Boingo Wireless Inc (NASDAQ:WIFI) saw unusually large options trading activity on Monday. Traders acquired 1,044 call options on the company. This represents an increase of approximately 1,205% compared to the average volume of 80 call options.
A number of equities research analysts have issued reports on the stock. BidaskClub raised shares of Boingo Wireless from a “sell” rating to a “hold” rating in a research report on Saturday, February 10th. Roth Capital assumed coverage on shares of Boingo Wireless in a research report on Wednesday, January 17th. They issued a “buy” rating and a $29.00 price objective for the company. Craig Hallum upped their price objective on shares of Boingo Wireless from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. Credit Suisse Group upped their price objective on shares of Boingo Wireless from $24.00 to $26.00 and gave the stock an “outperform” rating in a research report on Friday, November 3rd. Finally, Oppenheimer reaffirmed a “buy” rating and issued a $30.00 price objective on shares of Boingo Wireless in a research report on Wednesday, November 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. Boingo Wireless presently has a consensus rating of “Buy” and a consensus price target of $24.50.
In other Boingo Wireless news, CFO Peter Hovenier sold 25,000 shares of the company’s stock in a transaction dated Thursday, December 14th. The shares were sold at an average price of $23.12, for a total value of $578,000.00. Following the completion of the sale, the chief financial officer now directly owns 6,029 shares of the company’s stock, valued at approximately $139,390.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO David Hagan sold 19,833 shares of the company’s stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $23.00, for a total transaction of $456,159.00. Following the completion of the sale, the chief executive officer now directly owns 606,186 shares of the company’s stock, valued at $13,942,278. The disclosure for this sale can be found here. Insiders sold a total of 220,103 shares of company stock worth $5,053,480 in the last 90 days. 7.70% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can bought a new position in shares of Boingo Wireless during the 3rd quarter valued at approximately $114,000. Royal Bank of Canada grew its position in shares of Boingo Wireless by 1.3% during the 2nd 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 during the period. Advisor Group Inc. grew its position in shares of Boingo Wireless by 781.9% during the 4th quarter. Advisor Group Inc. now owns 8,078 shares of the technology company’s stock valued at $181,000 after acquiring an additional 7,162 shares during the period. UBS Asset Management Americas Inc. bought a new position in shares of Boingo Wireless during the 4th quarter valued at approximately $203,000. Finally, First Republic Investment Management Inc. bought a new position in shares of Boingo Wireless during the 3rd quarter valued at approximately $229,000. 92.07% of the stock is owned by hedge funds and other institutional investors.
Boingo Wireless (WIFI) opened at $25.55 on Tuesday. Boingo Wireless has a 52-week low of $10.46 and a 52-week high of $25.99. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.50 and a current ratio of 0.50.
About Boingo Wireless
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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