Boston Partners Increases Stock Position in Rimini Street, Inc. $RMNI

Boston Partners increased its holdings in Rimini Street, Inc. (NASDAQ:RMNI) by 37.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 347,915 shares of the company’s stock after acquiring an additional 94,160 shares during the quarter. Boston Partners’ holdings in Rimini Street were worth $1,312,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Banque Cantonale Vaudoise purchased a new position in Rimini Street during the 1st quarter worth $262,000. XTX Topco Ltd acquired a new stake in shares of Rimini Street during the first quarter worth about $99,000. Bard Associates Inc. grew its holdings in shares of Rimini Street by 2.1% during the first quarter. Bard Associates Inc. now owns 292,648 shares of the company’s stock worth $1,018,000 after buying an additional 6,141 shares during the last quarter. Nuveen LLC acquired a new position in Rimini Street in the 1st quarter valued at about $473,000. Finally, Informed Momentum Co LLC purchased a new stake in Rimini Street during the 1st quarter valued at approximately $718,000. Hedge funds and other institutional investors own 73.75% of the company’s stock.

Rimini Street Price Performance

RMNI opened at $3.83 on Monday. Rimini Street, Inc. has a 12 month low of $1.95 and a 12 month high of $5.38. The stock has a market capitalization of $350.94 million, a P/E ratio of 8.32 and a beta of 1.19. The business has a 50 day simple moving average of $4.28 and a 200-day simple moving average of $4.11.

Analyst Upgrades and Downgrades

RMNI has been the topic of several analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rimini Street in a research note on Wednesday, November 19th. TD Cowen decreased their price target on Rimini Street from $6.00 to $5.00 and set a “hold” rating for the company in a report on Friday, October 31st. Wall Street Zen lowered shares of Rimini Street from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Cowen restated a “hold” rating on shares of Rimini Street in a research report on Friday, October 31st. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $5.83.

Insider Buying and Selling

In other Rimini Street news, CFO Michael L. Perica sold 100,249 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $4.20, for a total value of $421,045.80. Following the completion of the sale, the chief financial officer owned 146,032 shares of the company’s stock, valued at approximately $613,334.40. This trade represents a 40.71% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 207,817 shares of company stock valued at $874,091 over the last three months. 41.20% of the stock is currently owned by company insiders.

Rimini Street Profile

Rimini Street, Inc provides enterprise software products, services, and support. The company engages in the provision of support services for Oracle and SAP enterprise software products. It also provides Rimini ONE, an outsourcing option that offers a set of unified and integrated services to run, manage, support, customize, configure, connect, protect, monitor, and optimize its clients’ application, database, and technology enterprise software; Rimini Support, a mission-critical support for Oracle, SAP, proprietary and open-source database, and technology software; Rimini Manage, a suite of managed services for application and database software; Rimini Protect, a suite of personalized software security services and solutions; and Rimini Connect, a suite of managed interoperability solutions for browsers, operating systems, and email systems.