134,413 Shares in Boingo Wireless Inc (NASDAQ:WIFI) Bought by Jacobs Levy Equity Management Inc.
Jacobs Levy Equity Management Inc. acquired a new position in shares of Boingo Wireless Inc (NASDAQ:WIFI) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 134,413 shares of the technology company’s stock, valued at approximately $1,472,000.
Several other large investors have also recently made changes to their positions in WIFI. Great West Life Assurance Co. Can purchased a new stake in shares of Boingo Wireless during the fourth quarter worth $30,000. Alpine Global Management LLC purchased a new stake in shares of Boingo Wireless during the fourth quarter worth $120,000. Mission Wealth Management LP purchased a new stake in shares of Boingo Wireless during the fourth quarter worth $129,000. Man Group plc purchased a new stake in shares of Boingo Wireless during the third quarter worth $132,000. Finally, Cornerstone Investment Partners LLC bought a new position in Boingo Wireless during the fourth quarter valued at about $148,000. Institutional investors and hedge funds own 95.67% of the company’s stock.
WIFI has been the topic of several recent research reports. Zacks Investment Research lowered Boingo Wireless from a “buy” rating to a “hold” rating in a report on Friday, March 6th. Oppenheimer raised their target price on Boingo Wireless from $15.00 to $18.00 and gave the company an “outperform” rating in a report on Tuesday, March 3rd. BidaskClub upgraded Boingo Wireless from a “sell” rating to a “hold” rating in a report on Tuesday. ValuEngine lowered Boingo Wireless from a “buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Finally, William Blair restated an “outperform” rating on shares of Boingo Wireless in a report on Wednesday, February 26th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $20.92.
Boingo Wireless (NASDAQ:WIFI) last posted its earnings results on Monday, March 2nd. The technology company reported ($0.12) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.11) by ($0.01). The company had revenue of $64.06 million for the quarter, compared to the consensus estimate of $69.74 million. Boingo Wireless had a negative net margin of 3.90% and a negative return on equity of 10.85%. Boingo Wireless’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter last year, the business earned ($0.01) earnings per share. On average, equities analysts expect that Boingo Wireless Inc will post -0.14 EPS for the current year.
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.
Further Reading: Hang Seng Index (HSI)
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