Rimini Street, Inc. (NASDAQ:RMNI) Shares Acquired by Bridgeway Capital Management LLC

Bridgeway Capital Management LLC boosted its holdings in Rimini Street, Inc. (NASDAQ:RMNI) by 7.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 545,100 shares of the company’s stock after purchasing an additional 40,000 shares during the quarter. Bridgeway Capital Management LLC owned about 0.60% of Rimini Street worth $1,455,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in RMNI. Prudential Financial Inc. increased its position in shares of Rimini Street by 67.0% during the fourth quarter. Prudential Financial Inc. now owns 19,935 shares of the company’s stock worth $53,000 after purchasing an additional 8,000 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of Rimini Street by 23.2% in the fourth 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 last quarter. Walleye Capital LLC acquired a new stake in shares of Rimini Street during the fourth quarter worth about $63,000. DRW Securities LLC purchased a new position in shares of Rimini Street during the fourth quarter worth about $80,000. Finally, Wells Fargo & Company MN increased its position in Rimini Street by 27.7% in the 4th quarter. Wells Fargo & Company MN now owns 32,415 shares of the company’s stock valued at $87,000 after acquiring an additional 7,023 shares during the period. 73.75% of the stock is currently owned by hedge funds and other institutional investors.

Rimini Street Stock Performance

RMNI stock opened at $3.34 on Friday. The stock has a market capitalization of $306.56 million, a PE ratio of -9.03 and a beta of 1.33. The company has a fifty day moving average of $3.51 and a 200-day moving average of $2.88. Rimini Street, Inc. has a one year low of $1.53 and a one year high of $4.15.

Rimini Street (NASDAQ:RMNI) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $102.57 million. Equities analysts forecast that Rimini Street, Inc. will post 0.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners upgraded Rimini Street from a “neutral” rating to a “buy” rating in a research note on Friday, February 28th.

Insider Transactions at Rimini Street

In related news, CEO Seth A. Ravin sold 61,292 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $3.28, for a total value of $201,037.76. Following the sale, the chief executive officer now owns 652,696 shares in the company, valued at $2,140,842.88. This represents a 8.58 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Michael L. Perica sold 28,319 shares of the firm’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $3.28, for a total value of $92,886.32. Following the completion of the transaction, the chief financial officer now directly owns 237,361 shares of the company’s stock, valued at $778,544.08. The trade was a 10.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 139,507 shares of company stock valued at $464,582 in the last ninety days. 41.00% of the stock is currently owned by company insiders.

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.