Rimini Street, Inc. (NASDAQ:RMNI) Stock Position Decreased by Geode Capital Management LLC

Geode Capital Management LLC trimmed its stake in shares of Rimini Street, Inc. (NASDAQ:RMNI) by 1.2% during the third quarter, Holdings Channel reports. The firm owned 1,213,103 shares of the company’s stock after selling 14,263 shares during the period. Geode Capital Management LLC’s holdings in Rimini Street were worth $2,244,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. SG Americas Securities LLC grew its position in shares of Rimini Street by 60.7% during the third quarter. SG Americas Securities LLC now owns 18,289 shares of the company’s stock worth $34,000 after acquiring an additional 6,905 shares during the last quarter. Ruane Cunniff & Goldfarb L.P. boosted its stake in 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 period. Gladius Capital Management LP grew its position in Rimini Street by 201.2% in the 3rd quarter. Gladius Capital Management LP now owns 56,018 shares of the company’s stock worth $104,000 after purchasing an additional 37,418 shares during the last quarter. Barclays PLC grew its holdings in Rimini Street by 281.6% in the 3rd quarter. Barclays PLC now owns 70,291 shares of the company’s stock worth $130,000 after buying an additional 51,870 shares in the last quarter. Finally, Banque Cantonale Vaudoise increased its position in Rimini Street by 165.0% in the 3rd quarter. Banque Cantonale Vaudoise now owns 75,367 shares of the company’s stock valued at $139,000 after acquiring an additional 46,928 shares during the period. Institutional investors own 73.75% of the company’s stock.

Insider Activity

In other news, CEO Seth A. Ravin sold 14,375 shares of the stock in a transaction on Friday, December 13th. The stock was sold at an average price of $2.20, for a total transaction of $31,625.00. Following the completion of the sale, the chief executive officer now owns 444,914 shares in the company, valued at approximately $978,810.80. This represents a 3.13 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 41.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum upgraded Rimini Street from a “hold” rating to a “buy” rating and boosted their price target for the stock from $2.00 to $6.00 in a research report on Tuesday, December 17th.

Rimini Street Trading Down 6.6 %

Rimini Street stock opened at $2.56 on Wednesday. The company’s 50-day moving average price is $2.22 and its two-hundred day moving average price is $2.18. The stock has a market cap of $232.76 million, a price-to-earnings ratio of -6.92 and a beta of 1.28. Rimini Street, Inc. has a 52 week low of $1.53 and a 52 week high of $3.43.

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

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.