Rimini Street, Inc. (NASDAQ:RMNI) Stake Boosted by Brooktree Capital Management

Brooktree Capital Management increased its holdings in Rimini Street, Inc. (NASDAQ:RMNI) by 10.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,871,041 shares of the company’s stock after purchasing an additional 361,380 shares during the period. Rimini Street makes up 7.7% of Brooktree Capital Management’s investment portfolio, making the stock its 3rd biggest holding. Brooktree Capital Management’s holdings in Rimini Street were worth $10,336,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Janus Henderson Group PLC bought a new stake in Rimini Street in the third quarter worth $210,000. SG Americas Securities LLC boosted its holdings in Rimini Street by 23.2% in the fourth quarter. SG Americas Securities LLC now owns 22,527 shares of the company’s stock worth $60,000 after purchasing an additional 4,238 shares in the last quarter. Cerity Partners LLC boosted its holdings in Rimini Street by 80.2% in the third quarter. Cerity Partners LLC now owns 306,843 shares of the company’s stock worth $568,000 after purchasing an additional 136,609 shares in the last quarter. State Street Corp boosted its holdings in Rimini Street by 0.8% during the third quarter. State Street Corp now owns 1,020,639 shares of the company’s stock valued at $1,888,000 after acquiring an additional 8,377 shares during the period. Finally, Barclays PLC boosted its holdings in Rimini Street by 281.6% during the third quarter. Barclays PLC now owns 70,291 shares of the company’s stock valued at $130,000 after acquiring an additional 51,870 shares during the period. 73.75% of the stock is currently owned by institutional investors.

Rimini Street Stock Performance

Shares of NASDAQ:RMNI opened at $4.07 on Tuesday. The company has a market cap of $371.57 million, a P/E ratio of -11.00 and a beta of 1.29. The stock’s 50-day moving average is $3.15 and its 200-day moving average is $2.42. Rimini Street, Inc. has a 52-week low of $1.53 and a 52-week high of $4.15.

Rimini Street (NASDAQ:RMNI) last released its earnings results on Thursday, February 27th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01). Rimini Street had a negative net margin of 7.87% and a negative return on equity of 83.26%. The company had revenue of $114.21 million during the quarter, compared to the consensus estimate of $102.57 million. As a group, equities analysts predict that Rimini Street, Inc. will post 0.37 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on RMNI shares. Craig Hallum raised Rimini Street from a “hold” rating to a “buy” rating and raised their price target for the company from $2.00 to $6.00 in a research report on Tuesday, December 17th. Alliance Global Partners raised Rimini Street from a “neutral” rating to a “buy” rating in a research report on Friday, February 28th.

About Rimini Street

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.