Barclays PLC Purchases 51,870 Shares of Rimini Street, Inc. (NASDAQ:RMNI)

Barclays PLC increased its position in Rimini Street, Inc. (NASDAQ:RMNI) by 281.6% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 70,291 shares of the company’s stock after buying an additional 51,870 shares during the quarter. Barclays PLC’s holdings in Rimini Street were worth $130,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of RMNI. SG Americas Securities LLC boosted its holdings in Rimini Street by 60.7% in the 3rd quarter. SG Americas Securities LLC now owns 18,289 shares of the company’s stock worth $34,000 after buying an additional 6,905 shares during the period. Ruane Cunniff & Goldfarb L.P. boosted its holdings in shares of Rimini Street by 34.3% during the 3rd quarter. Ruane Cunniff & Goldfarb L.P. now owns 38,090 shares of the company’s stock valued at $70,000 after purchasing an additional 9,719 shares during the last quarter. Gladius Capital Management LP boosted its holdings in shares of Rimini Street by 201.2% during the 3rd quarter. Gladius Capital Management LP now owns 56,018 shares of the company’s stock valued at $104,000 after purchasing an additional 37,418 shares during the last quarter. Banque Cantonale Vaudoise boosted its holdings in shares of Rimini Street by 165.0% during the 3rd quarter. Banque Cantonale Vaudoise now owns 75,367 shares of the company’s stock valued at $139,000 after purchasing an additional 46,928 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its holdings in shares of Rimini Street by 40.3% during the 3rd quarter. BNP Paribas Financial Markets now owns 103,963 shares of the company’s stock valued at $192,000 after purchasing an additional 29,866 shares during the last quarter. Institutional investors own 73.75% of the company’s stock.

Rimini Street Trading Up 5.5 %

Shares of NASDAQ:RMNI opened at $2.70 on Thursday. Rimini Street, Inc. has a 12 month low of $1.53 and a 12 month high of $3.43. The company has a 50-day moving average price of $2.22 and a 200 day moving average price of $2.18. The company has a market cap of $245.48 million, a price-to-earnings ratio of -7.30 and a beta of 1.28.

Rimini Street (NASDAQ:RMNI) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.15. Rimini Street had a negative net margin of 7.87% and a negative return on equity of 83.26%. The firm had revenue of $104.67 million during the quarter, compared to the consensus estimate of $99.39 million. As a group, equities analysts forecast that Rimini Street, Inc. will post 0.37 EPS for the current year.

Analyst Ratings Changes

Separately, Craig Hallum raised shares of Rimini Street from a “hold” rating to a “buy” rating and increased their price objective for the company from $2.00 to $6.00 in a report on Tuesday, December 17th.

Insider Activity at Rimini Street

In other Rimini Street news, CEO Seth A. Ravin sold 14,375 shares of the firm’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $2.20, for a total value of $31,625.00. Following the completion of the sale, the chief executive officer now owns 444,914 shares of the company’s stock, valued at $978,810.80. This trade represents a 3.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 41.00% of the stock is owned by insiders.

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.