White Pine Capital Lowers stake in Boingo Wireless Inc (WIFI)

Boingo Wireless Inc (WIFI) : White Pine Capital reduced its stake in Boingo Wireless Inc by 0.86% during the most recent quarter end. The investment management company now holds a total of 304,928 shares of Boingo Wireless Inc which is valued at $2,643,726 after selling 2,650 shares in Boingo Wireless Inc , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Boingo Wireless Inc makes up approximately 1.06% of White Pine Capital’s portfolio.

Other Hedge Funds, Including , Spark Investment Management reduced its stake in WIFI by selling 14,909 shares or 46.3% in the most recent quarter. The Hedge Fund company now holds 17,291 shares of WIFI which is valued at $149,913. Boingo Wireless Inc makes up approx 0.01% of Spark Investment Management’s portfolio. Credit Suisse Ag added WIFI to its portfolio by purchasing 21,993 company shares during the most recent quarter which is valued at $190,679. Bessemer Group Inc sold out all of its stake in WIFI during the most recent quarter. The investment firm sold 213 shares of WIFI which is valued $1,847. Eam Investors sold out all of its stake in WIFI during the most recent quarter. The investment firm sold 455,713 shares of WIFI which is valued $3,946,475.Gilder Gagnon Howe Co boosted its stake in WIFI in the latest quarter, The investment management firm added 148,394 additional shares and now holds a total of 2,519,715 shares of Boingo Wireless Inc which is valued at $22,173,492. Boingo Wireless Inc makes up approx 0.41% of Gilder Gagnon Howe Co’s portfolio.

Boingo Wireless Inc opened for trading at $8.28 and hit $8.44 on the upside on Monday, eventually ending the session at $8.39, with a gain of 1.33% or 0.11 points. The heightened volatility saw the trading volume jump to 2,05,314 shares. Company has a market cap of $320 M.

On the company’s financial health, Boingo Wireless Inc reported $-0.19 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Aug 4, 2016. Analyst had a consensus of $-0.18. The company had revenue of $39.10 million for the quarter, compared to analysts expectations of $39.12 million. The company’s revenue was up 14.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.16 EPS.

Many Wall Street Analysts have commented on Boingo Wireless Inc. Lake Street Initiated Boingo Wireless Inc on Jun 20, 2016 to “Buy”, Price Target of the shares are set at $12.

Boingo Wireless Inc. is a provider of commercial mobile Wi-Fi Internet solutions and indoor direct-attached storage (DAS) services for carriers. The Company is a service provider of mobile Internet solutions across its managed and operated network and aggregated network for mobile devices such as laptops smartphones tablet computers and other wireless-enabled devices. It enables individuals to purchase Internet access at its managed and operated hotspots and select partner locations across the world. The Company offers its telecom operator partners access to its DAS infrastructure managed and operated hotspot locations. Its hardware and software platform allows it to provide a range of value-added services to network operators enterprise software and services companies and venue operators. The Company offers Boingo software client which is installed on Wi-Fi enabled devices such as smartphones laptops and tablet computers to enable customers to access its network.

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