Acadian Asset Management LLC Acquires 41,139 Shares of Rimini Street, Inc. (NASDAQ:RMNI)

Acadian Asset Management LLC raised its stake in shares of Rimini Street, Inc. (NASDAQ:RMNI) by 1.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,220,161 shares of the company’s stock after buying an additional 41,139 shares during the period. Acadian Asset Management LLC’s holdings in Rimini Street were worth $6,813,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in Rimini Street by 2.0% during the first quarter. Vanguard Group Inc. now owns 4,522,843 shares of the company’s stock valued at $14,744,000 after acquiring an additional 86,755 shares during the period. Pacific Ridge Capital Partners LLC boosted its holdings in Rimini Street by 14.6% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 1,383,969 shares of the company’s stock valued at $4,526,000 after purchasing an additional 176,414 shares in the last quarter. LSV Asset Management grew its stake in shares of Rimini Street by 799.6% in the 1st quarter. LSV Asset Management now owns 521,900 shares of the company’s stock valued at $1,701,000 after purchasing an additional 463,884 shares during the period. Los Angeles Capital Management LLC raised its holdings in shares of Rimini Street by 57.9% in the 2nd quarter. Los Angeles Capital Management LLC now owns 321,082 shares of the company’s stock worth $986,000 after buying an additional 117,739 shares in the last quarter. Finally, Bard Associates Inc. raised its holdings in shares of Rimini Street by 1.3% in the 4th quarter. Bard Associates Inc. now owns 310,300 shares of the company’s stock worth $1,015,000 after buying an additional 3,975 shares in the last quarter. Institutional investors and hedge funds own 73.75% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Alliance Global Partners lowered Rimini Street from a “buy” rating to a “neutral” rating in a research note on Wednesday, July 31st.

Rimini Street Stock Performance

RMNI opened at $1.83 on Thursday. The firm has a market cap of $165.98 million, a price-to-earnings ratio of 7.63 and a beta of 1.28. The firm’s 50-day simple moving average is $2.28 and its 200-day simple moving average is $2.65. Rimini Street, Inc. has a twelve month low of $1.55 and a twelve month high of $3.44.

Rimini Street (NASDAQ:RMNI) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.04 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.03). Rimini Street had a negative return on equity of 73.91% and a net margin of 3.80%. The firm had revenue of $103.12 million for the quarter, compared to the consensus estimate of $106.42 million. As a group, sell-side analysts anticipate that Rimini Street, Inc. will post 0.22 EPS for the current fiscal year.

About Rimini Street

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.