Public Employees Retirement System of Ohio Buys 21,100 Shares of Rimini Street, Inc. $RMNI

Public Employees Retirement System of Ohio lifted its stake in shares of Rimini Street, Inc. (NASDAQ:RMNI) by 899.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,446 shares of the company’s stock after acquiring an additional 21,100 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Rimini Street were worth $88,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Squarepoint Ops LLC bought a new stake in shares of Rimini Street during the 4th quarter worth about $40,000. NewEdge Advisors LLC bought a new stake in shares of Rimini Street during the 1st quarter worth about $66,000. Byrne Asset Management LLC boosted its stake in shares of Rimini Street by 94.7% during the 1st quarter. Byrne Asset Management LLC now owns 22,779 shares of the company’s stock worth $79,000 after acquiring an additional 11,079 shares in the last quarter. XTX Topco Ltd bought a new stake in shares of Rimini Street during the 1st quarter worth about $99,000. Finally, MetLife Investment Management LLC acquired a new position in shares of Rimini Street during the 1st quarter worth about $109,000. Institutional investors own 73.75% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Wall Street Zen cut Rimini Street from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 2nd. Weiss Ratings reissued a “sell (d+)” rating on shares of Rimini Street in a research report on Saturday, September 27th. Finally, Roth Capital set a $6.50 price objective on Rimini Street and gave the stock a “buy” rating in a research report on Thursday, July 10th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $6.25.

Insider Buying and Selling

In related news, EVP Nancy Lyskawa sold 24,344 shares of the firm’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $4.00, for a total value of $97,376.00. Following 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Michael L. Perica sold 100,249 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $4.20, for a total value of $421,045.80. Following the completion of the transaction, the chief financial officer owned 146,032 shares in the company, valued at approximately $613,334.40. This represents a 40.71% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 231,422 shares of company stock worth $969,055. 41.20% of the stock is owned by corporate insiders.

Rimini Street Trading Down 4.6%

Shares of RMNI opened at $4.53 on Wednesday. Rimini Street, Inc. has a 1 year low of $1.53 and a 1 year high of $5.38. The stock has a 50 day simple moving average of $4.39 and a 200-day simple moving average of $3.90. The stock has a market cap of $419.12 million, a PE ratio of -113.22 and a beta of 1.38.

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.