Falcon Point Capital Lowers stake in Boingo Wireless Inc (WIFI)

Boingo Wireless Inc (WIFI) : Falcon Point Capital reduced its stake in Boingo Wireless Inc by 16.47% during the most recent quarter end. The investment management company now holds a total of 269,208 shares of Boingo Wireless Inc which is valued at $2,535,939 after selling 53,093 shares in Boingo Wireless Inc , the firm said in a disclosure report filed with the SEC on Jul 26, 2016.Boingo Wireless Inc makes up approximately 0.43% of Falcon Point Capital’s portfolio.

Other Hedge Funds, Including , Rs Investment Management Co boosted its stake in WIFI in the latest quarter, The investment management firm added 52,720 additional shares and now holds a total of 476,440 shares of Boingo Wireless Inc which is valued at $4,488,065. Boingo Wireless Inc makes up approx 0.04% of Rs Investment Management Co’s portfolio.Magee Thomson Investment Partners reduced its stake in WIFI by selling 581 shares or 81.83% in the most recent quarter. The Hedge Fund company now holds 129 shares of WIFI which is valued at $1,226.Trellus Management Company boosted its stake in WIFI in the latest quarter, The investment management firm added 40,000 additional shares and now holds a total of 130,000 shares of Boingo Wireless Inc which is valued at $1,235,000. Boingo Wireless Inc makes up approx 2.79% of Trellus Management Company’s portfolio.Cutler Group Lp reduced its stake in WIFI by selling 1,428 shares or 29.18% in the most recent quarter. The Hedge Fund company now holds 3,465 shares of WIFI which is valued at $30,388. Bnp Paribas Arbitrage Sa added WIFI to its portfolio by purchasing 1,379 company shares during the most recent quarter which is valued at $12,246.

Boingo Wireless Inc closed down -0.18 points or -1.93% at $9.16 with 1,94,612 shares getting traded on Friday. Post opening the session at $9.31, the shares hit an intraday low of $9.16 and an intraday high of $9.77 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

On the company’s financial health, Boingo Wireless Inc reported $-0.27 EPS for the quarter, based on the information available during the earnings call on May 5, 2016. Analyst had a consensus estimate of $-0.27. The company had revenue of $34.50 million for the quarter, compared to analysts expectations of $33.55 million. The company’s revenue was up 17.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.22 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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