Boingo Wireless (WIFI) Holdings Reduced by Geode Capital Management LLC

Geode Capital Management LLC lowered its holdings in Boingo Wireless (NASDAQ:WIFI) by 2.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 361,396 shares of the technology company’s stock after selling 10,557 shares during the quarter. Geode Capital Management LLC owned about 0.89% of Boingo Wireless worth $8,131,000 as of its most recent filing with the SEC.

A number of other institutional investors have also bought and sold shares of the business. Bank of New York Mellon Corp lifted its stake in shares of Boingo Wireless by 99.6% during the fourth quarter. Bank of New York Mellon Corp now owns 1,113,217 shares of the technology company’s stock valued at $25,047,000 after acquiring an additional 555,471 shares during the period. Monarch Partners Asset Management LLC lifted its stake in shares of Boingo Wireless by 1,246.2% during the fourth quarter. Monarch Partners Asset Management LLC now owns 310,708 shares of the technology company’s stock valued at $6,991,000 after acquiring an additional 287,628 shares during the period. Allianz Asset Management GmbH lifted its stake in shares of Boingo Wireless by 70.3% during the fourth quarter. Allianz Asset Management GmbH now owns 680,641 shares of the technology company’s stock valued at $15,314,000 after acquiring an additional 280,930 shares during the period. Stephens Investment Management Group LLC lifted its stake in shares of Boingo Wireless by 128.6% during the fourth quarter. Stephens Investment Management Group LLC now owns 497,946 shares of the technology company’s stock valued at $11,204,000 after acquiring an additional 280,089 shares during the period. Finally, Acadian Asset Management LLC lifted its stake in shares of Boingo Wireless by 239.3% during the fourth quarter. Acadian Asset Management LLC now owns 297,365 shares of the technology company’s stock valued at $6,689,000 after acquiring an additional 209,720 shares during the period. 91.12% of the stock is currently owned by institutional investors.

In other Boingo Wireless news, CEO David Hagan sold 19,833 shares of the stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $22.18, for a total value of $439,895.94. Following the transaction, the chief executive officer now owns 606,186 shares of the company’s stock, valued at $13,445,205.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Derek Peterson sold 23,853 shares of the stock in a transaction dated Thursday, March 8th. The shares were sold at an average price of $28.01, for a total value of $668,122.53. The disclosure for this sale can be found here. Insiders sold 374,352 shares of company stock worth $9,439,720 in the last three months. Insiders own 7.70% of the company’s stock.



NASDAQ:WIFI opened at $25.04 on Friday. Boingo Wireless has a 1-year low of $13.00 and a 1-year high of $28.34. The company has a current ratio of 0.48, a quick ratio of 0.48 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $1,029.72, a price-to-earnings ratio of -51.10 and a beta of 0.62.

Boingo Wireless (NASDAQ:WIFI) last released its earnings results on Tuesday, February 27th. The technology company reported ($0.02) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.09. Boingo Wireless had a negative return on equity of 20.09% and a negative net margin of 9.40%. The firm had revenue of $57.35 million for the quarter, compared to analyst estimates of $54.48 million. research analysts anticipate that Boingo Wireless will post -0.41 EPS for the current year.

Several brokerages have recently issued reports on WIFI. Zacks Investment Research raised Boingo Wireless from a “hold” rating to a “buy” rating and set a $30.00 price target on the stock in a research note on Thursday, March 8th. William Blair reaffirmed an “outperform” rating on shares of Boingo Wireless in a research note on Monday, March 12th. Credit Suisse Group reaffirmed an “outperform” rating and set a $32.00 price target (up previously from $27.00) on shares of Boingo Wireless in a research note on Wednesday, February 28th. Jefferies Group upped their price target on Boingo Wireless to $32.00 and gave the company a “buy” rating in a research note on Wednesday, February 28th. Finally, Lake Street Capital reaffirmed a “buy” rating and set a $30.00 price target (up previously from $26.00) on shares of Boingo Wireless in a research note on Wednesday, February 28th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Boingo Wireless has a consensus rating of “Buy” and an average price target of $28.39.

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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. It designs, builds, monitors, and maintains distributed antenna systems (DAS), Wi-Fi, and small cell networks at managed and operated hotspot locations, such as airports, transportation hubs, stadiums, arenas, military bases, universities, convention centers, and office campuses in North America, Latin America, Europe, the Middle East, Africa, and Asia; and offers software applications and solutions to access its Wi-Fi network of approximately 1.5 million hotspots.

Institutional Ownership by Quarter for Boingo Wireless (NASDAQ:WIFI)

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