Cerity Partners LLC Grows Stock Position in Rimini Street, Inc. (NASDAQ:RMNI)

Cerity Partners LLC increased its stake in shares of Rimini Street, Inc. (NASDAQ:RMNI) by 80.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 306,843 shares of the company’s stock after purchasing an additional 136,609 shares during the quarter. Cerity Partners LLC owned approximately 0.34% of Rimini Street worth $568,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of RMNI. SG Americas Securities LLC acquired a new position in Rimini Street during the 2nd quarter worth approximately $35,000. Gladius Capital Management LP bought a new position in shares of Rimini Street during the 2nd quarter valued at about $57,000. Lee Danner & Bass Inc. acquired a new stake in shares of Rimini Street during the 2nd quarter valued at $61,000. Byrne Asset Management LLC acquired a new stake in Rimini Street during the 2nd quarter worth about $62,000. Finally, Allspring Global Investments Holdings LLC boosted its stake in Rimini Street by 21,886.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 35,838 shares of the company’s stock worth $110,000 after purchasing an additional 35,675 shares during the period. Hedge funds and other institutional investors own 73.75% of the company’s stock.

Rimini Street Stock Performance

RMNI stock opened at $1.99 on Friday. The stock has a market cap of $180.93 million, a P/E ratio of -5.38 and a beta of 1.34. Rimini Street, Inc. has a 52 week low of $1.53 and a 52 week high of $3.43. The firm has a 50 day simple moving average of $1.90 and a 200 day simple moving average of $2.21.

Rimini Street (NASDAQ:RMNI) last posted its earnings results on Wednesday, October 30th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.15. The business had revenue of $104.67 million for the quarter, compared to analyst estimates of $99.39 million. Rimini Street had a negative net margin of 7.87% and a negative return on equity of 83.26%. Sell-side analysts predict that Rimini Street, Inc. will post 0.37 EPS for the current year.

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.