Vanguard Group Inc. Boosts Stock Position in Rimini Street, Inc. (NASDAQ:RMNI)

Vanguard Group Inc. boosted its holdings in shares of Rimini Street, Inc. (NASDAQ:RMNI) by 2.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,522,843 shares of the company’s stock after purchasing an additional 86,755 shares during the quarter. Vanguard Group Inc. owned about 5.00% of Rimini Street worth $14,744,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Tower Research Capital LLC TRC increased its holdings in shares of Rimini Street by 78.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,569 shares of the company’s stock worth $31,000 after buying an additional 4,221 shares during the last quarter. SG Americas Securities LLC bought a new stake in Rimini Street during the fourth quarter worth approximately $39,000. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Rimini Street in the 1st quarter valued at approximately $62,000. Lee Danner & Bass Inc. purchased a new position in shares of Rimini Street in the 4th quarter worth approximately $65,000. Finally, Banque Cantonale Vaudoise bought a new position in shares of Rimini Street during the 1st quarter valued at approximately $88,000. Institutional investors own 73.75% of the company’s stock.

Analysts Set New Price Targets

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

Rimini Street Trading Down 9.5 %

RMNI stock opened at $1.72 on Tuesday. Rimini Street, Inc. has a 12 month low of $1.55 and a 12 month high of $3.44. The stock has a market cap of $155.51 million, a PE ratio of 7.17 and a beta of 1.29. The company has a 50-day moving average price of $2.74 and a 200 day moving average price of $2.86.

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.