Nuveen LLC Takes $473,000 Position in Rimini Street, Inc. $RMNI

Nuveen LLC acquired a new stake in shares of Rimini Street, Inc. (NASDAQ:RMNI) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 135,971 shares of the company’s stock, valued at approximately $473,000. Nuveen LLC owned about 0.15% of Rimini Street as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Cerity Partners LLC raised its position in Rimini Street by 13.8% in the first quarter. Cerity Partners LLC now owns 349,713 shares of the company’s stock worth $1,217,000 after purchasing an additional 42,542 shares in the last quarter. Mackenzie Financial Corp boosted its position in shares of Rimini Street by 432.4% during the fourth quarter. Mackenzie Financial Corp now owns 152,660 shares of the company’s stock worth $408,000 after purchasing an additional 123,984 shares in the last quarter. Millennium Management LLC bought a new stake in Rimini Street in the 4th quarter valued at $799,000. Price T Rowe Associates Inc. MD lifted its position in Rimini Street by 6.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 73,906 shares of the company’s stock valued at $198,000 after acquiring an additional 4,477 shares in the last quarter. Finally, Two Sigma Advisers LP increased its stake in Rimini Street by 64.5% in the 4th quarter. Two Sigma Advisers LP now owns 63,500 shares of the company’s stock valued at $170,000 after buying an additional 24,900 shares during the last quarter. Institutional investors and hedge funds own 73.75% of the company’s stock.

Insider Transactions at Rimini Street

In other Rimini Street news, EVP Nancy Lyskawa sold 24,344 shares of the stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $4.00, for a total transaction of $97,376.00. Following the completion of the transaction, the executive vice president owned 160,609 shares in the company, valued at $642,436. This trade represents a 13.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Michael L. Perica sold 100,249 shares of the firm’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $4.20, for a total transaction of $421,045.80. Following the completion of the transaction, the chief financial officer owned 146,032 shares of the company’s stock, valued at $613,334.40. This trade represents a 40.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 226,554 shares of company stock valued at $946,418 in the last 90 days. 41.20% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

RMNI has been the topic of several recent analyst reports. Roth Capital set a $6.50 price objective on shares of Rimini Street and gave the stock a “buy” rating in a research note on Thursday, July 10th. Wall Street Zen cut shares of Rimini Street from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 2nd. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Rimini Street currently has an average rating of “Buy” and an average price target of $6.25.

Rimini Street Price Performance

Shares of RMNI stock opened at $4.39 on Friday. The firm has a 50-day moving average of $4.34 and a 200-day moving average of $3.74. The company has a market cap of $406.16 million, a P/E ratio of -109.72 and a beta of 1.46. Rimini Street, Inc. has a one year low of $1.53 and a one year high of $5.38.

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.