Michael Finley Sells 14,493 Shares of Boingo Wireless, Inc. (NASDAQ:WIFI) Stock

Boingo Wireless, Inc. (NASDAQ:WIFI) Director Michael Finley sold 14,493 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $18.08, for a total transaction of $262,033.44. Following the completion of the transaction, the director now owns 60,498 shares in the company, valued at approximately $1,093,803.84. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Shares of Boingo Wireless, Inc. (WIFI) opened at 18.41 on Friday. Boingo Wireless, Inc. has a 1-year low of $8.10 and a 1-year high of $19.42. The stock has a 50 day moving average of $15.73 and a 200 day moving average of $14.14. The company’s market cap is $738.41 million.

Boingo Wireless (NASDAQ:WIFI) last announced its quarterly earnings data on Thursday, August 3rd. The technology company reported ($0.20) EPS for the quarter, missing the consensus estimate of ($0.17) by $0.03. The firm had revenue of $49 million for the quarter, compared to analysts’ expectations of $46.23 million. Boingo Wireless had a negative net margin of 13.85% and a negative return on equity of 25.82%. The business’s quarterly revenue was up 25.3% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.19) EPS. Analysts predict that Boingo Wireless, Inc. will post ($0.64) EPS for the current year.

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WIFI has been the topic of a number of recent analyst reports. Credit Suisse Group restated a “buy” rating and issued a $16.00 price target on shares of Boingo Wireless in a research report on Tuesday, April 18th. Benchmark Co. initiated coverage on shares of Boingo Wireless in a research report on Tuesday, April 25th. They issued a “buy” rating and a $18.00 price target on the stock. Zacks Investment Research downgraded shares of Boingo Wireless from a “buy” rating to a “hold” rating in a research report on Friday, July 7th. Craig Hallum boosted their price target on shares of Boingo Wireless from $13.00 to $17.00 and gave the stock a “buy” rating in a research report on Monday, May 15th. Finally, Ladenburg Thalmann Financial Services lifted their price objective on shares of Boingo Wireless from $16.85 to $18.50 and gave the company a “buy” rating in a research note on Thursday, May 25th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and seven have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $17.93.

Institutional investors have recently made changes to their positions in the stock. Virginia Retirement Systems ET AL purchased a new position in shares of Boingo Wireless during the first quarter valued at approximately $134,000. Cambria Investment Management L.P. purchased a new position in shares of Boingo Wireless during the first quarter valued at approximately $136,000. Legal & General Group Plc raised its position in shares of Boingo Wireless by 3.9% in the second quarter. Legal & General Group Plc now owns 9,149 shares of the technology company’s stock valued at $137,000 after buying an additional 341 shares in the last quarter. Reliance Trust Co. of Delaware raised its position in shares of Boingo Wireless by 9.6% in the first quarter. Reliance Trust Co. of Delaware now owns 11,339 shares of the technology company’s stock valued at $147,000 after buying an additional 990 shares in the last quarter. Finally, UBS Asset Management Americas Inc. purchased a new position in shares of Boingo Wireless during the first quarter valued at approximately $159,000. 86.35% of the stock is owned by institutional investors and hedge funds.

About Boingo Wireless

Boingo Wireless, Inc is a provider of commercial mobile wireless fidelity (Wi-Fi) Internet solutions and indoor Distributed Antenna System (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.

Insider Buying and Selling by Quarter for Boingo Wireless (NASDAQ:WIFI)

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