingo Wireless in a research report on Friday, March 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and ten have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $32.67.
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 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.
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