Boston Partners lessened its stake in RigNet Inc (NASDAQ:RNET) by 36.2% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 61,398 shares of the Wireless communications provider’s stock after selling 34,902 shares during the period. Boston Partners’ holdings in RigNet were worth $600,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. FMR LLC lifted its stake in shares of RigNet by 0.3% in the fourth quarter. FMR LLC now owns 2,911,679 shares of the Wireless communications provider’s stock valued at $36,804,000 after buying an additional 7,700 shares during the period. BlackRock Inc. lifted its stake in shares of RigNet by 2.2% in the fourth quarter. BlackRock Inc. now owns 973,908 shares of the Wireless communications provider’s stock valued at $12,310,000 after buying an additional 20,960 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of RigNet by 3.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 639,948 shares of the Wireless communications provider’s stock valued at $8,089,000 after buying an additional 21,221 shares during the period. Vanguard Group Inc. lifted its stake in shares of RigNet by 11.8% in the third quarter. Vanguard Group Inc. now owns 631,985 shares of the Wireless communications provider’s stock valued at $12,861,000 after buying an additional 66,515 shares during the period. Finally, Vanguard Group Inc lifted its stake in shares of RigNet by 11.8% in the third quarter. Vanguard Group Inc now owns 631,985 shares of the Wireless communications provider’s stock valued at $12,861,000 after buying an additional 66,515 shares during the period. Institutional investors and hedge funds own 89.23% of the company’s stock.

Several research firms recently weighed in on RNET. BidaskClub upgraded shares of RigNet from a “sell” rating to a “hold” rating in a research note on Wednesday, February 20th. Maxim Group reiterated a “buy” rating and issued a $24.00 target price on shares of RigNet in a research note on Monday, March 18th.

NASDAQ RNET opened at $8.50 on Monday. The company has a current ratio of 0.90, a quick ratio of 1.02 and a debt-to-equity ratio of 1.50. RigNet Inc has a twelve month low of $8.49 and a twelve month high of $24.05.

RigNet (NASDAQ:RNET) last released its earnings results on Monday, May 6th. The Wireless communications provider reported ($0.63) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.22) by ($0.41). RigNet had a negative net margin of 28.36% and a negative return on equity of 25.06%. The company had revenue of $57.51 million during the quarter.

COPYRIGHT VIOLATION WARNING: “Boston Partners Trims Position in RigNet Inc (RNET)” was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this news story on another domain, it was illegally copied and republished in violation of United States and international trademark & copyright law. The correct version of this news story can be read at https://www.thecerbatgem.com/2019/05/20/boston-partners-trims-position-in-rignet-inc-rnet.html.

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.

See Also: Market Capitalization in the Stock Market

Want to see what other hedge funds are holding RNET? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for RigNet Inc (NASDAQ:RNET).

Institutional Ownership 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.