Diamond Hill Capital Management Inc. lessened its stake in Rimini Street, Inc. (NASDAQ:RMNI - Free Report) by 83.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 304,826 shares of the company's stock after selling 1,539,819 shares during the quarter. Diamond Hill Capital Management Inc. owned about 0.34% of Rimini Street worth $814,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RMNI. Virtu Financial LLC acquired a new stake in Rimini Street in the 3rd quarter valued at about $58,000. SG Americas Securities LLC increased its position in Rimini Street by 23.2% in the 4th quarter. SG Americas Securities LLC now owns 22,527 shares of the company's stock valued at $60,000 after acquiring an additional 4,238 shares in the last quarter. Ruane Cunniff & Goldfarb L.P. increased its position in Rimini Street by 34.3% in the 3rd quarter. Ruane Cunniff & Goldfarb L.P. now owns 38,090 shares of the company's stock valued at $70,000 after acquiring an additional 9,719 shares in the last quarter. Gladius Capital Management LP increased its position in Rimini Street by 201.2% in the 3rd quarter. Gladius Capital Management LP now owns 56,018 shares of the company's stock valued at $104,000 after acquiring an additional 37,418 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of Rimini Street by 281.6% in the 3rd quarter. Barclays PLC now owns 70,291 shares of the company's stock valued at $130,000 after purchasing an additional 51,870 shares during the last quarter. Institutional investors and hedge funds own 73.75% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have recently issued reports on the stock. Craig Hallum raised shares of Rimini Street from a "hold" rating to a "buy" rating and raised their target price for the company from $2.00 to $6.00 in a research note on Tuesday, December 17th. Alliance Global Partners raised shares of Rimini Street from a "neutral" rating to a "buy" rating in a research note on Friday, February 28th.
Get Our Latest Stock Analysis on RMNI
Rimini Street Stock Performance
Shares of NASDAQ RMNI remained flat at $4.02 during mid-day trading on Wednesday. 158,428 shares of the stock traded hands, compared to its average volume of 280,626. The stock has a market capitalization of $367.01 million, a PE ratio of -10.86 and a beta of 1.29. Rimini Street, Inc. has a one year low of $1.53 and a one year high of $4.15. The company has a 50 day simple moving average of $3.18 and a two-hundred day simple moving average of $2.44.
Rimini Street (NASDAQ:RMNI - Get Free Report) last released its quarterly earnings data 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 return on equity of 83.26% and a negative net margin of 7.87%. The firm had revenue of $114.21 million for the quarter, compared to the consensus estimate of $102.57 million. On average, equities research analysts anticipate that Rimini Street, Inc. will post 0.37 EPS for the current fiscal year.
About Rimini Street
(
Free Report)
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.
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