Voya Investment Management LLC Has $55,000 Stake in Rimini Street, Inc. $RMNI

Voya Investment Management LLC decreased its holdings in Rimini Street, Inc. (NASDAQ:RMNI) by 21.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 15,796 shares of the company’s stock after selling 4,195 shares during the period. Voya Investment Management LLC’s holdings in Rimini Street were worth $55,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Financial Management Professionals Inc. acquired a new position in Rimini Street in the first quarter worth approximately $44,000. ProShare Advisors LLC increased its holdings in Rimini Street by 49.1% in the fourth quarter. ProShare Advisors LLC now owns 14,942 shares of the company’s stock worth $40,000 after buying an additional 4,918 shares during the last quarter. Squarepoint Ops LLC acquired a new position in Rimini Street in the fourth quarter worth approximately $40,000. NewEdge Advisors LLC acquired a new position in Rimini Street in the first quarter worth approximately $66,000. Finally, Byrne Asset Management LLC increased its holdings in Rimini Street by 94.7% in the first quarter. Byrne Asset Management LLC now owns 22,779 shares of the company’s stock worth $79,000 after buying an additional 11,079 shares during the last quarter. Institutional investors and hedge funds own 73.75% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Wall Street Zen downgraded Rimini Street from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 2nd. Roth Capital set a $6.50 price objective on Rimini Street and gave the stock a “buy” rating in a report on Thursday, July 10th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $6.25.

Insiders Place Their Bets

In related news, CFO Michael L. Perica sold 100,249 shares of the business’s stock in a transaction 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 transaction, the chief financial officer owned 146,032 shares of the company’s stock, valued at approximately $613,334.40. The trade was a 40.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Nancy Lyskawa sold 24,344 shares of the firm’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $4.00, for a total value of $97,376.00. Following the completion of the transaction, the executive vice president directly owned 160,609 shares of the company’s stock, valued at approximately $642,436. This trade represents a 13.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 231,422 shares of company stock worth $969,055 in the last ninety days. 41.20% of the stock is currently owned by insiders.

Rimini Street Trading Down 0.2%

Shares of RMNI stock opened at $4.67 on Thursday. Rimini Street, Inc. has a 1 year low of $1.53 and a 1 year high of $5.38. The firm’s fifty day simple moving average is $4.39 and its 200 day simple moving average is $3.88. The firm has a market capitalization of $432.07 million, a P/E ratio of -116.72 and a beta of 1.38.

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.