Rimini Street, Inc. (NASDAQ:RMNI) Short Interest Down 13.2% in February

Rimini Street, Inc. (NASDAQ:RMNI) was the recipient of a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 795,900 shares, a drop of 13.2% from the February 13th total of 917,400 shares. Approximately 1.7% of the company’s shares are short sold. Based on an average daily volume of 367,400 shares, the days-to-cover ratio is currently 2.2 days.

Institutional Investors Weigh In On Rimini Street

Institutional investors have recently bought and sold shares of the company. ProShare Advisors LLC lifted its stake in Rimini Street by 49.1% in the 4th quarter. ProShare Advisors LLC now owns 14,942 shares of the company’s stock valued at $40,000 after acquiring an additional 4,918 shares in the last quarter. Squarepoint Ops LLC bought a new stake in Rimini Street in the 4th quarter valued at approximately $40,000. Prudential Financial Inc. lifted its stake in Rimini Street by 67.0% in the 4th quarter. Prudential Financial Inc. now owns 19,935 shares of the company’s stock valued at $53,000 after acquiring an additional 8,000 shares in the last quarter. Virtu Financial LLC bought a new stake in Rimini Street in the 3rd quarter valued at approximately $58,000. Finally, SG Americas Securities LLC lifted its stake in Rimini Street by 23.2% in the 4th quarter. SG Americas Securities LLC now owns 22,527 shares of the company’s stock valued at $60,000 after acquiring an additional 4,238 shares in the last quarter. Institutional investors own 73.75% of the company’s stock.

Rimini Street Stock Up 0.4 %

Shares of RMNI traded up $0.02 on Wednesday, hitting $4.04. The company’s stock had a trading volume of 22,606 shares, compared to its average volume of 280,090. The firm’s fifty day moving average price is $3.18 and its 200-day moving average price is $2.44. Rimini Street has a fifty-two week low of $1.53 and a fifty-two week high of $4.15. The firm has a market capitalization of $368.38 million, a price-to-earnings ratio of -10.91 and a beta of 1.29.

Rimini Street (NASDAQ:RMNI) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.01). Rimini Street had a negative net margin of 7.87% and a negative return on equity of 83.26%. The business had revenue of $114.21 million during the quarter, compared to analyst estimates of $102.57 million. As a group, equities analysts predict that Rimini Street will post 0.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on RMNI shares. Craig Hallum upgraded Rimini Street from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $2.00 to $6.00 in a research report on Tuesday, December 17th. Alliance Global Partners upgraded Rimini Street from a “neutral” rating to a “buy” rating in a research report on Friday, February 28th.

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.