Bard Associates Inc. Sells 58,750 Shares of Rimini Street, Inc. (NASDAQ:RMNI)

Bard Associates Inc. reduced its stake in shares of Rimini Street, Inc. (NASDAQ:RMNI) by 17.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 286,507 shares of the company’s stock after selling 58,750 shares during the period. Bard Associates Inc. owned about 0.32% of Rimini Street worth $765,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RMNI. 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 in the last quarter. Gladius Capital Management LP boosted its stake in shares of 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 buying an additional 37,418 shares during the last quarter. Banque Cantonale Vaudoise boosted its stake in shares of Rimini Street by 165.0% in the 3rd quarter. Banque Cantonale Vaudoise now owns 75,367 shares of the company’s stock worth $139,000 after buying an additional 46,928 shares during the last quarter. Cerity Partners LLC boosted its stake in shares of Rimini Street by 80.2% in the 3rd quarter. Cerity Partners LLC now owns 306,843 shares of the company’s stock worth $568,000 after buying an additional 136,609 shares during the last quarter. Finally, Round Hill Asset Management boosted its stake in shares of Rimini Street by 54.1% in the 3rd quarter. Round Hill Asset Management now owns 348,306 shares of the company’s stock worth $644,000 after buying an additional 122,333 shares during the last quarter. 73.75% of the stock is owned by institutional investors.

Rimini Street Trading Up 4.5 %

Rimini Street stock opened at $3.71 on Tuesday. Rimini Street, Inc. has a 12 month low of $1.53 and a 12 month high of $3.80. The business’s 50 day simple moving average is $2.91 and its 200 day simple moving average is $2.27. The company has a market cap of $337.31 million, a price-to-earnings ratio of -10.03 and a beta of 1.31.

Rimini Street (NASDAQ:RMNI) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.09 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $102.57 million. As a group, equities research analysts forecast that Rimini Street, Inc. will post 0.37 earnings per share for the current fiscal year.

Insider Buying and Selling at Rimini Street

In other Rimini Street news, CEO Seth A. Ravin sold 14,375 shares of the business’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $2.20, for a total transaction of $31,625.00. Following the sale, the chief executive officer now owns 444,914 shares of the company’s stock, valued at $978,810.80. The trade was a 3.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold 33,867 shares of company stock valued at $83,982 in the last 90 days. 41.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on RMNI shares. Craig Hallum upgraded Rimini Street from a “hold” rating to a “buy” rating and boosted their target price for the stock from $2.00 to $6.00 in a research note on Tuesday, December 17th. Alliance Global Partners upgraded Rimini Street from a “neutral” rating to a “buy” rating in a research note 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.