Dimensional Fund Advisors LP increased its holdings in shares of RigNet, Inc. (NASDAQ:RNET) by 6.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 398,706 shares of the Wireless communications provider’s stock after buying an additional 24,862 shares during the quarter. Dimensional Fund Advisors LP owned about 2.21% of RigNet worth $6,399,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Northern Trust Corp lifted its position in RigNet by 29.6% during the second quarter. Northern Trust Corp now owns 202,852 shares of the Wireless communications provider’s stock worth $3,256,000 after buying an additional 46,311 shares during the period. AJO LP lifted its position in RigNet by 493.7% during the second quarter. AJO LP now owns 116,240 shares of the Wireless communications provider’s stock worth $1,866,000 after buying an additional 96,661 shares during the period. Geode Capital Management LLC lifted its position in RigNet by 3.3% during the first quarter. Geode Capital Management LLC now owns 96,748 shares of the Wireless communications provider’s stock worth $2,075,000 after buying an additional 3,071 shares during the period. Menta Capital LLC lifted its position in RigNet by 5.2% during the second quarter. Menta Capital LLC now owns 77,973 shares of the Wireless communications provider’s stock worth $1,251,000 after buying an additional 3,829 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in RigNet by 2.9% during the first quarter. Bank of New York Mellon Corp now owns 71,138 shares of the Wireless communications provider’s stock worth $1,526,000 after buying an additional 1,976 shares during the period. Hedge funds and other institutional investors own 93.55% of the company’s stock.

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In other RigNet news, Director Charles Louis Iv Davis sold 3,000 shares of the company’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $16.25, for a total transaction of $48,750.00. Following the completion of the sale, the director now directly owns 40,313 shares in the company, valued at $655,086.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 1.20% of the company’s stock.

Shares of RigNet, Inc. (RNET) opened at $15.25 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.98 and a quick ratio of 1.97. RigNet, Inc. has a 12 month low of $14.30 and a 12 month high of $23.90.

Several equities analysts recently weighed in on the company. BidaskClub downgraded RigNet from a “hold” rating to a “sell” rating in a research report on Wednesday, August 16th. ValuEngine upgraded RigNet from a “sell” rating to a “hold” rating in a research report on Monday, July 24th. Finally, Piper Jaffray Companies set a $17.00 target price on RigNet and gave the stock a “hold” rating in a research report on Wednesday, August 16th. Two analysts have rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. RigNet currently has a consensus rating of “Hold” and a consensus price target of $19.33.

RigNet Profile

RigNet, Inc (RigNet) provides customized systems and solutions serving customers with data networking and operational requirements. The Company provides voice and data network, video conferencing and monitoring, crew welfare, asset and weather monitoring, and real-time data services. It operates through two segments: Managed Services, and Systems Integration and Automation (SI&A).

Institutional Ownership by Quarter for RigNet (NASDAQ:RNET)

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