206,401 Shares in Rimini Street, Inc. (NASDAQ:RMNI) Purchased by Informed Momentum Co LLC

Informed Momentum Co LLC acquired a new position in Rimini Street, Inc. (NASDAQ:RMNI) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 206,401 shares of the company’s stock, valued at approximately $718,000. Informed Momentum Co LLC owned 0.22% of Rimini Street as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Nuveen LLC acquired a new stake in Rimini Street in the first quarter worth about $473,000. Bard Associates Inc. increased its position in Rimini Street by 2.1% in the first quarter. Bard Associates Inc. now owns 292,648 shares of the company’s stock worth $1,018,000 after purchasing an additional 6,141 shares during the period. Pacific Ridge Capital Partners LLC increased its position in Rimini Street by 3.5% in the first quarter. Pacific Ridge Capital Partners LLC now owns 1,599,149 shares of the company’s stock worth $5,565,000 after purchasing an additional 53,478 shares during the period. XTX Topco Ltd acquired a new stake in Rimini Street in the first quarter worth about $99,000. Finally, Banque Cantonale Vaudoise acquired a new position in shares of Rimini Street during the 1st quarter worth about $262,000. 73.75% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Rimini Street

In other news, EVP Nancy Lyskawa sold 24,344 shares of Rimini Street stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $4.00, for a total transaction of $97,376.00. Following the transaction, the executive vice president owned 160,609 shares in the company, valued at $642,436. The trade was a 13.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In the last quarter, insiders sold 26,056 shares of company stock worth $104,327. Insiders own 41.20% of the company’s stock.

Rimini Street Trading Up 0.3%

Rimini Street stock opened at $4.00 on Wednesday. The firm has a market capitalization of $370.07 million, a P/E ratio of -99.98 and a beta of 1.34. Rimini Street, Inc. has a 1 year low of $1.53 and a 1 year high of $5.38. The business has a 50-day moving average of $4.05 and a 200-day moving average of $3.60.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Roth Capital set a $6.50 target price on Rimini Street and gave the stock a “buy” rating in a research report on Thursday, July 10th. Wall Street Zen lowered Rimini Street from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 2nd.

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.