SG Americas Securities LLC Takes Position in Rimini Street, Inc. (NASDAQ:RMNI)

SG Americas Securities LLC purchased a new stake in Rimini Street, Inc. (NASDAQ:RMNI) in the second quarter, according to its most recent filing with the SEC. The fund purchased 11,384 shares of the company’s stock, valued at approximately $35,000.

A number of other institutional investors have also made changes to their positions in RMNI. Acadian Asset Management LLC grew its stake in Rimini Street by 43.8% during the 1st quarter. Acadian Asset Management LLC now owns 2,179,022 shares of the company’s stock worth $7,099,000 after buying an additional 663,781 shares during the last quarter. LSV Asset Management lifted its holdings in shares of Rimini Street by 799.6% in the first quarter. LSV Asset Management now owns 521,900 shares of the company’s stock valued at $1,701,000 after buying an additional 463,884 shares during the period. Pacific Ridge Capital Partners LLC lifted its holdings in shares of Rimini Street by 14.6% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 1,383,969 shares of the company’s stock valued at $4,526,000 after buying an additional 176,414 shares during the period. Los Angeles Capital Management LLC lifted its holdings in shares of Rimini Street by 204.9% during the first quarter. Los Angeles Capital Management LLC now owns 203,343 shares of the company’s stock valued at $663,000 after purchasing an additional 136,645 shares during the last quarter. Finally, Boston Partners lifted its holdings in shares of Rimini Street by 258.1% during the fourth quarter. Boston Partners now owns 189,098 shares of the company’s stock valued at $618,000 after purchasing an additional 136,296 shares during the last quarter. 73.75% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Rimini Street Stock Down 6.2 %

Shares of NASDAQ RMNI opened at $1.81 on Wednesday. The company has a market cap of $163.64 million, a price-to-earnings ratio of 7.54 and a beta of 1.29. Rimini Street, Inc. has a 12 month low of $1.55 and a 12 month high of $3.44. The business has a fifty day simple moving average of $2.52 and a 200-day simple moving average of $2.75.

Rimini Street (NASDAQ:RMNI) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03). The business had revenue of $103.12 million for the quarter, compared to analyst estimates of $106.42 million. Rimini Street had a net margin of 3.80% and a negative return on equity of 73.91%. As a group, sell-side analysts expect that Rimini Street, Inc. will post 0.29 EPS for the current fiscal year.

Rimini Street Company Profile

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.