Stephens Investment Management Group Has Lowered Its Rignet (RNET) Position by $717,990; Confluence Investment Management Boosted Its Iron Mountain (IRM) Holding

April 11, 2018 - By Winifred Garcia

RigNet, Inc. (NASDAQ:RNET) Logo

Confluence Investment Management Llc increased its stake in Iron Mountain (IRM) by 2.14% based on its latest 2017Q4 regulatory filing with the SEC. Confluence Investment Management Llc bought 51,026 shares as the company’s stock declined 15.29% with the market. The institutional investor held 2.43 million shares of the real estate investment trusts company at the end of 2017Q4, valued at $91.74 million, up from 2.38 million at the end of the previous reported quarter. Confluence Investment Management Llc who had been investing in Iron Mountain for a number of months, seems to be bullish on the $9.56B market cap company. The stock increased 0.18% or $0.06 during the last trading session, reaching $33.52. About 532,995 shares traded. Iron Mountain Incorporated (NYSE:IRM) has declined 7.75% since April 11, 2017 and is downtrending. It has underperformed by 19.30% the S&P500.

Stephens Investment Management Group Llc decreased its stake in Rignet Inc (RNET) by 8.89% based on its latest 2017Q4 regulatory filing with the SEC. Stephens Investment Management Group Llc sold 51,285 shares as the company’s stock declined 13.55% with the market. The institutional investor held 525,348 shares of the consumer services company at the end of 2017Q4, valued at $7.85 million, down from 576,633 at the end of the previous reported quarter. Stephens Investment Management Group Llc who had been investing in Rignet Inc for a number of months, seems to be less bullish one the $269.57 million market cap company. The stock increased 9.74% or $1.3 during the last trading session, reaching $14.65. About 30,551 shares traded or 13.12% up from the average. RigNet, Inc. (NASDAQ:RNET) has declined 32.66% since April 11, 2017 and is downtrending. It has underperformed by 44.21% the S&P500.

Stephens Investment Management Group Llc, which manages about $3.08 billion and $4.38B US Long portfolio, upped its stake in Cognex Corp (NASDAQ:CGNX) by 301,655 shares to 925,202 shares, valued at $56.59M in 2017Q4, according to the filing. It also increased its holding in Intuitive Surgical Inc (NASDAQ:ISRG) by 53,831 shares in the quarter, for a total of 80,631 shares, and has risen its stake in Global Pmts Inc (NYSE:GPN).

Investors sentiment decreased to 1.19 in 2017 Q4. Its down 0.37, from 1.56 in 2017Q3. It dropped, as 9 investors sold RNET shares while 18 reduced holdings. 12 funds opened positions while 20 raised stakes. 15.91 million shares or 0.46% less from 15.98 million shares in 2017Q3 were reported. Matarin Ltd Liability holds 14,973 shares. Tiaa Cref Limited Liability has 51,539 shares for 0% of their portfolio. Citigroup holds 11,499 shares or 0% of its portfolio. Macquarie Gp has 4,164 shares for 0% of their portfolio. Stephens Investment Grp Ltd Liability Corporation invested in 0.18% or 525,348 shares. State Board Of Administration Of Florida Retirement Sys reported 12,799 shares. Blackrock Incorporated has 0% invested in RigNet, Inc. (NASDAQ:RNET). Royal National Bank Of Canada reported 100 shares. Ajo Lp invested in 61,147 shares or 0% of the stock. Envestnet Asset Mngmt Incorporated stated it has 843 shares. Cornerstone Cap Management Holdg Limited Liability Company stated it has 36,371 shares or 0% of all its holdings. Jpmorgan Chase holds 0% or 434,377 shares in its portfolio. 2,631 are held by Bnp Paribas Arbitrage. California State Teachers Retirement reported 0% in RigNet, Inc. (NASDAQ:RNET). National Bank & Trust Of New York Mellon Corporation holds 68,508 shares.

Since March 19, 2018, it had 0 insider buys, and 3 sales for $313,108 activity. The insider Mulloy Kevin C. sold 3,300 shares worth $43,599.

Analysts await RigNet, Inc. (NASDAQ:RNET) to report earnings on May, 14. They expect $-0.18 EPS, down 63.64% or $0.07 from last year’s $-0.11 per share. After $-0.21 actual EPS reported by RigNet, Inc. for the previous quarter, Wall Street now forecasts -14.29% EPS growth.

Among 4 analysts covering RigNet (NASDAQ:RNET), 2 have Buy rating, 0 Sell and 2 Hold. Therefore 50% are positive. RigNet had 8 analyst reports since August 5, 2015 according to SRatingsIntel. Sidoti upgraded RigNet, Inc. (NASDAQ:RNET) on Tuesday, June 28 to “Buy” rating. The company was downgraded on Tuesday, November 10 by Sidoti. Piper Jaffray maintained it with “Hold” rating and $17.0 target in Wednesday, August 16 report. The rating was initiated by Sidoti on Monday, August 31 with “Buy”. The firm has “Hold” rating by Oppenheimer given on Wednesday, August 5. The stock of RigNet, Inc. (NASDAQ:RNET) has “Market Perform” rating given on Thursday, March 8 by Wells Fargo.

Investors sentiment increased to 1.9 in 2017 Q4. Its up 0.04, from 1.86 in 2017Q3. It improved, as 24 investors sold IRM shares while 90 reduced holdings. 67 funds opened positions while 150 raised stakes. 245.03 million shares or 6.41% more from 230.28 million shares in 2017Q3 were reported. Cleararc Cap Inc has 0.03% invested in Iron Mountain Incorporated (NYSE:IRM). Axa holds 0% of its portfolio in Iron Mountain Incorporated (NYSE:IRM) for 16,567 shares. Cipher Capital Limited Partnership has 6,550 shares. Natl Pension Service holds 1,609 shares or 0% of its portfolio. Lpl Limited Com holds 52,491 shares or 0.01% of its portfolio. Old Mutual Global Invsts (Uk) Ltd owns 18,500 shares. Epoch Prns owns 6.13M shares. First Republic Invest Mngmt Inc has 0.01% invested in Iron Mountain Incorporated (NYSE:IRM). Deutsche Bank & Trust Ag owns 2.26M shares. Schooner has invested 100% in Iron Mountain Incorporated (NYSE:IRM). Advisory Ser Ltd Liability owns 16,869 shares. Parnassus Investments Ca stated it has 12.57 million shares or 1.86% of all its holdings. Bb&T Limited Liability Corporation invested in 0% or 8,065 shares. Creative Planning invested in 6,830 shares or 0% of the stock. Moreover, Schwab Charles Investment has 0.04% invested in Iron Mountain Incorporated (NYSE:IRM) for 1.41 million shares.

Confluence Investment Management Llc, which manages about $2.30 billion and $5.48B US Long portfolio, decreased its stake in Johnson & Johnson (NYSE:JNJ) by 2,745 shares to 1.02 million shares, valued at $142.10M in 2017Q4, according to the filing. It also reduced its holding in Discovery Communications Inc. (NASDAQ:DISCK) by 304,279 shares in the quarter, leaving it with 2.20 million shares, and cut its stake in Russell 2000 Value Index (IWN).

Since October 11, 2017, it had 1 insider purchase, and 6 insider sales for $1.19 million activity. The insider MacLean Theodore sold $34,752. RAKOWICH WALTER C also sold $62,726 worth of Iron Mountain Incorporated (NYSE:IRM) on Wednesday, January 17. On Monday, January 8 Meaney William L sold $408,500 worth of Iron Mountain Incorporated (NYSE:IRM) or 11,014 shares. 23,428 shares valued at $914,688 were sold by Keddy Patrick J on Wednesday, October 11.

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

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