Digital Oilfield Investments L Buys 8,576 Shares of RigNet Inc (RNET) Stock

Share on StockTwits

RigNet Inc (NASDAQ:RNET) major shareholder Digital Oilfield Investments L bought 8,576 shares of RigNet stock in a transaction on Friday, August 17th. The stock was acquired at an average price of $13.98 per share, for a total transaction of $119,892.48. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Digital Oilfield Investments L also recently made the following trade(s):

  • On Monday, August 20th, Digital Oilfield Investments L bought 30,076 shares of RigNet stock. The stock was acquired at an average price of $14.14 per share, for a total transaction of $425,274.64.
  • On Wednesday, August 15th, Digital Oilfield Investments L bought 58,167 shares of RigNet stock. The stock was acquired at an average price of $13.60 per share, for a total transaction of $791,071.20.
  • On Monday, August 13th, Digital Oilfield Investments L bought 13,402 shares of RigNet stock. The stock was acquired at an average price of $13.48 per share, for a total transaction of $180,658.96.

RNET stock traded up $0.05 during midday trading on Monday, reaching $14.30. The company’s stock had a trading volume of 75,800 shares, compared to its average volume of 39,726. The company has a quick ratio of 1.75, a current ratio of 1.75 and a debt-to-equity ratio of 0.48. RigNet Inc has a 1 year low of $10.02 and a 1 year high of $19.10. The firm has a market cap of $257.49 million, a price-to-earnings ratio of -20.14 and a beta of 0.96.

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

RNET has been the topic of a number of recent analyst reports. BidaskClub upgraded RigNet from a “sell” rating to a “hold” rating in a research note on Thursday. Maxim Group set a $19.00 target price on RigNet and gave the stock a “buy” rating in a research note on Tuesday, August 7th. Zacks Investment Research upgraded RigNet from a “sell” rating to a “hold” rating in a research note on Wednesday, May 9th. Finally, ValuEngine lowered RigNet from a “hold” rating to a “sell” rating in a research note on Friday, June 29th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company. RigNet has a consensus rating of “Hold” and an average price target of $17.00.

Several institutional investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its stake in shares of RigNet by 473.4% during the second 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. Cubist Systematic Strategies LLC purchased a new position in shares of RigNet during the second quarter valued at $110,000. Renaissance Technologies LLC increased its stake in shares of RigNet by 1.9% during the second quarter. Renaissance Technologies LLC now owns 594,700 shares of the Wireless communications provider’s stock valued at $6,125,000 after buying an additional 10,900 shares during the period. FMR LLC increased its stake in shares of RigNet by 6.2% during the second quarter. FMR LLC now owns 2,904,526 shares of the Wireless communications provider’s stock valued at $29,917,000 after buying an additional 170,747 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of RigNet by 13.8% during the second quarter. Dimensional Fund Advisors LP now owns 588,183 shares of the Wireless communications provider’s stock valued at $6,058,000 after buying an additional 71,460 shares during the period. Hedge funds and other institutional investors own 86.53% of the company’s stock.

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.

Featured Article: Average Daily Trade Volume – ADTV

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

Receive News & Ratings for RigNet Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RigNet and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply