In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Boingo Wireless Inc (NASDAQ:WIFI) reported that Park West Asset Management has picked up 1,971,559 of common stock as of 2017-03-20.
The acquisition brings the aggregate amount owned by Park West Asset Management to a total of 1,971,559 representing a 5.1% stake in the company.
For those not familiar with the company, Boingo Wireless, Inc. is a provider of commercial mobile wireless fidelity (Wi-Fi) Internet solutions and indoor direct-attached storage (DAS) services for carriers. 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 segment. The Company has established wireless networks that provide high-speed, high-bandwidth wireless connectivity to smartphones, tablets, laptops, wearables, the Internet of Things (IoT) and other wireless-enabled devices. Its wireless networks include DAS, femto-cell, and Wi-Fi networks that it manages and operates, which it refers to as managed and operated locations, as well as Wi-Fi networks managed and operated by third-parties with whom it contract for access (roaming networks). Its services include DAS or Femto-Cell, Wholesale-Wi-Fi, Retail, Military and Advertising.
A glance at Boingo Wireless Inc (NASDAQ:WIFI)’s key stats reveals a current market capitalization of 504.80 Million based on 38.65 Million shares outstanding and a price at last close of $12.99 per share.
Looking at insider activity, there are a few transactions worth noting.
Specifically, on 2016-03-01, Dunlevie picked up 5,131 at a purchase price of $11.51. This brings their total holding to 110,542 as of the date of the filing.
On the sell side, the most recent transaction saw Tracey unload 3,750 shares at a sale price of $12.14. This brings their total holding to 47,658.
It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Boingo Wireless Inc (NASDAQ:WIFI) as things move forward to see if its progress aligns with these transactions.
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