Shares of RigNet Inc. (NASDAQ:RNET) traded down 3.7% during trading on Monday . The company traded as low as $11.74 and last traded at $11.86, with a volume of 59,593 shares changing hands. The stock had previously closed at $12.31.

A number of analysts have commented on the stock. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of RigNet in a research note on Tuesday, May 10th. Sidoti upgraded RigNet from a “neutral” rating to a “buy” rating and set a $14.00 target price on the stock in a report on Tuesday, June 28th. Finally, Zacks Investment Research upgraded RigNet from a “sell” rating to a “hold” rating in a report on Tuesday, July 19th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $15.33.

The firm’s market cap is $210.30 million. The firm’s 50-day moving average price is $12.53 and its 200 day moving average price is $13.33.

RigNet (NASDAQ:RNET) last issued its earnings results on Monday, May 9th. The company reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.46. The firm earned $62.30 million during the quarter, compared to analyst estimates of $58.91 million. RigNet’s revenue for the quarter was down 19.7% on a year-over-year basis. During the same period in the previous year, the company earned ($0.06) EPS. Analysts forecast that RigNet Inc. will post ($0.01) earnings per share for the current fiscal year.

In other RigNet news, Director Kevin C. Mulloy sold 3,700 shares of the company’s stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $12.80, for a total value of $47,360.00. Following the completion of the transaction, the director now owns 3,702 shares of the company’s stock, valued at approximately $47,385.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Charles Louis Iv Davis sold 3,500 shares of the company’s stock in a transaction dated Thursday, May 26th. The stock was sold at an average price of $12.42, for a total value of $43,470.00. Following the completion of the transaction, the director now directly owns 42,406 shares of the company’s stock, valued at approximately $526,682.52. The disclosure for this sale can be found here.

Other large investors recently modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in shares of RigNet by 7.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 315,248 shares of the company’s stock valued at $6,522,000 after buying an additional 22,449 shares during the last quarter. Stephens Investment Management Group LLC boosted its stake in shares of RigNet by 13.6% in the fourth quarter. Stephens Investment Management Group LLC now owns 455,229 shares of the company’s stock valued at $9,419,000 after buying an additional 54,635 shares during the last quarter. OppenheimerFunds Inc. boosted its stake in shares of RigNet by 4.8% in the fourth quarter. OppenheimerFunds Inc. now owns 486,119 shares of the company’s stock valued at $10,058,000 after buying an additional 22,419 shares during the last quarter. Finally, Rutabaga Capital Management LLC MA boosted its stake in shares of RigNet by 11.4% in the fourth quarter. Rutabaga Capital Management LLC MA now owns 1,020,384 shares of the company’s stock valued at $21,112,000 after buying an additional 104,765 shares during the last quarter.

RigNet, Inc is a provider of digital technology solutions to the oil and gas industry. The Company delivers voice, data, video and other collaborative services through an Internet protocol/multiprotocol label switching (IP/MPLS) global network. It operates through three segments: Eastern Hemisphere, Western Hemisphere and Telecoms Systems Integration (TSI).

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