Boingo Wireless Inc (NASDAQ:WIFI) has experienced an increase in support from the world’s most elite money managers recently.
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Now, we’re going to take a peek at the key action surrounding Boingo Wireless Inc (NASDAQ:WIFI).
What does the smart money think about Boingo Wireless Inc (NASDAQ:WIFI)?
At the end of the fourth quarter, a total of 7 of the hedge funds we track were long in this stock, a change of 75% from the third quarter. With hedge funds’ positions undergoing their usual ebb and flow, there exists an “upper tier” of noteworthy hedge fund managers who were upping their holdings substantially.
When looking at the hedgies we track, Louis Bacon’s Moore Global Investments had the most valuable position in Boingo Wireless Inc (NASDAQ:WIFI), worth close to $21.2 million, accounting for 0.5% of its total 13F portfolio. On Moore Global Investments’s heels is Amy Minella of Cardinal Capital, with a $6.6 million position; 0.5% of its 13F portfolio is allocated to the company. Some other hedge funds with similar optimism include Edward Gilhuly and Scott Stuart’s Sageview Capital, Jim Simons’s Renaissance Technologies and Israel Englander’s Millennium Management.
As one would reasonably expect, key money managers have been driving this bullishness. Moore Global Investments, managed by Louis Bacon, established the biggest position in Boingo Wireless Inc (NASDAQ:WIFI). Moore Global Investments had 21.2 million invested in the company at the end of the quarter. Israel Englander’s Millennium Management also initiated a $0.5 million position during the quarter. The only other fund with a brand new WIFI position is John Overdeck and David Siegel’s Two Sigma Advisors.
How are insiders trading Boingo Wireless Inc (NASDAQ:WIFI)?
Bullish insider trading is at its handiest when the company in focus has seen transactions within the past half-year. Over the latest half-year time period, Boingo Wireless Inc (NASDAQ:WIFI) has experienced zero unique insiders purchasing, and 3 insider sales (see the details of insider trades here).
Let’s also examine hedge fund and insider activity in other stocks similar to Boingo Wireless Inc (NASDAQ:WIFI). These stocks are Greenway Medical Technologies, Inc. (NYSE:GWAY), Computer Task Group, Inc. (NASDAQ:CTGX), CIBER, Inc. (NYSE:CBR), iSoftStone Holdings Ltd (ADR) (NYSE:ISS), and Digimarc Corp (NASDAQ:DMRC). This group of stocks belong to the information technology services industry and their market caps are similar to WIFI’s market cap.
