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RigNet (NASDAQ:RNET) Director Keith Olsen sold 1,000 shares of the company’s stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $49.67, for a total transaction of $49,670.00. Following the completion of the transaction, the director now directly owns 9,575 shares in the company, valued at approximately $475,590. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

RigNet (NASDAQ:RNET) traded down 1.17% on Thursday, hitting $48.11. 29,054 shares of the company’s stock traded hands. RigNet has a one year low of $23.13 and a one year high of $59.06. The stock has a 50-day moving average of $48.82 and a 200-day moving average of $47.92. The company has a market cap of $845.4 million and a price-to-earnings ratio of 58.79.

RigNet (NASDAQ:RNET) last announced its earnings results on Monday, May 12th. The company reported $0.25 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.27 by $0.02. The company had revenue of $75.00 million for the quarter, compared to the consensus estimate of $66.26 million. During the same quarter in the previous year, the company posted $0.22 earnings per share. The company’s revenue for the quarter was up 42.1% on a year-over-year basis. On average, analysts predict that RigNet will post $1.42 earnings per share for the current fiscal year.

RigNet, Inc (NASDAQ:RNET) is a network infrastructure provider serving the remote communications needs of the oil and gas industry.

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