Peter Hovenier Sells 45,000 Shares of Boingo Wireless Inc (WIFI) Stock

Boingo Wireless Inc (NASDAQ:WIFI) CFO Peter Hovenier sold 45,000 shares of the firm’s stock in a transaction dated Thursday, February 21st. The stock was sold at an average price of $25.21, for a total transaction of $1,134,450.00. Following the sale, the chief financial officer now owns 450,723 shares of the company’s stock, valued at $11,362,726.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Peter Hovenier also recently made the following trade(s):

  • On Tuesday, February 19th, Peter Hovenier sold 5,000 shares of Boingo Wireless stock. The stock was sold at an average price of $25.05, for a total transaction of $125,250.00.
  • On Tuesday, February 12th, Peter Hovenier sold 5,000 shares of Boingo Wireless stock. The stock was sold at an average price of $24.33, for a total transaction of $121,650.00.
  • On Thursday, February 14th, Peter Hovenier sold 15,000 shares of Boingo Wireless stock. The stock was sold at an average price of $24.43, for a total transaction of $366,450.00.
  • On Thursday, February 7th, Peter Hovenier sold 5,000 shares of Boingo Wireless stock. The stock was sold at an average price of $23.95, for a total transaction of $119,750.00.
  • On Tuesday, February 5th, Peter Hovenier sold 5,000 shares of Boingo Wireless stock. The stock was sold at an average price of $23.95, for a total transaction of $119,750.00.

Shares of WIFI traded down $1.23 during trading on Thursday, reaching $24.82. 367,110 shares of the company traded hands, compared to its average volume of 270,375. Boingo Wireless Inc has a twelve month low of $18.50 and a twelve month high of $35.98. The stock has a market cap of $1.11 billion, a PE ratio of -50.65 and a beta of 1.07. The company has a debt-to-equity ratio of 0.06, a current ratio of 0.29 and a quick ratio of 0.29.

Several institutional investors and hedge funds have recently made changes to their positions in WIFI. Bank of New York Mellon Corp increased its position in shares of Boingo Wireless by 17.2% during the second quarter. Bank of New York Mellon Corp now owns 1,572,857 shares of the technology company’s stock valued at $35,531,000 after acquiring an additional 230,914 shares during the last quarter. Northern Trust Corp increased its position in shares of Boingo Wireless by 8.3% during the second quarter. Northern Trust Corp now owns 538,077 shares of the technology company’s stock valued at $12,156,000 after acquiring an additional 41,243 shares during the last quarter. Oppenheimer & Co. Inc. acquired a new stake in shares of Boingo Wireless during the third quarter valued at about $348,000. EULAV Asset Management increased its position in shares of Boingo Wireless by 40.7% during the third quarter. EULAV Asset Management now owns 31,100 shares of the technology company’s stock valued at $1,085,000 after acquiring an additional 9,000 shares during the last quarter. Finally, Public Employees Retirement Association of Colorado acquired a new stake in shares of Boingo Wireless during the third quarter valued at about $306,000. Institutional investors and hedge funds own 92.68% of the company’s stock.

WIFI has been the subject of several recent analyst reports. Jefferies Financial Group restated a “buy” rating and set a $35.00 price objective (down from $38.00) on shares of Boingo Wireless in a research report on Tuesday, November 13th. Credit Suisse Group restated a “buy” rating and set a $35.00 price objective on shares of Boingo Wireless in a research report on Monday, January 28th. BidaskClub cut shares of Boingo Wireless from a “hold” rating to a “sell” rating in a research report on Tuesday, December 18th. Lake Street Capital restated a “buy” rating and set a $34.00 price objective (up from $31.00) on shares of Boingo Wireless in a research report on Friday, November 2nd. Finally, ValuEngine cut shares of Boingo Wireless from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, January 2nd. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $36.00.

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About Boingo Wireless

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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