Teachers Advisors LLC raised its position in shares of RigNet, Inc. (NASDAQ:RNET) by 7.3% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 34,126 shares of the Wireless communications provider’s stock after purchasing an additional 2,310 shares during the quarter. Teachers Advisors LLC owned about 0.19% of RigNet worth $548,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. American International Group Inc. boosted its stake in RigNet by 7.1% during the 1st quarter. American International Group Inc. now owns 7,784 shares of the Wireless communications provider’s stock valued at $167,000 after purchasing an additional 516 shares in the last quarter. Alliancebernstein L.P. boosted its stake 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 purchasing an additional 600 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake 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 purchasing an additional 6,273 shares in the last quarter. Dupont Capital Management Corp bought a new position in RigNet during the 2nd quarter valued at $605,000. Finally, Strs Ohio boosted its stake in RigNet by 96.9% during the 2nd quarter. Strs Ohio now owns 38,000 shares of the Wireless communications provider’s stock valued at $609,000 after purchasing an additional 18,700 shares in the last quarter. 90.83% of the stock is owned by hedge funds and other institutional investors.

Shares of RigNet, Inc. (RNET) opened at $15.10 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 2.50 and a current ratio of 1.98. RigNet, Inc. has a one year low of $14.30 and a one year high of $23.90.

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A number of brokerages have issued reports on RNET. BidaskClub lowered RigNet from a “hold” rating to a “sell” rating in a research note on Wednesday, August 16th. ValuEngine lowered RigNet from a “hold” rating to a “sell” rating in a research note on Thursday. Piper Jaffray Companies set a $17.00 price objective on RigNet and gave the stock a “hold” rating in a research note on Wednesday, August 16th. Finally, Zacks Investment Research raised RigNet from a “sell” rating to a “hold” rating in a research note on Wednesday, July 19th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $19.33.

In other news, Director Charles Louis Iv Davis sold 3,000 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at approximately $655,086.25. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.20% of the company’s stock.

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).

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Institutional Ownership by Quarter for RigNet (NASDAQ:RNET)

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