Rimini Street, Inc. (NASDAQ:RMNI) Shares Sold by Pacific Ridge Capital Partners LLC

Pacific Ridge Capital Partners LLC reduced its holdings in shares of Rimini Street, Inc. (NASDAQ:RMNI) by 3.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,272,779 shares of the company’s stock after selling 47,865 shares during the quarter. Pacific Ridge Capital Partners LLC owned 1.40% of Rimini Street worth $3,907,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Acadian Asset Management LLC boosted 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 valued at $7,099,000 after acquiring an additional 663,781 shares during the last quarter. LSV Asset Management increased its holdings in 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 last quarter. Los Angeles Capital Management LLC raised its stake in 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 buying an additional 136,645 shares in the last quarter. Vanguard Group Inc. lifted its holdings in Rimini Street by 2.0% during the 1st 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 during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC bought a new position in Rimini Street during the 2nd quarter worth approximately $258,000. Institutional investors and hedge funds own 73.75% of the company’s stock.

Rimini Street Stock Performance

NASDAQ RMNI opened at $1.87 on Friday. The firm has a market capitalization of $169.61 million, a PE ratio of 7.79 and a beta of 1.28. Rimini Street, Inc. has a one year low of $1.55 and a one year high of $3.43. The company has a 50-day simple moving average of $2.00 and a 200-day simple moving average of $2.55.

Rimini Street (NASDAQ:RMNI) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.07 by ($0.03). The company had revenue of $103.12 million during the quarter, compared to the consensus estimate of $106.42 million. Rimini Street had a negative return on equity of 73.91% and a net margin of 3.80%. Equities analysts forecast that Rimini Street, Inc. will post 0.22 earnings per share for the current year.

Analyst Ratings Changes

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

Rimini Street 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.