Insider Selling: Boingo Wireless Inc (WIFI) CEO Sells 19,833 Shares of Stock

Boingo Wireless Inc (NASDAQ:WIFI) CEO David Hagan sold 19,833 shares of the firm’s stock in a transaction on Tuesday, August 14th. The shares were sold at an average price of $30.96, for a total value of $614,029.68. Following the transaction, the chief executive officer now directly owns 606,481 shares in the company, valued at $18,776,651.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

David Hagan also recently made the following trade(s):

  • On Thursday, August 16th, David Hagan sold 59,500 shares of Boingo Wireless stock. The shares were sold at an average price of $31.01, for a total value of $1,845,095.00.
  • On Friday, July 13th, David Hagan sold 19,833 shares of Boingo Wireless stock. The shares were sold at an average price of $23.74, for a total value of $470,835.42.
  • On Monday, July 16th, David Hagan sold 59,500 shares of Boingo Wireless stock. The shares were sold at an average price of $23.44, for a total value of $1,394,680.00.
  • On Tuesday, June 12th, David Hagan sold 19,833 shares of Boingo Wireless stock. The shares were sold at an average price of $23.62, for a total value of $468,455.46.
  • On Thursday, June 14th, David Hagan sold 59,500 shares of Boingo Wireless stock. The shares were sold at an average price of $23.79, for a total value of $1,415,505.00.

NASDAQ:WIFI traded up $0.42 during mid-day trading on Thursday, reaching $31.15. 374,900 shares of the stock were exchanged, compared to its average volume of 468,230. The firm has a market cap of $1.29 billion, a P/E ratio of -63.57 and a beta of 0.38. Boingo Wireless Inc has a 1-year low of $18.87 and a 1-year high of $33.20. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.07.

Boingo Wireless (NASDAQ:WIFI) last released its earnings results on Wednesday, August 1st. The technology company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.19. The firm had revenue of $59.60 million for the quarter, compared to analyst estimates of $56.52 million. Boingo Wireless had a negative return on equity of 5.51% and a negative net margin of 2.44%. Boingo Wireless’s revenue was up 21.6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.20) earnings per share. sell-side analysts expect that Boingo Wireless Inc will post -0.18 EPS for the current year.

A number of research analysts have recently commented on WIFI shares. ValuEngine lowered Boingo Wireless from a “strong-buy” rating to a “buy” rating in a report on Tuesday, May 22nd. BidaskClub raised Boingo Wireless from a “hold” rating to a “buy” rating in a report on Friday, August 3rd. Roth Capital set a $32.00 price target on Boingo Wireless and gave the company a “buy” rating in a report on Thursday, August 2nd. Craig Hallum raised their price target on Boingo Wireless from $30.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, August 2nd. Finally, Zacks Investment Research raised Boingo Wireless from a “sell” rating to a “hold” rating in a report on Friday, August 3rd. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $31.00.

Large investors have recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System acquired a new position in Boingo Wireless during the first quarter worth about $213,000. GSA Capital Partners LLP acquired a new position in Boingo Wireless during the second quarter worth about $228,000. Bank of Montreal Can grew its holdings in Boingo Wireless by 557.7% during the second quarter. Bank of Montreal Can now owns 10,529 shares of the technology company’s stock worth $238,000 after acquiring an additional 8,928 shares during the period. Sei Investments Co. acquired a new position in Boingo Wireless during the first quarter worth about $290,000. Finally, Fox Run Management L.L.C. acquired a new position in Boingo Wireless during the second quarter worth about $302,000. 95.98% of the stock is currently owned by hedge funds and other institutional investors.

Boingo Wireless Company Profile

Boingo Wireless, Inc, together with its subsidiaries, provides wireless connectivity solutions for smartphones, tablets, laptops, wearables, and other wireless-enabled consumer devices. It designs, builds, monitors, and maintains distributed antenna systems (DAS), Wi-Fi, and small cell networks at managed and operated hotspot locations, such as airports, transportation hubs, stadiums, arenas, military bases, universities, convention centers, and office campuses in North America, Latin America, Europe, the Middle East, Africa, and Asia; and offers software applications and solutions to access its Wi-Fi network of approximately 1.5 million hotspots.

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

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