Institutional Investors Lead Shift in Rignet Inc (NASDAQ:RNET) Sentiment

June 14, 2018 - By Ellis Scott

RigNet, Inc. (NASDAQ:RNET) Logo

Sentiment for Rignet Inc (NASDAQ:RNET)

Rignet Inc (NASDAQ:RNET) institutional sentiment decreased to 0.7 in Q1 2018. Its down -0.49, from 1.19 in 2017Q4. The ratio worsened, as 21 funds increased or started new stock positions, while 30 sold and decreased holdings in Rignet Inc. The funds in our partner’s database now possess: 15.97 million shares, up from 15.91 million shares in 2017Q4. Also, the number of funds holding Rignet Inc in their top 10 stock positions was flat from 1 to 1 for the same number . Sold All: 6 Reduced: 24 Increased: 13 New Position: 8.

RigNet, Inc. provides systems and solutions for clients with data networking and operational requirements the United States and internationally. The company has market cap of $242.04 million. The firm operates through two divisions, Managed Services; and Systems Integration and Automation. It currently has negative earnings. It offers remote communications services for offshore and onshore drilling rigs and production facilities, as well as support vessels and other remote sites; multiprotocol label switching global network services; proactive network monitoring and management through network activities centers; and systems integration services to design, assemble, install, and commission turn-key solutions for customer communications systems.

The stock decreased 0.79% or $0.1 during the last trading session, reaching $12.5. About 38,875 shares traded or 10.66% up from the average. RigNet, Inc. (NASDAQ:RNET) has declined 27.08% since June 14, 2017 and is downtrending. It has underperformed by 39.65% the S&P500.

Analysts await RigNet, Inc. (NASDAQ:RNET) to report earnings on August, 6. They expect $-0.15 EPS, up 37.50 % or $0.09 from last year’s $-0.24 per share. After $-0.25 actual EPS reported by RigNet, Inc. for the previous quarter, Wall Street now forecasts -40.00 % EPS growth.

Millennium Tvp Management Co. Llc holds 0.96% of its portfolio in RigNet, Inc. for 64,179 shares. Kohlberg Kravis Roberts & Co. L.P. owns 4.75 million shares or 0.79% of their US portfolio. Moreover, Punch & Associates Investment Management Inc. has 0.58% invested in the company for 481,101 shares. The Colorado-based Arrowmark Colorado Holdings Llc has invested 0.35% in the stock. Menta Capital Llc, a California-based fund reported 64,981 shares.

Since January 1, 0001, it had 0 insider buys, and 3 selling transactions for $313,108 activity.

More news for RigNet, Inc. (NASDAQ:RNET) were recently published by:, which released: “What Caused RigNet Inc.’s Stock to Plunge Today” on May 18, 2018.‘s article titled: “RigNet Announces Addition to Executive Management Team” and published on June 13, 2018 is yet another important article.

RigNet, Inc. (NASDAQ:RNET) Institutional Positions Chart

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