Rhumbline Advisers Reduces Stake in Boingo Wireless Inc (NASDAQ:WIFI)

Rhumbline Advisers decreased its holdings in Boingo Wireless Inc (NASDAQ:WIFI) by 1.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 53,279 shares of the technology company’s stock after selling 946 shares during the period. Rhumbline Advisers owned 0.12% of Boingo Wireless worth $1,240,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Commonwealth Equity Services LLC boosted its position in shares of Boingo Wireless by 1.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 40,110 shares of the technology company’s stock valued at $825,000 after acquiring an additional 430 shares during the period. Citigroup Inc. lifted its position in Boingo Wireless by 4.6% during the fourth quarter. Citigroup Inc. now owns 14,096 shares of the technology company’s stock valued at $290,000 after purchasing an additional 621 shares during the last quarter. State Board of Administration of Florida Retirement System lifted its position in Boingo Wireless by 6.0% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 12,627 shares of the technology company’s stock valued at $260,000 after purchasing an additional 711 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its position in Boingo Wireless by 1.7% during the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 45,164 shares of the technology company’s stock valued at $1,051,000 after purchasing an additional 750 shares during the last quarter. Finally, Legal & General Group Plc lifted its position in 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.

In other news, insider Derek Peterson sold 11,628 shares of the company’s stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $21.77, for a total value of $253,141.56. Following the transaction, the insider now owns 57,447 shares of the company’s stock, valued at approximately $1,250,621.19. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director David Hagan sold 29,364 shares of the company’s stock in a transaction on Friday, April 12th. The shares were sold at an average price of $25.36, for a total value of $744,671.04. Following the completion of the transaction, the director now directly owns 1,103,375 shares in the company, valued at approximately $27,981,590. The disclosure for this sale can be found here. Insiders have sold 55,992 shares of company stock worth $1,361,413 in the last three months. 4.50% of the stock is currently owned by corporate insiders.

Shares of WIFI stock traded up $0.41 during mid-day trading on Monday, reaching $18.38. 498,800 shares of the company’s stock traded hands, compared to its average volume of 550,382. The firm has a market cap of $790.41 million, a P/E ratio of -604.67 and a beta of 1.06. The firm’s 50-day simple moving average is $19.71. Boingo Wireless Inc has a 12 month low of $17.14 and a 12 month high of $35.98. The company has a current ratio of 0.95, a quick ratio of 0.95 and a debt-to-equity ratio of 1.89.

Boingo Wireless (NASDAQ:WIFI) last posted its earnings results on Wednesday, May 8th. The technology company reported ($0.12) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.02). The company had revenue of $66.47 million during the quarter, compared to analysts’ expectations of $65.74 million. Boingo Wireless had a negative net margin of 1.21% and a negative return on equity of 2.82%. On average, sell-side analysts expect that Boingo Wireless Inc will post -0.38 EPS for the current year.

Several research analysts have commented on the stock. BidaskClub raised shares of Boingo Wireless from a “hold” rating to a “buy” rating in a research note on Thursday, April 11th. Northland Securities started coverage on shares of Boingo Wireless in a research note on Monday, April 22nd. They issued a “buy” rating and a $30.00 target price on the stock. William Blair reaffirmed a “buy” rating on shares of Boingo Wireless in a research note on Thursday, March 28th. Zacks Investment Research raised shares of Boingo Wireless from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research note on Thursday, May 2nd. Finally, Craig Hallum reaffirmed a “buy” rating and issued a $29.00 target price (up from $28.00) on shares of Boingo Wireless in a research note on Thursday, May 9th. One research analyst has rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $32.67.

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.

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

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