Alambic Investment Management L.P. reduced its stake in Rimini Street Inc (NASDAQ:RMNI) by 24.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 13,019 shares of the company’s stock after selling 4,300 shares during the quarter. Alambic Investment Management L.P.’s holdings in Rimini Street were worth $53,000 at the end of the most recent reporting period.
Several other large investors also recently bought and sold shares of the stock. Russell Investments Group Ltd. raised its holdings in shares of Rimini Street by 43.0% in the 1st quarter. Russell Investments Group Ltd. now owns 16,050 shares of the company’s stock valued at $65,000 after buying an additional 4,826 shares during the period. Los Angeles Capital Management & Equity Research Inc. grew its position in Rimini Street by 26.7% in the 1st quarter. Los Angeles Capital Management & Equity Research Inc. now owns 30,868 shares of the company’s stock valued at $126,000 after acquiring an additional 6,503 shares in the last quarter. Bessemer Group Inc. increased its stake in Rimini Street by 8.1% during the first quarter. Bessemer Group Inc. now owns 99,700 shares of the company’s stock worth $408,000 after purchasing an additional 7,500 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Rimini Street by 38.9% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 31,450 shares of the company’s stock worth $122,000 after purchasing an additional 8,800 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Rimini Street by 8.1% in the fourth quarter. Geode Capital Management LLC now owns 116,154 shares of the company’s stock valued at $450,000 after purchasing an additional 8,748 shares during the period. 48.98% of the stock is owned by hedge funds and other institutional investors.
Shares of RMNI stock traded down $0.09 during trading hours on Friday, reaching $4.32. 50,699 shares of the stock were exchanged, compared to its average volume of 75,777. The business’s fifty day moving average is $4.06 and its two-hundred day moving average is $4.22. Rimini Street Inc has a 12-month low of $2.22 and a 12-month high of $5.48. The firm has a market capitalization of $300.70 million, a P/E ratio of 44.10, a P/E/G ratio of 1.37 and a beta of 0.42.
Rimini Street (NASDAQ:RMNI) last posted its quarterly earnings results on Monday, March 16th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.03). Rimini Street had a negative return on equity of 8.21% and a negative net margin of 1.69%. The firm had revenue of $76.13 million for the quarter, compared to analyst estimates of $71.77 million. As a group, research analysts predict that Rimini Street Inc will post 0.22 EPS for the current year.
A number of equities research analysts have issued reports on the stock. Zacks Investment Research lowered shares of Rimini Street from a “buy” rating to a “hold” rating in a report on Tuesday. ValuEngine cut Rimini Street from a “buy” rating to a “hold” rating in a research note on Thursday, April 30th. Finally, Roth Capital lowered Rimini Street to a “hold” rating in a report on Friday, March 13th.
In other Rimini Street news, CMO David W. Rowe sold 14,492 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $4.17, for a total value of $60,431.64. Following the transaction, the chief marketing officer now directly owns 95,910 shares in the company, valued at $399,944.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO David W. Rowe sold 48,082 shares of the firm’s stock in a transaction that occurred on Monday, April 27th. The stock was sold at an average price of $4.00, for a total transaction of $192,328.00. Following the sale, the chief marketing officer now directly owns 76,042 shares in the company, valued at approximately $304,168. The disclosure for this sale can be found here. In the last quarter, insiders have sold 120,684 shares of company stock valued at $496,975. Insiders own 64.25% of the company’s stock.
Rimini Street Profile
Rimini Street, Inc provides enterprise software products and services for various industries. The company offers third-party support for Oracle and SAP software products. It sells its solutions primarily through direct sales organizations in North America, Latin America, Europe, Africa, the Middle East, Asia, and the Asia-Pacific.
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