Rimini Street, Inc. (NASDAQ:RMNI) Shares Purchased by Pacific Ridge Capital Partners LLC

Pacific Ridge Capital Partners LLC boosted its stake in shares of Rimini Street, Inc. (NASDAQ:RMNI) by 33.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,545,671 shares of the company’s stock after buying an additional 390,131 shares during the quarter. Pacific Ridge Capital Partners LLC owned 1.70% of Rimini Street worth $4,127,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in RMNI. JPMorgan Chase & Co. grew its holdings in shares of Rimini Street by 104.2% in the 4th quarter. JPMorgan Chase & Co. now owns 203,430 shares of the company’s stock worth $543,000 after acquiring an additional 103,828 shares during the period. Prudential Financial Inc. boosted its position in Rimini Street by 67.0% during the fourth quarter. Prudential Financial Inc. now owns 19,935 shares of the company’s stock worth $53,000 after purchasing an additional 8,000 shares in the last quarter. Brooktree Capital Management grew its holdings in Rimini Street by 10.3% in the fourth quarter. Brooktree Capital Management now owns 3,871,041 shares of the company’s stock valued at $10,336,000 after purchasing an additional 361,380 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in shares of Rimini Street by 28.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 667,673 shares of the company’s stock valued at $1,783,000 after buying an additional 149,659 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its stake in shares of Rimini Street by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 457,181 shares of the company’s stock worth $1,221,000 after buying an additional 12,300 shares during the last quarter. 73.75% of the stock is owned by hedge funds and other institutional investors.

Rimini Street Stock Down 4.3 %

Shares of NASDAQ:RMNI opened at $3.60 on Thursday. The company has a market capitalization of $328.67 million, a P/E ratio of -9.73 and a beta of 1.29. Rimini Street, Inc. has a 52-week low of $1.53 and a 52-week high of $4.15. The stock’s fifty day simple moving average is $3.32 and its 200-day simple moving average is $2.52.

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

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RMNI. Craig Hallum raised shares of Rimini Street from a “hold” rating to a “buy” rating and increased their price objective for the company from $2.00 to $6.00 in a research note on Tuesday, December 17th. Alliance Global Partners upgraded shares of 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.