Rimini Street, Inc. (NASDAQ:RMNI) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its holdings in shares of Rimini Street, Inc. (NASDAQ:RMNI) by 20.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 278,619 shares of the company’s stock after acquiring an additional 46,511 shares during the period. Bank of New York Mellon Corp owned 0.31% of Rimini Street worth $744,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of RMNI. SG Americas Securities LLC grew its position in shares of Rimini Street by 23.2% in the fourth quarter. SG Americas Securities LLC now owns 22,527 shares of the company’s stock valued at $60,000 after purchasing an additional 4,238 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in Rimini Street by 38.0% during the third quarter. JPMorgan Chase & Co. now owns 99,602 shares of the company’s stock worth $184,000 after buying an additional 27,451 shares during the last quarter. Virtu Financial LLC purchased a new stake in Rimini Street in the 3rd quarter valued at $58,000. Barclays PLC grew its holdings in Rimini Street by 281.6% in the 3rd quarter. Barclays PLC now owns 70,291 shares of the company’s stock valued at $130,000 after buying an additional 51,870 shares in the last quarter. Finally, State Street Corp increased its stake in shares of Rimini Street by 0.8% in the 3rd quarter. State Street Corp now owns 1,020,639 shares of the company’s stock worth $1,888,000 after acquiring an additional 8,377 shares during the last quarter. Institutional investors and hedge funds own 73.75% of the company’s stock.

Analyst Ratings Changes

RMNI has been the topic of several recent research reports. Craig Hallum raised shares of Rimini Street from a “hold” rating to a “buy” rating and boosted their price target for the company from $2.00 to $6.00 in a research report on Tuesday, December 17th. Alliance Global Partners upgraded shares of Rimini Street from a “neutral” rating to a “buy” rating in a report on Friday, February 28th.

Rimini Street Stock Down 4.3 %

RMNI stock opened at $3.60 on Thursday. Rimini Street, Inc. has a 52-week low of $1.53 and a 52-week high of $4.15. The stock has a market cap of $328.67 million, a price-to-earnings ratio of -9.73 and a beta of 1.29. The business has a fifty day moving average of $3.32 and a two-hundred day moving average of $2.52.

Rimini Street (NASDAQ:RMNI) last released its quarterly earnings results on Thursday, February 27th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). The business had revenue of $114.21 million for the quarter, compared to analysts’ expectations of $102.57 million. Rimini Street had a negative return on equity of 83.26% and a negative net margin of 7.87%. As a group, sell-side analysts anticipate that Rimini Street, Inc. will post 0.37 EPS for the current 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.