SG Americas Securities LLC Acquires 6,905 Shares of Rimini Street, Inc. (NASDAQ:RMNI)

SG Americas Securities LLC grew its holdings in Rimini Street, Inc. (NASDAQ:RMNI) by 60.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,289 shares of the company’s stock after buying an additional 6,905 shares during the period. SG Americas Securities LLC’s holdings in Rimini Street were worth $34,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Quadrature Capital Ltd purchased a new position in Rimini Street in the 1st quarter worth about $33,000. Massachusetts Financial Services Co. MA increased its holdings in shares of Rimini Street by 3.5% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 301,607 shares of the company’s stock valued at $926,000 after acquiring an additional 10,105 shares during the period. Rhumbline Advisers increased its holdings in shares of Rimini Street by 18.5% in the 2nd quarter. Rhumbline Advisers now owns 95,661 shares of the company’s stock valued at $294,000 after acquiring an additional 14,917 shares during the period. Gladius Capital Management LP bought a new position in shares of Rimini Street in the 2nd quarter worth $57,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Rimini Street during the 1st quarter worth $62,000. 73.75% of the stock is currently owned by institutional investors.

Rimini Street Stock Down 2.3 %

NASDAQ RMNI opened at $1.69 on Wednesday. Rimini Street, Inc. has a 52 week low of $1.55 and a 52 week high of $3.44. The company has a 50 day moving average price of $1.81 and a 200 day moving average price of $2.35. The firm has a market cap of $152.79 million, a PE ratio of 7.04 and a beta of 1.28.

Rimini Street (NASDAQ:RMNI) last issued 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 negative return on equity of 73.91% and a net margin of 3.80%. The business had revenue of $103.12 million for the quarter, compared to analyst estimates of $106.42 million. On average, equities research analysts anticipate that Rimini Street, Inc. will post 0.22 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Alliance Global Partners lowered Rimini Street from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 31st.

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.