Rhumbline Advisers Acquires 14,917 Shares of Rimini Street, Inc. (NASDAQ:RMNI)

Rhumbline Advisers grew its holdings in shares of Rimini Street, Inc. (NASDAQ:RMNI) by 18.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 95,661 shares of the company’s stock after purchasing an additional 14,917 shares during the quarter. Rhumbline Advisers owned about 0.11% of Rimini Street worth $294,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of RMNI. Bard Associates Inc. raised its holdings in shares of Rimini Street by 1.3% during the 4th quarter. Bard Associates Inc. now owns 310,300 shares of the company’s stock valued at $1,015,000 after purchasing an additional 3,975 shares in the last quarter. Gerber LLC bought a new position in Rimini Street in the 4th quarter worth $148,000. Los Angeles Capital Management LLC raised its holdings in Rimini Street by 204.9% in the 1st quarter. Los Angeles Capital Management LLC now owns 203,343 shares of the company’s stock worth $663,000 after acquiring an additional 136,645 shares during the period. Banque Cantonale Vaudoise bought a new position in Rimini Street in the 1st quarter worth $88,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in Rimini Street in the 1st quarter worth $62,000. Institutional investors own 73.75% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners downgraded shares of Rimini Street from a “buy” rating to a “neutral” rating in a report on Wednesday, July 31st.

Rimini Street Price Performance

NASDAQ RMNI opened at $1.87 on Friday. The firm has a market capitalization of $169.61 million, a price-to-earnings ratio of 7.79 and a beta of 1.28. The company’s fifty day moving average is $2.00 and its two-hundred day moving average is $2.55. Rimini Street, Inc. has a 52-week low of $1.55 and a 52-week high of $3.43.

Rimini Street (NASDAQ:RMNI) last issued its earnings results on Wednesday, July 31st. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03). Rimini Street had a net margin of 3.80% and a negative return on equity of 73.91%. The business had revenue of $103.12 million for the quarter, compared to analyst estimates of $106.42 million. As a group, sell-side analysts expect that Rimini Street, Inc. will post 0.22 earnings per share for the current fiscal year.

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.