Massachusetts Financial Services Co. MA Purchases 10,105 Shares of Rimini Street, Inc. (NASDAQ:RMNI)

Massachusetts Financial Services Co. MA increased its position in Rimini Street, Inc. (NASDAQ:RMNI) by 3.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 301,607 shares of the company’s stock after acquiring an additional 10,105 shares during the period. Massachusetts Financial Services Co. MA owned about 0.33% of Rimini Street worth $926,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in RMNI. Quadrature Capital Ltd purchased a new position in shares of Rimini Street in the first quarter worth $33,000. SG Americas Securities LLC bought a new position in Rimini Street during the 2nd quarter valued at about $35,000. Gladius Capital Management LP purchased a new stake in shares of Rimini Street during the 2nd quarter valued at about $57,000. Lee Danner & Bass Inc. purchased a new stake in shares of Rimini Street during the 2nd quarter valued at about $61,000. Finally, Byrne Asset Management LLC bought a new stake in shares of Rimini Street in the second quarter worth approximately $62,000. 73.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

Rimini Street Price Performance

Shares of RMNI opened at $1.82 on Monday. The firm has a market capitalization of $164.55 million, a P/E ratio of 7.58 and a beta of 1.28. Rimini Street, Inc. has a one year low of $1.55 and a one year high of $3.44. The business has a fifty day moving average of $2.12 and a 200 day moving average of $2.59.

Rimini Street (NASDAQ:RMNI) last released its quarterly earnings results on Wednesday, July 31st. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $103.12 million for the quarter, compared to the consensus estimate of $106.42 million. Analysts expect that Rimini Street, Inc. will post 0.22 EPS for the current fiscal 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.