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

Round Hill Asset Management lifted its position in Rimini Street, Inc. (NASDAQ:RMNI) by 54.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 348,306 shares of the company’s stock after purchasing an additional 122,333 shares during the quarter. Round Hill Asset Management owned about 0.38% of Rimini Street worth $644,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Brooktree Capital Management increased its holdings 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 during the period. Quadrature Capital Ltd purchased a new stake in Rimini Street during the 1st quarter valued at approximately $33,000. Vanguard Group Inc. lifted its holdings in shares of Rimini Street by 2.0% during the first quarter. Vanguard Group Inc. now owns 4,522,843 shares of the company’s stock worth $14,744,000 after purchasing an additional 86,755 shares during the period. Panagora Asset Management Inc. boosted its holdings in shares of Rimini Street by 29.7% in the second quarter. Panagora Asset Management Inc. now owns 128,705 shares of the company’s stock valued at $395,000 after acquiring an additional 29,468 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its holdings in Rimini Street by 1.9% in the 2nd quarter. Acadian Asset Management LLC now owns 2,220,161 shares of the company’s stock valued at $6,813,000 after purchasing an additional 41,139 shares in the last quarter. Hedge funds and other institutional investors own 73.75% of the company’s stock.

Rimini Street Stock Up 3.6 %

Shares of NASDAQ RMNI opened at $2.00 on Friday. The stock has a market capitalization of $181.84 million, a PE ratio of -5.41 and a beta of 1.29. The firm has a fifty day moving average of $1.85 and a 200-day moving average of $2.24. Rimini Street, Inc. has a 52-week low of $1.53 and a 52-week high of $3.44.

Rimini Street (NASDAQ:RMNI) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.15. The company had revenue of $104.67 million during the quarter, compared to the consensus estimate of $99.39 million. Rimini Street had a negative net margin of 7.87% and a negative return on equity of 83.26%. Equities research analysts expect that Rimini Street, Inc. will post 0.37 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners downgraded Rimini Street from a “buy” rating to a “neutral” rating in a research note 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.