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

Round Hill Asset Management increased its stake in shares of Rimini Street, Inc. (NASDAQ:RMNI) by 13.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 394,263 shares of the company’s stock after buying an additional 45,957 shares during the quarter. Round Hill Asset Management owned about 0.43% of Rimini Street worth $1,053,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Wells Fargo & Company MN increased its stake in shares of Rimini Street by 27.7% in the fourth quarter. Wells Fargo & Company MN now owns 32,415 shares of the company’s stock valued at $87,000 after purchasing an additional 7,023 shares during the period. Geode Capital Management LLC grew its holdings in Rimini Street by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 1,221,314 shares of the company’s stock worth $3,261,000 after buying an additional 8,211 shares in the last quarter. Pacific Ridge Capital Partners LLC increased its position in Rimini Street by 33.8% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 1,545,671 shares of the company’s stock valued at $4,127,000 after acquiring an additional 390,131 shares during the period. JPMorgan Chase & Co. raised its stake in Rimini Street by 104.2% during the 4th quarter. JPMorgan Chase & Co. now owns 203,430 shares of the company’s stock valued at $543,000 after acquiring an additional 103,828 shares in the last quarter. Finally, Prudential Financial Inc. boosted its position in Rimini Street by 67.0% during the 4th quarter. Prudential Financial Inc. now owns 19,935 shares of the company’s stock worth $53,000 after acquiring an additional 8,000 shares during the period. 73.75% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Rimini Street Stock Performance

Shares of NASDAQ RMNI opened at $3.23 on Monday. Rimini Street, Inc. has a 1 year low of $1.53 and a 1 year high of $4.15. The firm has a market cap of $294.89 million, a P/E ratio of -8.73 and a beta of 1.31. The stock has a fifty day moving average price of $3.41 and a two-hundred day moving average price of $2.61.

Rimini Street (NASDAQ:RMNI) last announced its earnings results on Thursday, February 27th. The company reported $0.09 earnings per share 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 firm had revenue of $114.21 million for the quarter, compared to the consensus estimate of $102.57 million. On average, research analysts predict that Rimini Street, Inc. will post 0.37 earnings per share for the current fiscal 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.