Connor Clark & Lunn Investment Management Ltd. Purchases 149,659 Shares of Rimini Street, Inc. (NASDAQ:RMNI)

Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Rimini Street, Inc. (NASDAQ:RMNI - Free Report) by 28.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 667,673 shares of the company's stock after purchasing an additional 149,659 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.73% of Rimini Street worth $1,783,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC raised its holdings in shares of Rimini Street by 23.2% in the 4th quarter. SG Americas Securities LLC now owns 22,527 shares of the company's stock worth $60,000 after acquiring an additional 4,238 shares during the last quarter. Virtu Financial LLC acquired a new stake in shares of Rimini Street in the 3rd quarter worth about $58,000. Ruane Cunniff & Goldfarb L.P. raised its holdings in shares of Rimini Street by 34.3% in the 3rd quarter. Ruane Cunniff & Goldfarb L.P. now owns 38,090 shares of the company's stock worth $70,000 after acquiring an additional 9,719 shares during the last quarter. Barclays PLC raised its holdings in shares of Rimini Street by 281.6% in the 3rd quarter. Barclays PLC now owns 70,291 shares of the company's stock worth $130,000 after acquiring an additional 51,870 shares during the last quarter. Finally, Banque Cantonale Vaudoise raised its holdings in shares of Rimini Street by 165.0% in the 3rd quarter. Banque Cantonale Vaudoise now owns 75,367 shares of the company's stock worth $139,000 after acquiring an additional 46,928 shares during the last quarter. Institutional investors own 73.75% of the company's stock.

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Analysts Set New Price Targets

RMNI has been the topic of a number of analyst reports. Alliance Global Partners upgraded shares of Rimini Street from a "neutral" rating to a "buy" rating in a report on Friday, February 28th. Craig Hallum upgraded 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.

Rimini Street Trading Down 2.5 %

Shares of RMNI stock traded down $0.10 during trading hours on Friday, hitting $3.89. 719,840 shares of the company were exchanged, compared to its average volume of 282,841. The firm has a fifty day simple moving average of $3.26 and a 200 day simple moving average of $2.48. Rimini Street, Inc. has a 52-week low of $1.53 and a 52-week high of $4.15. The stock has a market capitalization of $355.14 million, a price-to-earnings ratio of -10.51 and a beta of 1.29.

Rimini Street (NASDAQ:RMNI - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.01). The business had revenue of $114.21 million during the quarter, compared to the consensus estimate of $102.57 million. Rimini Street had a negative return on equity of 83.26% and a negative net margin of 7.87%. Sell-side analysts anticipate that Rimini Street, Inc. will post 0.37 EPS for the current year.

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.