Rimini Street, Inc. (NASDAQ:RMNI) Stock Holdings Boosted by BNP Paribas Financial Markets

BNP Paribas Financial Markets lifted its position in Rimini Street, Inc. (NASDAQ:RMNI) by 40.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 103,963 shares of the company’s stock after buying an additional 29,866 shares during the period. BNP Paribas Financial Markets’ holdings in Rimini Street were worth $192,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. SG Americas Securities LLC acquired a new stake in Rimini Street during the second quarter valued at approximately $35,000. Lee Danner & Bass Inc. acquired a new stake in shares of Rimini Street during the 2nd quarter valued at $61,000. Allspring Global Investments Holdings LLC lifted its position in shares of Rimini Street by 21,886.5% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 35,838 shares of the company’s stock valued at $110,000 after acquiring an additional 35,675 shares during the last quarter. Gladius Capital Management LP boosted its stake in shares of Rimini Street by 201.2% during the 3rd quarter. Gladius Capital Management LP now owns 56,018 shares of the company’s stock worth $104,000 after acquiring an additional 37,418 shares in the last quarter. Finally, Banque Cantonale Vaudoise grew its holdings 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 acquiring an additional 46,928 shares during the last quarter. Institutional investors and hedge funds own 73.75% of the company’s stock.

Analysts Set New Price Targets

Separately, Craig Hallum upgraded Rimini Street from a “hold” rating to a “buy” rating and increased their price target for the company from $2.00 to $6.00 in a research report on Tuesday.

Rimini Street Price Performance

RMNI stock opened at $2.72 on Wednesday. The firm has a market capitalization of $247.30 million, a P/E ratio of -7.35 and a beta of 1.34. Rimini Street, Inc. has a 52-week low of $1.53 and a 52-week high of $3.43. The company’s 50 day simple moving average is $1.94 and its 200-day simple moving average is $2.19.

Rimini Street (NASDAQ:RMNI) last issued its earnings results on Wednesday, October 30th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.05 by $0.15. The business had revenue of $104.67 million during the quarter, compared to analysts’ expectations of $99.39 million. Rimini Street had a negative return on equity of 83.26% and a negative net margin of 7.87%. Sell-side analysts predict that Rimini Street, Inc. will post 0.37 EPS for the current fiscal year.

Insider Buying and Selling at Rimini Street

In related news, CEO Seth A. Ravin sold 14,375 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $2.20, for a total value of $31,625.00. Following the completion of the sale, the chief executive officer now directly owns 444,914 shares in the company, valued at approximately $978,810.80. This represents a 3.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 41.00% of the company’s stock.

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.