Boingo Wireless, Inc. (WIFI) Shares Bought by Schwab Charles Investment Management Inc.

Schwab Charles Investment Management Inc. grew its holdings in shares of Boingo Wireless, Inc. (NASDAQ:WIFI) by 22.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 63,100 shares of the technology company’s stock after acquiring an additional 11,600 shares during the quarter. Schwab Charles Investment Management Inc. owned about 0.16% of Boingo Wireless worth $944,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Alliancebernstein L.P. boosted its position in shares of Boingo Wireless by 4.8% during the 1st quarter. Alliancebernstein L.P. now owns 26,400 shares of the technology company’s stock valued at $343,000 after acquiring an additional 1,200 shares during the last quarter. American International Group Inc. boosted its position in shares of Boingo Wireless by 7.1% during the 1st quarter. American International Group Inc. now owns 21,925 shares of the technology company’s stock valued at $285,000 after acquiring an additional 1,444 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of Boingo Wireless by 9.7% during the 1st quarter. Renaissance Technologies LLC now owns 1,941,005 shares of the technology company’s stock valued at $25,214,000 after acquiring an additional 172,305 shares during the last quarter. Teachers Advisors LLC boosted its position in shares of Boingo Wireless by 2.8% during the 1st quarter. Teachers Advisors LLC now owns 96,931 shares of the technology company’s stock valued at $1,259,000 after acquiring an additional 2,664 shares during the last quarter. Finally, Stifel Financial Corp boosted its position in shares of Boingo Wireless by 3.7% during the 1st quarter. Stifel Financial Corp now owns 15,778 shares of the technology company’s stock valued at $205,000 after acquiring an additional 559 shares during the last quarter. Hedge funds and other institutional investors own 88.63% of the company’s stock.

Boingo Wireless, Inc. (NASDAQ:WIFI) opened at 22.45 on Tuesday. The company’s 50 day moving average price is $21.67 and its 200-day moving average price is $17.78. Boingo Wireless, Inc. has a one year low of $9.41 and a one year high of $23.38. The stock’s market capitalization is $900.45 million.

Boingo Wireless (NASDAQ:WIFI) last announced its quarterly earnings results on Thursday, August 3rd. The technology company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.17) by ($0.03). Boingo Wireless had a negative net margin of 13.85% and a negative return on equity of 25.82%. The firm had revenue of $49.00 million for the quarter, compared to the consensus estimate of $46.23 million. During the same period in the previous year, the company posted ($0.19) earnings per share. Boingo Wireless’s quarterly revenue was up 25.3% on a year-over-year basis. Analysts expect that Boingo Wireless, Inc. will post ($0.62) earnings per share for the current year.

A number of analysts have recently issued reports on the company. Benchmark Co. lifted their price target on Boingo Wireless from $18.00 to $24.00 and gave the company a “buy” rating in a research report on Friday, August 4th. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $24.00 price target (up previously from $18.00) on shares of Boingo Wireless in a research report on Wednesday, August 9th. Zacks Investment Research upgraded Boingo Wireless from a “hold” rating to a “buy” rating and set a $24.00 price target for the company in a research report on Thursday, October 5th. Jefferies Group LLC reiterated a “buy” rating and set a $20.00 price target (up previously from $17.00) on shares of Boingo Wireless in a research report on Wednesday, August 9th. Finally, BidaskClub downgraded Boingo Wireless from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $19.15.

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In related news, CEO David Hagan sold 25,000 shares of the stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $15.08, for a total transaction of $377,000.00. Following the completion of the transaction, the chief executive officer now directly owns 621,853 shares of the company’s stock, valued at $9,377,543.24. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Peter Hovenier sold 18,552 shares of the stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $21.31, for a total value of $395,343.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 395,778 shares of company stock valued at $7,263,749. 7.70% of the stock is owned by corporate insiders.

Boingo Wireless Company Profile

Boingo Wireless, Inc is a provider of commercial mobile wireless fidelity (Wi-Fi) Internet solutions and indoor direct-attached storage (DAS) services. The Company operates as a service provider of wireless connectivity solutions across its managed and operated network and aggregated network for mobile devices such as laptops, smartphones, tablets and other wireless-enabled consumer devices.

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

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