Boingo Wireless (WIFI) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Boingo Wireless (NASDAQ:WIFI) from a sell rating to a hold rating in a research note released on Friday morning.
According to Zacks, “Boingo Wireless, Inc. is a Wi-Fi software and services provider. Boingo users can access the mobile Internet via Boingo Network locations that include the airports, hotel chains, cafés and coffee shops, restaurants, convention centers and metropolitan hot zones. The company provides its solutions to individual users and partners consisting of telecom operators, network operators, cable companies, technology companies, enterprise software and services companies, and communications companies. Boingo Wireless, Inc. is headquartered in Los Angeles, California. “
Other equities analysts also recently issued research reports about the stock. Northland Securities reissued a buy rating on shares of Boingo Wireless in a research note on Thursday. Craig Hallum upped their price objective on shares of Boingo Wireless from $28.00 to $30.00 and gave the company a buy rating in a research note on Wednesday, February 28th. Lake Street Capital reissued a buy rating and set a $30.00 price objective (up previously from $26.00) on shares of Boingo Wireless in a research note on Wednesday, February 28th. BidaskClub raised shares of Boingo Wireless from a sell rating to a hold rating in a research note on Thursday, December 21st. Finally, Oppenheimer upped their price objective on shares of Boingo Wireless and gave the company an outperform rating in a research note on Friday, November 3rd. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Boingo Wireless currently has a consensus rating of Buy and an average target price of $27.72.
In related news, insider Dawn Callahan sold 11,437 shares of the firm’s stock in a transaction on Wednesday, December 13th. The shares were sold at an average price of $22.85, for a total transaction of $261,335.45. Following the completion of the sale, the insider now directly owns 11,370 shares of the company’s stock, valued at approximately $259,804.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO David Hagan sold 59,500 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $23.12, for a total transaction of $1,375,640.00. Following the sale, the chief executive officer now directly owns 606,186 shares of the company’s stock, valued at $14,015,020.32. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 195,103 shares of company stock worth $4,425,980. 7.70% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. grew its holdings in Boingo Wireless by 4.0% during the 4th quarter. BlackRock Inc. now owns 3,755,061 shares of the technology company’s stock valued at $84,487,000 after purchasing an additional 144,367 shares in the last quarter. Renaissance Technologies LLC grew its holdings in Boingo Wireless by 15.2% during the 4th quarter. Renaissance Technologies LLC now owns 3,001,000 shares of the technology company’s stock valued at $67,523,000 after purchasing an additional 395,200 shares in the last quarter. Vanguard Group Inc. grew its holdings in Boingo Wireless by 19.0% during the 2nd quarter. Vanguard Group Inc. now owns 2,042,944 shares of the technology company’s stock valued at $30,563,000 after purchasing an additional 326,791 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Boingo Wireless by 2.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,995,174 shares of the technology company’s stock worth $42,638,000 after acquiring an additional 42,749 shares in the last quarter. Finally, Hood River Capital Management LLC grew its holdings in Boingo Wireless by 8.4% during the 4th quarter. Hood River Capital Management LLC now owns 1,155,233 shares of the technology company’s stock worth $25,993,000 after acquiring an additional 89,465 shares in the last quarter. 92.32% of the stock is owned by institutional investors and hedge funds.
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Boingo Wireless Company Profile
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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