Rimini Street, Inc. (NASDAQ:RMNI) Shares Acquired by Round Hill Asset Management

Round Hill Asset Management boosted its holdings in Rimini Street, Inc. (NASDAQ:RMNI) by 54.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 348,306 shares of the company’s stock after buying an additional 122,333 shares during the quarter. Round Hill Asset Management’s holdings in Rimini Street were worth $644,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of RMNI. Brooktree Capital Management grew its position in Rimini Street by 14.6% during the 3rd quarter. Brooktree Capital Management now owns 3,509,661 shares of the company’s stock worth $6,493,000 after purchasing an additional 445,984 shares in the last quarter. Cerity Partners LLC raised its position in Rimini Street by 80.2% during the third quarter. Cerity Partners LLC now owns 306,843 shares of the company’s stock valued at $568,000 after buying an additional 136,609 shares during the period. Los Angeles Capital Management LLC increased its holdings in shares of Rimini Street by 57.9% in the 2nd quarter. Los Angeles Capital Management LLC now owns 321,082 shares of the company’s stock valued at $986,000 after purchasing an additional 117,739 shares during the period. Vanguard Group Inc. increased its holdings in shares of Rimini Street by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 4,522,843 shares of the company’s stock valued at $14,744,000 after purchasing an additional 86,755 shares during the period. Finally, Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of Rimini Street in the second quarter worth approximately $258,000. 73.75% of the stock is currently owned by institutional investors and hedge funds.

Rimini Street Trading Up 3.6 %

Shares of NASDAQ:RMNI opened at $2.00 on Friday. The business has a fifty day simple moving average of $1.85 and a 200 day simple moving average of $2.24. Rimini Street, Inc. has a 1 year low of $1.53 and a 1 year high of $3.44. The firm has a market cap of $181.84 million, a price-to-earnings ratio of -5.41 and a beta of 1.29.

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

Analyst Ratings Changes

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

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.