RigNet Inc (NASDAQ:RNET) insider Benjamin Andrew Carter sold 1,142 shares of the company’s stock in a transaction that occurred on Thursday, August 30th. The stock was sold at an average price of $16.16, for a total value of $18,454.72. Following the completion of the transaction, the insider now owns 4,458 shares of the company’s stock, valued at $72,041.28. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Shares of NASDAQ RNET traded up $0.65 during midday trading on Friday, reaching $19.70. 469 shares of the stock traded hands, compared to its average volume of 69,652. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.75 and a current ratio of 1.75. The company has a market capitalization of $356.22 million, a P/E ratio of -27.11 and a beta of 1.43. RigNet Inc has a one year low of $10.02 and a one year high of $19.20.

RigNet (NASDAQ:RNET) last posted its earnings results on Monday, August 6th. The Wireless communications provider reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.04. The firm had revenue of $60.01 million during the quarter. RigNet had a negative return on equity of 14.04% and a negative net margin of 8.96%.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Cubist Systematic Strategies LLC bought a new position in shares of RigNet during the 2nd quarter valued at approximately $110,000. Tower Research Capital LLC TRC raised its holdings in RigNet by 473.4% during the 2nd quarter. Tower Research Capital LLC TRC now owns 15,332 shares of the Wireless communications provider’s stock valued at $158,000 after buying an additional 12,658 shares during the period. Trexquant Investment LP purchased a new stake in RigNet during the 2nd quarter valued at $169,000. Matarin Capital Management LLC purchased a new stake in RigNet during the 1st quarter valued at $170,000. Finally, Wells Fargo & Company MN raised its holdings in RigNet by 30.1% during the 4th quarter. Wells Fargo & Company MN now owns 20,526 shares of the Wireless communications provider’s stock valued at $307,000 after buying an additional 4,749 shares during the period. Hedge funds and other institutional investors own 86.09% of the company’s stock.

Several research analysts have weighed in on RNET shares. BidaskClub upgraded RigNet from a “hold” rating to a “buy” rating in a research note on Saturday, August 25th. Maxim Group started coverage on RigNet in a research note on Thursday, June 14th. They issued a “buy” rating and a $19.00 price target for the company. Finally, ValuEngine downgraded RigNet from a “hold” rating to a “sell” rating in a research report on Friday, June 29th. One analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $19.50.

RigNet Company Profile

RigNet, Inc, a technology company, provides customized communications services, applications, and cybersecurity solutions in the United States and internationally. The company operates through three segments: Managed Services, Applications and Internet-of-Things (Apps & IoT), and Systems Integration.

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Insider Buying and Selling by Quarter for RigNet (NASDAQ:RNET)

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