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

Brooktree Capital Management increased its holdings in shares of Rimini Street, Inc. (NASDAQ:RMNI - Free Report) by 14.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,509,661 shares of the company's stock after buying an additional 445,984 shares during the period. Rimini Street comprises 5.3% of Brooktree Capital Management's investment portfolio, making the stock its 9th largest holding. Brooktree Capital Management owned approximately 3.86% of Rimini Street worth $6,493,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in RMNI. Vanguard Group Inc. grew its position in shares of Rimini Street by 2.0% during the first quarter. Vanguard Group Inc. now owns 4,522,843 shares of the company's stock worth $14,744,000 after buying an additional 86,755 shares in the last quarter. Acadian Asset Management LLC grew its holdings in Rimini Street by 1.9% during the 2nd quarter. Acadian Asset Management LLC now owns 2,220,161 shares of the company's stock worth $6,813,000 after acquiring an additional 41,139 shares in the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of Rimini Street by 2.3% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 2,007,515 shares of the company's stock valued at $6,163,000 after purchasing an additional 44,401 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Rimini Street by 3.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 806,670 shares of the company's stock valued at $2,477,000 after purchasing an additional 26,694 shares in the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in shares of Rimini Street by 57.9% during the 2nd quarter. Los Angeles Capital Management LLC now owns 321,082 shares of the company's stock worth $986,000 after purchasing an additional 117,739 shares during the last quarter. 73.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners lowered Rimini Street from a "buy" rating to a "neutral" rating in a report on Wednesday, July 31st.

Rimini Street Trading Down 0.5 %

RMNI stock traded down $0.01 during trading on Thursday, hitting $1.95. 289,517 shares of the company's stock were exchanged, compared to its average volume of 262,453. The business has a 50-day moving average price of $1.83 and a two-hundred day moving average price of $2.27. The stock has a market capitalization of $177.29 million, a price-to-earnings ratio of -5.27 and a beta of 1.29. Rimini Street, Inc. has a 52-week low of $1.53 and a 52-week high of $3.44.

Rimini Street (NASDAQ:RMNI - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.15. The business had revenue of $104.67 million during the quarter, compared to the consensus estimate of $99.39 million. Rimini Street had a negative net margin of 7.87% and a negative return on equity of 83.26%. On average, equities research analysts anticipate that Rimini Street, Inc. will post 0.37 earnings per share for the current fiscal 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.