Boingo Wireless, Inc. (NASDAQ:WIFI) shares were up 4.8% during mid-day trading on Monday after Oppenheimer Holdings raised their price target on the stock. Oppenheimer Holdings currently has an outperform rating on the stock. Boingo Wireless traded as high as $25.99 and last traded at $23.90. Approximately 508,499 shares changed hands during trading, an increase of 8% from the average daily volume of 468,706 shares. The stock had previously closed at $25.10.

A number of other research analysts have also issued reports on WIFI. Zacks Investment Research lowered Boingo Wireless from a “buy” rating to a “hold” rating in a research report on Friday, July 7th. BidaskClub upgraded Boingo Wireless from a “sell” rating to a “hold” rating in a report on Wednesday, July 12th. Benchmark Co. upped their price objective on Boingo Wireless from $18.00 to $24.00 and gave the company a “buy” rating in a report on Friday, August 4th. Craig Hallum upped their price objective on Boingo Wireless from $17.00 to $20.00 and gave the company a “buy” rating in a report on Friday, August 4th. Finally, Jefferies Group LLC restated a “buy” rating and issued a $20.00 price objective (up previously from $17.00) on shares of Boingo Wireless in a report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. Boingo Wireless presently has a consensus rating of “Buy” and an average price target of $21.37.

In related news, CEO David Hagan sold 60,000 shares of the company’s stock in a transaction on Friday, August 11th. The stock was sold at an average price of $18.39, for a total transaction of $1,103,400.00. Following the transaction, the chief executive officer now directly owns 621,853 shares of the company’s stock, valued at $11,435,876.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Tom Tracey sold 25,000 shares of the company’s stock in a transaction on Wednesday, August 9th. The shares were sold at an average price of $18.45, for a total value of $461,250.00. Following the transaction, the vice president now directly owns 38,276 shares in the company, valued at $706,192.20. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 256,285 shares of company stock valued at $5,029,216. 7.70% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of WIFI. Castleark Management LLC acquired a new position in Boingo Wireless during the second quarter valued at $8,995,000. Russell Investments Group Ltd. increased its position in Boingo Wireless by 64.1% in the 2nd quarter. Russell Investments Group Ltd. now owns 1,239,122 shares of the technology company’s stock worth $18,538,000 after purchasing an additional 484,061 shares during the last quarter. Renaissance Technologies LLC increased its position in Boingo Wireless by 20.1% in the 2nd quarter. Renaissance Technologies LLC now owns 2,330,200 shares of the technology company’s stock worth $34,860,000 after purchasing an additional 389,195 shares during the last quarter. Hood River Capital Management LLC increased its position in Boingo Wireless by 58.1% in the 2nd quarter. Hood River Capital Management LLC now owns 1,043,219 shares of the technology company’s stock worth $15,607,000 after purchasing an additional 383,174 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Boingo Wireless by 19.0% in the 2nd quarter. Vanguard Group Inc. now owns 2,042,944 shares of the technology company’s stock worth $30,563,000 after purchasing an additional 326,791 shares during the last quarter. 88.74% of the stock is currently owned by hedge funds and other institutional investors.

The company has a debt-to-equity ratio of 0.11, a current ratio of 0.47 and a quick ratio of 0.47.

Boingo Wireless (NASDAQ:WIFI) last issued its earnings results on Thursday, November 2nd. The technology company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.04. Boingo Wireless had a negative return on equity of 23.73% and a negative net margin of 11.75%. The company had revenue of $53.66 million for the quarter, compared to analyst estimates of $50.22 million. During the same period in the prior year, the firm posted ($0.15) EPS. The business’s revenue was up 31.5% compared to the same quarter last year. sell-side analysts forecast that Boingo Wireless, Inc. will post -0.66 EPS for the current fiscal year.

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About Boingo Wireless

Boingo Wireless, Inc is a provider of commercial mobile wireless fidelity (Wi-Fi) Internet solutions and indoor direct-attached storage (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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