Los Angeles Capital Management LLC Buys 136,645 Shares of Rimini Street, Inc. (NASDAQ:RMNI)

Los Angeles Capital Management LLC raised its position in shares of Rimini Street, Inc. (NASDAQ:RMNI) by 204.9% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 203,343 shares of the company’s stock after acquiring an additional 136,645 shares during the period. Los Angeles Capital Management LLC owned approximately 0.23% of Rimini Street worth $663,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Gerber LLC purchased a new position in shares of Rimini Street during the 4th quarter worth about $148,000. Tower Research Capital LLC TRC boosted its position in shares of Rimini Street by 78.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,569 shares of the company’s stock valued at $31,000 after buying an additional 4,221 shares during the period. Bard Associates Inc. grew its stake in shares of Rimini Street by 1.3% during the fourth quarter. Bard Associates Inc. now owns 310,300 shares of the company’s stock valued at $1,015,000 after buying an additional 3,975 shares during the last quarter. Pacific Ridge Capital Partners LLC raised 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 worth $4,526,000 after buying an additional 176,414 shares during the period. Finally, Panagora Asset Management Inc. purchased a new stake in shares of Rimini Street in the fourth quarter worth approximately $334,000. Hedge funds and other institutional investors own 73.75% of the company’s stock.

Insiders Place Their Bets

In other Rimini Street news, EVP David W. Rowe sold 10,888 shares of the company’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $2.98, for a total value of $32,446.24. Following the completion of the sale, the executive vice president now directly owns 385,941 shares in the company, valued at approximately $1,150,104.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CFO Michael L. Perica sold 30,588 shares of Rimini Street stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $2.98, for a total transaction of $91,152.24. Following the transaction, the chief financial officer now directly owns 141,517 shares of the company’s stock, valued at $421,720.66. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP David W. Rowe sold 10,888 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $2.98, for a total transaction of $32,446.24. Following the completion of the transaction, the executive vice president now directly owns 385,941 shares of the company’s stock, valued at approximately $1,150,104.18. The disclosure for this sale can be found here. Insiders have sold 123,547 shares of company stock worth $368,170 in the last ninety days. 41.32% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners cut their price objective on Rimini Street from $5.50 to $4.50 and set a “buy” rating on the stock in a research report on Friday, May 3rd.

Rimini Street Price Performance

RMNI stock opened at $2.92 on Tuesday. Rimini Street, Inc. has a 12 month low of $2.01 and a 12 month high of $5.32. The firm’s 50-day moving average is $2.66 and its 200 day moving average is $3.00. The company has a market capitalization of $264.00 million, a PE ratio of 12.17 and a beta of 1.27.

Rimini Street (NASDAQ:RMNI) last issued its earnings results on Thursday, May 2nd. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.05). Rimini Street had a negative return on equity of 66.46% and a net margin of 5.02%. The company had revenue of $106.75 million for the quarter, compared to analysts’ expectations of $107.62 million. Sell-side analysts forecast 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.