Geode Capital Management LLC lessened its stake in shares of Rimini Street Inc (NASDAQ:RMNI) by 21.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 43,702 shares of the company’s stock after selling 12,255 shares during the period. Geode Capital Management LLC’s holdings in Rimini Street were worth $225,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RMNI. Rhumbline Advisers bought a new stake in Rimini Street during the fourth quarter worth about $57,000. NJ State Employees Deferred Compensation Plan raised its holdings in Rimini Street by 50.0% during the fourth quarter. NJ State Employees Deferred Compensation Plan now owns 21,000 shares of the company’s stock worth $108,000 after acquiring an additional 7,000 shares in the last quarter. Marshall Wace LLP bought a new stake in Rimini Street during the third quarter worth about $219,000. Renaissance Technologies LLC bought a new stake in Rimini Street during the third quarter worth about $268,000. Finally, Northern Trust Corp raised its holdings in Rimini Street by 2.1% during the fourth quarter. Northern Trust Corp now owns 100,710 shares of the company’s stock worth $519,000 after acquiring an additional 2,054 shares in the last quarter. Institutional investors and hedge funds own 42.21% of the company’s stock.

NASDAQ:RMNI opened at $4.84 on Thursday. The company has a market capitalization of $320.48 million and a price-to-earnings ratio of -15.13. Rimini Street Inc has a 12-month low of $4.00 and a 12-month high of $8.55.

Rimini Street (NASDAQ:RMNI) last released its quarterly earnings data on Thursday, March 14th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.04. The business had revenue of $67.71 million during the quarter, compared to the consensus estimate of $63.69 million. On average, equities research analysts forecast that Rimini Street Inc will post 0.16 EPS for the current fiscal year.

Separately, Zacks Investment Research upgraded Rimini Street from a “hold” rating to a “buy” rating and set a $6.00 price objective on the stock in a research note on Wednesday, March 20th.

In other Rimini Street news, President Sebastian Grady sold 21,144 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $5.18, for a total value of $109,525.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Nancy Lyskawa sold 17,810 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $6.00, for a total value of $106,860.00. The disclosure for this sale can be found here. Insiders sold 54,432 shares of company stock worth $297,113 in the last 90 days.

ILLEGAL ACTIVITY WARNING: This article was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this article on another domain, it was copied illegally and republished in violation of United States and international trademark and copyright law. The correct version of this article can be read at https://www.thecerbatgem.com/2019/05/16/geode-capital-management-llc-has-225000-position-in-rimini-street-inc-rmni.html.

About Rimini Street

Rimini Street, Inc provides enterprise software products and services for various industries. The company offers third-party support for Oracle and SAP software products. It sells its solutions primarily through direct sales organizations in North America, Latin America, Europe, Africa, the Middle East, Asia, and the Asia-Pacific.

Read More: Hedge Funds Explained

Want to see what other hedge funds are holding RMNI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rimini Street Inc (NASDAQ:RMNI).

Institutional Ownership by Quarter for Rimini Street (NASDAQ:RMNI)

Receive News & Ratings for Rimini Street Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rimini Street and related companies with MarketBeat.com's FREE daily email newsletter.