Boingo Wireless Inc (NASDAQ:WIFI) CTO Sells $119,869.35 in Stock

Boingo Wireless Inc (NASDAQ:WIFI) CTO Derek Peterson sold 9,285 shares of the stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $12.91, for a total transaction of $119,869.35. Following the completion of the sale, the chief technology officer now owns 51,091 shares of the company’s stock, valued at $659,584.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Boingo Wireless stock opened at $13.67 on Thursday. Boingo Wireless Inc has a 12-month low of $6.66 and a 12-month high of $19.58. The stock has a market cap of $561.61 million, a P/E ratio of -62.14 and a beta of 1.17. The company has a 50-day moving average price of $13.37 and a 200 day moving average price of $12.33. The company has a current ratio of 1.39, a quick ratio of 1.39 and a debt-to-equity ratio of 3.17.

Boingo Wireless (NASDAQ:WIFI) last released its quarterly earnings data on Tuesday, May 5th. The technology company reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.03). Boingo Wireless had a negative return on equity of 10.45% and a negative net margin of 3.80%. The firm had revenue of $59.89 million for the quarter, compared to analyst estimates of $63.71 million. As a group, analysts forecast that Boingo Wireless Inc will post -0.32 EPS for the current year.

A number of brokerages have recently commented on WIFI. Oppenheimer reiterated a “hold” rating on shares of Boingo Wireless in a research report on Tuesday, May 5th. Craig Hallum reduced their target price on shares of Boingo Wireless from $22.00 to $18.00 and set a “buy” rating for the company in a research report on Wednesday, May 6th. Credit Suisse Group reiterated a “buy” rating and issued a $20.00 target price on shares of Boingo Wireless in a research report on Wednesday, May 6th. ValuEngine upgraded shares of Boingo Wireless from a “hold” rating to a “buy” rating in a research report on Friday, May 1st. Finally, BidaskClub upgraded shares of Boingo Wireless from a “sell” rating to a “hold” rating in a research report on Tuesday, March 24th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $18.30.

A number of institutional investors have recently added to or reduced their stakes in WIFI. Victory Capital Management Inc. boosted its stake in Boingo Wireless by 3.9% during the fourth quarter. Victory Capital Management Inc. now owns 2,996,482 shares of the technology company’s stock worth $32,811,000 after buying an additional 113,253 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Boingo Wireless by 2.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 267,244 shares of the technology company’s stock worth $2,927,000 after buying an additional 6,160 shares during the period. Great West Life Assurance Co. Can purchased a new position in Boingo Wireless during the fourth quarter worth about $30,000. Panagora Asset Management Inc. boosted its stake in Boingo Wireless by 1,280.1% during the fourth quarter. Panagora Asset Management Inc. now owns 34,503 shares of the technology company’s stock worth $377,000 after buying an additional 32,003 shares during the period. Finally, Trexquant Investment LP boosted its stake in Boingo Wireless by 144.3% during the fourth quarter. Trexquant Investment LP now owns 25,769 shares of the technology company’s stock worth $282,000 after buying an additional 15,219 shares during the period. Hedge funds and other institutional investors own 92.41% of the company’s stock.

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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