Rimini Street, Inc. $RMNI Shares Sold by Round Hill Asset Management

Round Hill Asset Management trimmed its stake in Rimini Street, Inc. (NASDAQ:RMNI) by 3.6% during the second quarter, Holdings Channel.com reports. The fund owned 368,363 shares of the company’s stock after selling 13,800 shares during the period. Round Hill Asset Management’s holdings in Rimini Street were worth $1,389,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Samjo Management LLC increased its holdings in Rimini Street by 142.5% in the 2nd quarter. Samjo Management LLC now owns 485,000 shares of the company’s stock valued at $1,828,000 after purchasing an additional 285,000 shares during the last quarter. Boston Partners purchased a new position in shares of Rimini Street during the first quarter worth $883,000. Informed Momentum Co LLC acquired a new stake in shares of Rimini Street in the first quarter valued at $718,000. Nuveen LLC purchased a new stake in shares of Rimini Street in the 1st quarter valued at $473,000. Finally, Strs Ohio purchased a new stake in shares of Rimini Street in the 1st quarter valued at $422,000. Hedge funds and other institutional investors own 73.75% of the company’s stock.

Rimini Street Trading Down 0.1%

Shares of RMNI opened at $3.83 on Monday. The firm has a market capitalization of $350.94 million, a price-to-earnings ratio of 8.32 and a beta of 1.19. The firm’s fifty day simple moving average is $4.28 and its 200-day simple moving average is $4.11. Rimini Street, Inc. has a twelve month low of $1.95 and a twelve month high of $5.38.

Insiders Place Their Bets

In other Rimini Street news, CFO Michael L. Perica sold 100,249 shares of Rimini Street stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $4.20, for a total transaction of $421,045.80. Following the completion of the sale, the chief financial officer directly owned 146,032 shares of the company’s stock, valued at $613,334.40. The trade was a 40.71% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders sold 207,817 shares of company stock valued at $874,091 in the last 90 days. 41.20% of the stock is owned by company insiders.

Analyst Ratings Changes

RMNI has been the subject of several research reports. Cowen reaffirmed a “hold” rating on shares of Rimini Street in a research report on Friday, October 31st. TD Cowen dropped their price objective on shares of Rimini Street from $6.00 to $5.00 and set a “hold” rating for the company in a report on Friday, October 31st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rimini Street in a report on Wednesday, November 19th. Finally, Wall Street Zen downgraded shares of Rimini Street from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $5.83.

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.