American Century Companies Inc. Buys Shares of 10,106 RigNet, Inc. (RNET)
American Century Companies Inc. bought a new stake in shares of RigNet, Inc. (NASDAQ:RNET) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 10,106 shares of the Wireless communications provider’s stock, valued at approximately $174,000. American Century Companies Inc. owned approximately 0.06% of RigNet at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in RNET. AJO LP lifted its position in shares of 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 purchasing an additional 96,661 shares during the last quarter. Algert Global LLC bought a new position in shares of RigNet during the second quarter worth about $804,000. Northern Trust Corp lifted its position in shares of 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 purchasing an additional 46,311 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of RigNet by 12.4% during the first quarter. Dimensional Fund Advisors LP now owns 373,844 shares of the Wireless communications provider’s stock worth $8,019,000 after purchasing an additional 41,360 shares during the last quarter. Finally, Dupont Capital Management Corp bought a new position in shares of RigNet during the second quarter worth about $605,000. Institutional investors own 92.39% of the company’s stock.
RigNet, Inc. (NASDAQ RNET) opened at $16.50 on Friday. The company has a quick ratio of 1.97, a current ratio of 1.98 and a debt-to-equity ratio of 0.46. RigNet, Inc. has a twelve month low of $14.30 and a twelve month high of $23.90.
In other RigNet news, Director Charles Louis Iv Davis sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $16.25, for a total value of $48,750.00. Following the transaction, the director now owns 40,313 shares of the company’s stock, valued at $655,086.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.20% of the company’s stock.
Several brokerages have recently commented on RNET. ValuEngine cut shares of RigNet from a “hold” rating to a “sell” rating in a research report on Thursday, November 9th. Piper Jaffray Companies set a $17.00 price target on shares of RigNet and gave the stock a “hold” rating in a research report on Wednesday, August 16th. Finally, BidaskClub cut shares of RigNet from a “hold” rating to a “sell” rating in a research report on Wednesday, August 16th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. RigNet has a consensus rating of “Hold” and an average price target of $19.33.
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RigNet Company 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).
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