Bowling Portfolio Management LLC purchased a new position in Rimini Street, Inc. (NASDAQ:RMNI – Get Rating) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 11,710 shares of the company’s stock, valued at approximately $68,000.
Several other large investors also recently modified their holdings of the company. Northern Trust Corp increased its holdings in shares of Rimini Street by 0.9% in the 4th quarter. Northern Trust Corp now owns 407,958 shares of the company’s stock worth $2,436,000 after buying an additional 3,713 shares during the last quarter. Ruane Cunniff & Goldfarb L.P. increased its holdings in shares of Rimini Street by 24.0% in the 4th quarter. Ruane Cunniff & Goldfarb L.P. now owns 27,769 shares of the company’s stock worth $166,000 after buying an additional 5,381 shares during the last quarter. Sandy Cove Advisors LLC bought a new position in shares of Rimini Street in the 4th quarter worth $34,000. First Trust Advisors LP increased its holdings in shares of Rimini Street by 15.5% in the 4th quarter. First Trust Advisors LP now owns 50,684 shares of the company’s stock worth $303,000 after buying an additional 6,788 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of Rimini Street in the 4th quarter worth $49,000. 79.45% of the stock is currently owned by hedge funds and other institutional investors.
Separately, Alliance Global Partners raised shares of Rimini Street from a “neutral” rating to a “buy” rating and reduced their target price for the company from $10.50 to $8.50 in a report on Thursday, March 3rd.
RMNI stock opened at $5.67 on Thursday. Rimini Street, Inc. has a 52 week low of $4.19 and a 52 week high of $11.52. The firm’s fifty day moving average is $5.93 and its 200 day moving average is $5.61. The firm has a market cap of $493.52 million, a P/E ratio of 8.59, a P/E/G ratio of 1.23 and a beta of 0.78.
Rimini Street (NASDAQ:RMNI – Get Rating) last released its earnings results on Wednesday, May 4th. The company reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. Rimini Street had a net margin of 18.27% and a negative return on equity of 72.75%. During the same quarter last year, the company posted ($0.01) EPS. As a group, equities analysts predict that Rimini Street, Inc. will post 0.46 earnings per share for the current fiscal year.
Rimini Street Company Profile (Get Rating)
Rimini Street, Inc provides enterprise software products, services, and support for various industries. The company offers software support services for Oracle and SAP enterprise software products. It sells its solutions primarily through direct sales organizations in North America, Latin America, Europe, Africa, the Middle East, Asia, and the Asia-Pacific.
- Get a free copy of the StockNews.com research report on Rimini Street (RMNI)
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