Rimini Street, Inc. (NASDAQ:RMNI) Shares Purchased by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC raised its holdings in Rimini Street, Inc. (NASDAQ:RMNI) by 78.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 9,569 shares of the company’s stock after acquiring an additional 4,221 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Rimini Street were worth $31,000 as of its most recent filing with the SEC.

Several other institutional investors also recently made changes to their positions in RMNI. Strs Ohio lifted its stake in shares of Rimini Street by 34.4% in the third quarter. Strs Ohio now owns 123,900 shares of the company’s stock valued at $272,000 after purchasing an additional 31,700 shares during the period. Allspring Global Investments Holdings LLC lifted its position in shares of Rimini Street by 26.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 62,456 shares of the company’s stock valued at $137,000 after acquiring an additional 13,237 shares during the period. Los Angeles Capital Management LLC boosted its stake in shares of Rimini Street by 75.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 119,990 shares of the company’s stock worth $264,000 after acquiring an additional 51,640 shares in the last quarter. Brooktree Capital Management grew its holdings in shares of Rimini Street by 43.6% in the 3rd quarter. Brooktree Capital Management now owns 2,817,829 shares of the company’s stock worth $6,199,000 after acquiring an additional 856,085 shares during the period. Finally, Swiss National Bank increased its stake in Rimini Street by 11.0% in the 3rd quarter. Swiss National Bank now owns 127,000 shares of the company’s stock valued at $279,000 after purchasing an additional 12,600 shares in the last quarter. 73.75% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Rimini Street

In other news, EVP David W. Rowe sold 10,888 shares of the business’s stock in a transaction on Monday, April 8th. The stock was sold at an average price of $2.98, for a total value of $32,446.24. Following the completion of the transaction, the executive vice president now directly owns 385,941 shares of the company’s stock, valued at $1,150,104.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Michael L. Perica sold 30,588 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $2.98, for a total transaction of $91,152.24. Following the transaction, the chief financial officer now owns 141,517 shares of the company’s stock, valued at $421,720.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP David W. Rowe sold 10,888 shares of Rimini Street stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $2.98, for a total transaction of $32,446.24. Following the completion of the sale, the executive vice president now directly owns 385,941 shares of the company’s stock, valued at $1,150,104.18. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 150,202 shares of company stock worth $450,113. 41.32% of the stock is owned by insiders.

Rimini Street Stock Performance

NASDAQ RMNI traded down $0.06 during trading hours on Friday, reaching $2.55. The company’s stock had a trading volume of 521,404 shares, compared to its average volume of 257,385. The company’s 50-day moving average is $3.01 and its two-hundred day moving average is $3.03. Rimini Street, Inc. has a fifty-two week low of $2.01 and a fifty-two week high of $5.32. The stock has a market cap of $230.49 million, a PE ratio of 10.63 and a beta of 1.27.

Rimini Street (NASDAQ:RMNI) last released its quarterly earnings results on Wednesday, February 28th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.09 by $0.06. Rimini Street had a net margin of 5.02% and a negative return on equity of 61.55%. The business had revenue of $112.11 million for the quarter, compared to analyst estimates of $105.95 million. Equities analysts expect that Rimini Street, Inc. will post 0.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Alliance Global Partners decreased their target price on Rimini Street from $5.50 to $4.50 and set a “buy” rating on the stock in a research report on Friday.

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.