Rimini Street, Inc. (NASDAQ:RMNI) Stake Trimmed by GSA Capital Partners LLP

GSA Capital Partners LLP lowered its stake in Rimini Street, Inc. (NASDAQ:RMNI) by 23.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 139,213 shares of the company’s stock after selling 43,762 shares during the quarter. GSA Capital Partners LLP’s holdings in Rimini Street were worth $258,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. SG Americas Securities LLC boosted its position in Rimini Street by 60.7% during the 3rd quarter. SG Americas Securities LLC now owns 18,289 shares of the company’s stock worth $34,000 after acquiring an additional 6,905 shares during the period. Dimensional Fund Advisors LP boosted its position in Rimini Street by 3.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 806,670 shares of the company’s stock worth $2,477,000 after acquiring an additional 26,694 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Rimini Street by 3.5% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 301,607 shares of the company’s stock worth $926,000 after acquiring an additional 10,105 shares during the period. Diamond Hill Capital Management Inc. boosted its position in Rimini Street by 2.3% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 2,007,515 shares of the company’s stock worth $6,163,000 after acquiring an additional 44,401 shares during the period. Finally, Acadian Asset Management LLC boosted its position in Rimini Street by 1.9% during the 2nd quarter. Acadian Asset Management LLC now owns 2,220,161 shares of the company’s stock worth $6,813,000 after acquiring an additional 41,139 shares during the period. Hedge funds and other institutional investors own 73.75% of the company’s stock.

Rimini Street Stock Performance

Shares of RMNI stock opened at $2.00 on Friday. The stock’s 50 day simple moving average is $1.85 and its 200 day simple moving average is $2.24. Rimini Street, Inc. has a twelve month low of $1.53 and a twelve month high of $3.44. The company has a market capitalization of $181.84 million, a price-to-earnings ratio of -5.41 and a beta of 1.29.

Rimini Street (NASDAQ:RMNI) last issued its quarterly 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 company had revenue of $104.67 million for the quarter, compared to the consensus estimate of $99.39 million. Rimini Street had a negative return on equity of 83.26% and a negative net margin of 7.87%. On average, analysts forecast that Rimini Street, Inc. will post 0.37 EPS for the current fiscal year.

Analyst Ratings Changes

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

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.