Vanguard Group Inc. Increases Position in Boingo Wireless Inc (NASDAQ:WIFI)

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Vanguard Group Inc. grew its stake in Boingo Wireless Inc (NASDAQ:WIFI) by 3.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,496,812 shares of the technology company’s stock after acquiring an additional 127,674 shares during the quarter. Vanguard Group Inc. owned about 0.08% of Boingo Wireless worth $62,837,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in WIFI. Lindbrook Capital LLC increased its holdings in shares of Boingo Wireless by 48.2% in the 2nd quarter. Lindbrook Capital LLC now owns 6,150 shares of the technology company’s stock valued at $110,000 after acquiring an additional 2,000 shares during the period. Tower Research Capital LLC TRC purchased a new position in shares of Boingo Wireless in the 2nd quarter valued at $151,000. BNP Paribas Arbitrage SA increased its holdings in shares of Boingo Wireless by 25.9% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 10,756 shares of the technology company’s stock valued at $193,000 after acquiring an additional 2,216 shares during the period. Mission Wealth Management LP purchased a new position in shares of Boingo Wireless in the 1st quarter valued at $240,000. Finally, New Jersey Better Educational Savings Trust increased its holdings in shares of Boingo Wireless by 7.7% in the 2nd quarter. New Jersey Better Educational Savings Trust now owns 14,000 shares of the technology company’s stock valued at $252,000 after acquiring an additional 1,000 shares during the period.

In other Boingo Wireless news, CEO Michael Finley bought 10,000 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average cost of $11.00 per share, for a total transaction of $110,000.00. Following the purchase, the chief executive officer now directly owns 61,873 shares in the company, valued at $680,603. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Peter Hovenier sold 5,000 shares of the business’s stock in a transaction on Monday, July 15th. The stock was sold at an average price of $17.80, for a total value of $89,000.00. Following the transaction, the chief financial officer now owns 380,723 shares in the company, valued at $6,776,869.40. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 149,941 shares of company stock worth $2,657,472. 3.80% of the stock is owned by company insiders.

Shares of WIFI stock opened at $9.49 on Friday. Boingo Wireless Inc has a 1-year low of $9.24 and a 1-year high of $33.79. The stock’s fifty day moving average price is $11.97 and its 200 day moving average price is $17.54. The company has a debt-to-equity ratio of 1.88, a quick ratio of 1.00 and a current ratio of 1.00.

A number of research analysts have recently issued reports on the company. Oppenheimer cut their price target on Boingo Wireless to $23.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Credit Suisse Group set a $28.00 price target on Boingo Wireless and gave the company a “buy” rating in a report on Friday, August 2nd. Craig Hallum cut their price target on Boingo Wireless from $29.00 to $22.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. ValuEngine upgraded Boingo Wireless from a “sell” rating to a “hold” rating in a report on Friday, August 2nd. Finally, Zacks Investment Research downgraded Boingo Wireless from a “strong-buy” rating to a “hold” rating and set a $11.00 price target on the stock. in a report on Saturday, October 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company. Boingo Wireless has a consensus rating of “Buy” and an average price target of $27.88.

About Boingo Wireless

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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