State of New Jersey Common Pension Fund D Purchases New Holdings in Boingo Wireless Inc (WIFI)

State of New Jersey Common Pension Fund D acquired a new position in shares of Boingo Wireless Inc (NASDAQ:WIFI) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 90,000 shares of the technology company’s stock, valued at approximately $2,095,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Commonwealth Equity Services LLC increased its position in shares of Boingo Wireless by 1.1% during the fourth quarter. Commonwealth Equity Services LLC now owns 40,110 shares of the technology company’s stock valued at $825,000 after buying an additional 430 shares during the period. Citigroup Inc. raised its holdings in shares of Boingo Wireless by 4.6% during the fourth quarter. Citigroup Inc. now owns 14,096 shares of the technology company’s stock valued at $290,000 after purchasing an additional 621 shares during the last quarter. State Board of Administration of Florida Retirement System raised its holdings in shares of Boingo Wireless by 6.0% during the fourth quarter. State Board of Administration of Florida Retirement System now owns 12,627 shares of the technology company’s stock valued at $260,000 after purchasing an additional 711 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its holdings in shares of Boingo Wireless by 1.7% during the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 45,164 shares of the technology company’s stock valued at $1,051,000 after purchasing an additional 750 shares during the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Boingo Wireless by 13.7% during the fourth quarter. Legal & General Group Plc now owns 7,297 shares of the technology company’s stock valued at $150,000 after purchasing an additional 882 shares during the last quarter. 93.98% of the stock is owned by institutional investors.

WIFI stock traded up $0.16 during trading on Tuesday, hitting $21.83. The company had a trading volume of 3,573 shares, compared to its average volume of 555,665. The company has a market capitalization of $953.16 million, a PE ratio of -723.66 and a beta of 1.05. Boingo Wireless Inc has a 52-week low of $18.50 and a 52-week high of $35.98. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.17 and a quick ratio of 1.17.



Boingo Wireless (NASDAQ:WIFI) last posted its quarterly earnings results on Wednesday, May 8th. The technology company reported ($0.12) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.02). The company had revenue of $66.47 million during the quarter, compared to analysts’ expectations of $65.74 million. Boingo Wireless had a negative return on equity of 2.69% and a negative net margin of 1.21%. Sell-side analysts forecast that Boingo Wireless Inc will post -0.43 EPS for the current fiscal year.

In other Boingo Wireless news, Director David Hagan sold 29,364 shares of the firm’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $25.36, for a total transaction of $744,671.04. Following the transaction, the director now owns 1,103,375 shares of the company’s stock, valued at approximately $27,981,590. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Peter Hovenier sold 45,000 shares of the firm’s stock in a transaction dated Thursday, February 21st. The shares were sold at an average price of $25.21, for a total transaction of $1,134,450.00. Following the transaction, the chief financial officer now directly owns 450,723 shares in the company, valued at approximately $11,362,726.83. The disclosure for this sale can be found here. Insiders have sold a total of 134,364 shares of company stock worth $3,264,821 in the last three months. Insiders own 3.80% of the company’s stock.

WIFI has been the subject of a number of research reports. ValuEngine cut shares of Boingo Wireless from a “buy” rating to a “hold” rating in a report on Monday, February 25th. Credit Suisse Group reaffirmed a “buy” rating and set a $35.00 target price on shares of Boingo Wireless in a report on Monday, January 28th. William Blair reissued an “outperform” rating on shares of Boingo Wireless in a research note on Friday, February 22nd. Craig Hallum reissued a “buy” rating and issued a $28.00 price objective (down from $36.00) on shares of Boingo Wireless in a research note on Thursday, February 28th. Finally, Roth Capital reissued a “buy” rating on shares of Boingo Wireless in a research note on Friday, March 1st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and ten have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $32.67.

COPYRIGHT VIOLATION NOTICE: “State of New Jersey Common Pension Fund D Purchases New Holdings in Boingo Wireless Inc (WIFI)” was originally posted by Dakota Financial News and is the property of of Dakota Financial News. If you are viewing this piece of content on another site, it was illegally copied and republished in violation of US and international trademark and copyright laws. The original version of this piece of content can be viewed at https://dakotafinancialnews.com/2019/05/14/state-of-new-jersey-common-pension-fund-d-purchases-new-holdings-in-boingo-wireless-inc-wifi.html.

Boingo Wireless Company 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: Diluted Earnings Per Share

Want to see what other hedge funds are holding WIFI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Boingo Wireless Inc (NASDAQ:WIFI).

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

Receive News & Ratings for Boingo Wireless Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Boingo Wireless and related companies with MarketBeat.com's FREE daily email newsletter.