BNP Paribas Financial Markets Cuts Stock Position in Rimini Street, Inc. (NASDAQ:RMNI)

BNP Paribas Financial Markets lowered its holdings in Rimini Street, Inc. (NASDAQ:RMNIFree Report) by 7.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 99,610 shares of the company’s stock after selling 8,065 shares during the period. BNP Paribas Financial Markets owned approximately 0.11% of Rimini Street worth $326,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in RMNI. SG Americas Securities LLC acquired a new stake in Rimini Street in the 4th quarter valued at about $39,000. Legato Capital Management LLC purchased a new position in Rimini Street in the fourth quarter worth approximately $55,000. Lee Danner & Bass Inc. acquired a new position in Rimini Street during the 4th quarter worth approximately $65,000. Ruane Cunniff & Goldfarb L.P. grew its holdings in Rimini Street by 22.3% during the 3rd quarter. Ruane Cunniff & Goldfarb L.P. now owns 29,442 shares of the company’s stock worth $65,000 after acquiring an additional 5,369 shares in the last quarter. Finally, LSV Asset Management increased its position in shares of Rimini Street by 9.7% in the 4th quarter. LSV Asset Management now owns 58,016 shares of the company’s stock valued at $190,000 after purchasing an additional 5,116 shares during the last quarter. 73.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Alliance Global Partners lowered their target price on shares of Rimini Street from $5.50 to $4.50 and set a “buy” rating for the company in a research note on Friday, May 3rd.

View Our Latest Research Report on RMNI

Rimini Street Stock Performance

Shares of NASDAQ RMNI opened at $2.53 on Wednesday. The stock’s 50-day simple moving average is $2.74 and its 200-day simple moving average is $3.04. The firm has a market capitalization of $228.74 million, a PE ratio of 10.54 and a beta of 1.27. Rimini Street, Inc. has a fifty-two week low of $2.01 and a fifty-two week high of $5.32.

Rimini Street (NASDAQ:RMNIGet Free Report) last released its quarterly earnings results on Thursday, May 2nd. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.05). Rimini Street had a negative return on equity of 66.46% and a net margin of 5.02%. The firm had revenue of $106.75 million for the quarter, compared to analysts’ expectations of $107.62 million. On average, sell-side analysts forecast that Rimini Street, Inc. will post 0.29 earnings per share for the current fiscal year.

Insider Buying and Selling at Rimini Street

In other news, EVP David W. Rowe sold 10,888 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $2.98, for a total transaction of $32,446.24. Following the completion of the sale, the executive vice president now owns 385,941 shares in the company, valued at $1,150,104.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Rimini Street news, CFO Michael L. Perica sold 30,588 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $2.98, for a total transaction of $91,152.24. Following the transaction, the chief financial officer now owns 141,517 shares in the company, valued at approximately $421,720.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP David W. Rowe sold 10,888 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $2.98, for a total value of $32,446.24. Following the transaction, the executive vice president now directly owns 385,941 shares of the company’s stock, valued at $1,150,104.18. The disclosure for this sale can be found here. Over the last three months, insiders have sold 123,547 shares of company stock worth $368,170. 41.32% of the stock is owned by company insiders.

Rimini Street Company Profile

(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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Institutional Ownership by Quarter for Rimini Street (NASDAQ:RMNI)

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