Pacific Ridge Capital Partners LLC Boosts Holdings in Rimini Street, Inc. (NASDAQ:RMNI)

Pacific Ridge Capital Partners LLC grew its stake in shares of Rimini Street, Inc. (NASDAQ:RMNI) by 33.8% in the fourth quarter, HoldingsChannel reports. The fund owned 1,545,671 shares of the company’s stock after buying an additional 390,131 shares during the quarter. Pacific Ridge Capital Partners LLC’s holdings in Rimini Street were worth $4,127,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Janus Henderson Group PLC purchased a new stake in Rimini Street in the third quarter valued at approximately $210,000. SG Americas Securities LLC grew its stake in shares of Rimini Street by 23.2% during the 4th quarter. SG Americas Securities LLC now owns 22,527 shares of the company’s stock valued at $60,000 after buying an additional 4,238 shares during the period. Cerity Partners LLC increased its holdings in shares of Rimini Street by 80.2% during the 3rd quarter. Cerity Partners LLC now owns 306,843 shares of the company’s stock worth $568,000 after buying an additional 136,609 shares during the last quarter. State Street Corp raised its position in shares of Rimini Street by 0.8% in the 3rd quarter. State Street Corp now owns 1,020,639 shares of the company’s stock worth $1,888,000 after buying an additional 8,377 shares during the period. Finally, Barclays PLC boosted its holdings in Rimini Street by 281.6% in the third quarter. Barclays PLC now owns 70,291 shares of the company’s stock valued at $130,000 after acquiring an additional 51,870 shares during the last quarter. 73.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Rimini Street Trading Down 4.3 %

Shares of RMNI stock opened at $3.60 on Thursday. The company has a market cap of $328.67 million, a PE ratio of -9.73 and a beta of 1.29. The company’s fifty day simple moving average is $3.32 and its 200-day simple moving average is $2.52. Rimini Street, Inc. has a 52 week low of $1.53 and a 52 week high of $4.15.

Rimini Street (NASDAQ:RMNI) last released its quarterly earnings data on Thursday, February 27th. The company reported $0.09 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 company had revenue of $114.21 million during the quarter, compared to analysts’ expectations of $102.57 million. Equities research analysts expect that Rimini Street, Inc. will post 0.37 EPS for the current fiscal year.

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.