Boingo Wireless Inc (NASDAQ:WIFI) Shares Sold by Stephens Investment Management Group LLC

Stephens Investment Management Group LLC trimmed its position in shares of Boingo Wireless Inc (NASDAQ:WIFI) by 1.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 957,241 shares of the technology company’s stock after selling 18,778 shares during the quarter. Stephens Investment Management Group LLC owned 2.15% of Boingo Wireless worth $12,750,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Charles Schwab Investment Management Inc. grew its position in Boingo Wireless by 8.6% during the second quarter. Charles Schwab Investment Management Inc. now owns 294,467 shares of the technology company’s stock worth $3,923,000 after buying an additional 23,233 shares during the period. Intrinsic Edge Capital Management LLC acquired a new position in Boingo Wireless during the second quarter worth about $6,692,000. Jacobs Levy Equity Management Inc. grew its position in Boingo Wireless by 24.1% during the second quarter. Jacobs Levy Equity Management Inc. now owns 258,827 shares of the technology company’s stock worth $3,448,000 after buying an additional 50,340 shares during the period. Verition Fund Management LLC acquired a new position in Boingo Wireless during the second quarter worth about $158,000. Finally, PDT Partners LLC grew its position in Boingo Wireless by 170.5% during the second quarter. PDT Partners LLC now owns 81,423 shares of the technology company’s stock worth $1,085,000 after buying an additional 51,323 shares during the period. Institutional investors and hedge funds own 89.16% of the company’s stock.

Shares of NASDAQ WIFI traded up $0.32 on Wednesday, hitting $11.78. The company’s stock had a trading volume of 9,226 shares, compared to its average volume of 641,391. Boingo Wireless Inc has a 12-month low of $6.66 and a 12-month high of $15.92. The company has a market capitalization of $509.60 million, a price-to-earnings ratio of -32.74 and a beta of 0.95. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.94 and a quick ratio of 0.94. The stock has a 50 day moving average of $13.41 and a 200-day moving average of $12.78.

Boingo Wireless (NASDAQ:WIFI) last announced its quarterly earnings data on Tuesday, August 4th. The technology company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.08) by ($0.05). The firm had revenue of $58.67 million for the quarter, compared to analysts’ expectations of $61.32 million. Boingo Wireless had a negative net margin of 6.40% and a negative return on equity of 17.43%. Sell-side analysts expect that Boingo Wireless Inc will post -0.44 EPS for the current fiscal year.

Several research analysts have weighed in on WIFI shares. ValuEngine lowered shares of Boingo Wireless from a “buy” rating to a “hold” rating in a research report on Saturday, August 1st. BidaskClub lowered shares of Boingo Wireless from a “hold” rating to a “sell” rating in a research report on Thursday, August 6th. Zacks Investment Research upgraded shares of Boingo Wireless from a “sell” rating to a “hold” rating in a research report on Saturday, July 11th. LADENBURG THALM/SH SH upped their price target on shares of Boingo Wireless from $20.50 to $22.00 and gave the company a “buy” rating in a report on Wednesday, August 5th. Finally, Jefferies Financial Group reaffirmed a “buy” rating and issued a $22.00 price target on shares of Boingo Wireless in a report on Sunday, August 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $18.86.

In related news, CTO Derek Peterson sold 9,285 shares of the company’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $12.91, for a total transaction of $119,869.35. Following the transaction, the chief technology officer now owns 51,091 shares of the company’s stock, valued at $659,584.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Dawn Callahan sold 23,170 shares of the company’s stock in a transaction that occurred on Monday, July 13th. The shares were sold at an average price of $14.00, for a total transaction of $324,380.00. The disclosure for this sale can be found here. Corporate insiders own 4.30% of the company’s stock.

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.

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

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