RigNet, Inc. (RNET) Shares Bought by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lifted its holdings in RigNet, Inc. (NASDAQ:RNET) by 6.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. 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 approximately 2.21% of RigNet worth $6,399,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of RNET. American International Group Inc. grew its stake in RigNet by 7.1% in the first quarter. American International Group Inc. now owns 7,784 shares of the Wireless communications provider’s stock worth $167,000 after purchasing an additional 516 shares in the last quarter. Citigroup Inc. boosted its position in RigNet by 48.9% during the 2nd quarter. Citigroup Inc. now owns 15,612 shares of the Wireless communications provider’s stock valued at $250,000 after acquiring an additional 5,127 shares in the last quarter. Alliancebernstein L.P. boosted its position in RigNet by 3.4% during the 1st quarter. Alliancebernstein L.P. now owns 18,250 shares of the Wireless communications provider’s stock valued at $391,000 after acquiring an additional 600 shares in the last quarter. Teachers Advisors LLC boosted its position in RigNet by 7.3% during the 2nd quarter. Teachers Advisors LLC now owns 34,126 shares of the Wireless communications provider’s stock valued at $548,000 after acquiring an additional 2,310 shares in the last quarter. Finally, Goldman Sachs Group Inc. boosted its position in RigNet by 21.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 34,921 shares of the Wireless communications provider’s stock valued at $749,000 after acquiring an additional 6,273 shares in the last quarter. Hedge funds and other institutional investors own 92.25% of the company’s stock.

Several analysts have issued reports on RNET shares. Piper Jaffray Companies set a $17.00 target price on RigNet and gave the company a “hold” rating in a research report on Wednesday, August 16th. ValuEngine cut RigNet from a “hold” rating to a “sell” rating in a research report on Friday, October 20th. Finally, BidaskClub cut RigNet from a “hold” rating to a “sell” rating in a research report on Wednesday, August 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $19.33.

RigNet, Inc. (NASDAQ RNET) traded down $0.35 during trading on Wednesday, hitting $15.20. The stock had a trading volume of 54,741 shares, compared to its average volume of 47,708. 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 52-week low of $14.30 and a 52-week high of $23.90.

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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).

Institutional Ownership by Quarter for RigNet (NASDAQ:RNET)

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