Barclays PLC Purchases 51,870 Shares of Rimini Street, Inc. (NASDAQ:RMNI)

Barclays PLC raised its position in shares of Rimini Street, Inc. (NASDAQ:RMNI) by 281.6% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 70,291 shares of the company’s stock after acquiring an additional 51,870 shares during the quarter. Barclays PLC owned approximately 0.08% of Rimini Street worth $130,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. SG Americas Securities LLC boosted its position in Rimini Street by 60.7% during the 3rd quarter. SG Americas Securities LLC now owns 18,289 shares of the company’s stock valued at $34,000 after acquiring an additional 6,905 shares in the last quarter. Ruane Cunniff & Goldfarb L.P. lifted its holdings in shares of Rimini Street by 34.3% during the third quarter. Ruane Cunniff & Goldfarb L.P. now owns 38,090 shares of the company’s stock valued at $70,000 after purchasing an additional 9,719 shares during the last quarter. Gladius Capital Management LP lifted its holdings in shares of Rimini Street by 201.2% during the third quarter. Gladius Capital Management LP now owns 56,018 shares of the company’s stock valued at $104,000 after purchasing an additional 37,418 shares during the last quarter. Banque Cantonale Vaudoise lifted its holdings in shares of Rimini Street by 165.0% during the third quarter. Banque Cantonale Vaudoise now owns 75,367 shares of the company’s stock valued at $139,000 after purchasing an additional 46,928 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of Rimini Street by 40.3% during the third quarter. BNP Paribas Financial Markets now owns 103,963 shares of the company’s stock valued at $192,000 after purchasing an additional 29,866 shares during the last quarter. 73.75% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Craig Hallum upgraded shares of Rimini Street from a “hold” rating to a “buy” rating and lifted their target price for the company from $2.00 to $6.00 in a report on Tuesday, December 17th.

Rimini Street Stock Performance

RMNI stock opened at $2.70 on Thursday. The firm has a 50 day moving average price of $2.22 and a 200-day moving average price of $2.18. Rimini Street, Inc. has a 52-week low of $1.53 and a 52-week high of $3.43. The firm has a market capitalization of $245.48 million, a price-to-earnings ratio of -7.30 and a beta of 1.28.

Rimini Street (NASDAQ:RMNI) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.15. Rimini Street had a negative net margin of 7.87% and a negative return on equity of 83.26%. The company had revenue of $104.67 million during the quarter, compared to analyst estimates of $99.39 million. As a group, sell-side analysts forecast that Rimini Street, Inc. will post 0.37 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Rimini Street news, CEO Seth A. Ravin sold 14,375 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $2.20, for a total transaction of $31,625.00. Following the completion of the sale, the chief executive officer now directly owns 444,914 shares in the company, valued at approximately $978,810.80. The trade was a 3.13 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 41.00% of the stock is owned by company insiders.

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.