Osterweis Capital Management Inc. lifted its stake in Boingo Wireless Inc (NASDAQ:WIFI) by 89.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 161,385 shares of the technology company’s stock after acquiring an additional 76,410 shares during the quarter. Osterweis Capital Management Inc. owned 0.40% of Boingo Wireless worth $3,631,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also bought and sold shares of the company. Great West Life Assurance Co. Can purchased a new stake in Boingo Wireless in the third quarter worth about $114,000. UBS Asset Management Americas Inc. acquired a new position in shares of Boingo Wireless during the fourth quarter valued at about $203,000. Suntrust Banks Inc. acquired a new position in shares of Boingo Wireless during the fourth quarter valued at about $230,000. Royal Bank of Canada increased its holdings in shares of Boingo Wireless by 1.3% during the second quarter. Royal Bank of Canada now owns 10,448 shares of the technology company’s stock valued at $156,000 after acquiring an additional 135 shares in the last quarter. Finally, First Republic Investment Management Inc. acquired a new position in shares of Boingo Wireless during the third quarter valued at about $229,000. 91.80% of the stock is currently owned by institutional investors.
Several equities analysts recently weighed in on WIFI shares. Oppenheimer reiterated a “buy” rating and issued a $30.00 price target on shares of Boingo Wireless in a report on Wednesday, November 15th. BidaskClub upgraded Boingo Wireless from a “hold” rating to a “buy” rating in a research report on Friday, March 2nd. Northland Securities restated a “buy” rating on shares of Boingo Wireless in a report on Thursday, March 1st. Roth Capital started coverage on Boingo Wireless in a research note on Wednesday, January 17th. They issued a “buy” rating and a $29.00 target price for the company. Finally, Jefferies Group raised their price objective on Boingo Wireless to $32.00 and gave the stock a “buy” rating in a research report on Wednesday, February 28th. Two research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Boingo Wireless presently has an average rating of “Buy” and a consensus target price of $28.39.
In related news, CEO David Hagan sold 59,500 shares of the stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $22.10, for a total value of $1,314,950.00. Following the completion of the transaction, the chief executive officer now owns 606,186 shares of the company’s stock, valued at $13,396,710.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Derek Peterson sold 23,853 shares of the stock in a transaction that occurred on Thursday, March 8th. The stock was 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 have sold 307,519 shares of company stock worth $7,504,517 over the last quarter. 7.70% of the stock is currently owned by company insiders.
Boingo Wireless Inc (WIFI) traded up $0.47 on Wednesday, reaching $27.75. The company’s stock had a trading volume of 351,210 shares, compared to its average volume of 433,682. Boingo Wireless Inc has a one year low of $11.96 and a one year high of $28.34. The stock has a market capitalization of $1,128.85, a P/E ratio of -56.65 and a beta of 0.49. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.50 and a current ratio of 0.50.
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Boingo Wireless 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.
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