CAPROCK Group Inc. Has $263,000 Position in Boingo Wireless, Inc. (NASDAQ:WIFI)
CAPROCK Group Inc. increased its position in shares of Boingo Wireless, Inc. (NASDAQ:WIFI) by 52.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 17,583 shares of the technology company’s stock after buying an additional 6,060 shares during the period. CAPROCK Group Inc.’s holdings in Boingo Wireless were worth $263,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp raised its stake 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 period. Airain ltd bought a new stake in Boingo Wireless during the first quarter worth $333,000. Reliance Trust Co. of Delaware raised its stake in Boingo Wireless by 9.6% in the first quarter. Reliance Trust Co. of Delaware now owns 11,339 shares of the technology company’s stock worth $147,000 after buying an additional 990 shares during the period. Spark Investment Management LLC raised its stake in Boingo Wireless by 107.1% in the first quarter. Spark Investment Management LLC now owns 242,500 shares of the technology company’s stock worth $3,150,000 after buying an additional 125,400 shares during the period. Finally, Schroder Investment Management Group raised its stake in Boingo Wireless by 68.8% in the first quarter. Schroder Investment Management Group now owns 31,049 shares of the technology company’s stock worth $406,000 after buying an additional 12,650 shares during the period. 89.01% of the stock is owned by hedge funds and other institutional investors.
Boingo Wireless (NASDAQ:WIFI) last released its earnings results on Thursday, August 3rd. The technology company reported ($0.20) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.17) by $0.03. The company had revenue of $49 million for the quarter, compared to the consensus estimate of $46.23 million. Boingo Wireless had a negative net margin of 13.85% and a negative return on equity of 25.52%. The business’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.19) EPS.
A number of analysts have recently weighed in on WIFI shares. Credit Suisse Group reissued a “buy” rating and set a $16.00 price objective on shares of Boingo Wireless in a research note on Tuesday, April 18th. Zacks Investment Research lowered Boingo Wireless from a “buy” rating to a “hold” rating in a research note on Friday, July 7th. Craig Hallum increased their price objective on Boingo Wireless from $17.00 to $20.00 and gave the company a “buy” rating in a research note on Friday. BidaskClub lowered Boingo Wireless from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, Benchmark Co. started coverage on Boingo Wireless in a research note on Tuesday, April 25th. They set a “buy” rating and a $18.00 price objective for the company. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Boingo Wireless presently has an average rating of “Hold” and a consensus target price of $16.26.
In other news, VP Tom Tracey sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $16.87, for a total transaction of $168,700.00. Following the transaction, the vice president now owns 40,022 shares of the company’s stock, valued at approximately $675,171.14. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Peter Hovenier sold 10,237 shares of the business’s stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $15.86, for a total value of $162,358.82. Following the transaction, the chief financial officer now directly owns 49,730 shares in the company, valued at approximately $788,717.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,132,777 shares of company stock worth $17,590,592. Corporate insiders own 7.70% of the company’s stock.
About Boingo Wireless
Boingo Wireless, Inc is a provider of commercial mobile wireless fidelity (Wi-Fi) Internet solutions and indoor Distributed Antenna System (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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