Rimini Street (NASDAQ:RMNI) Rating Lowered to Neutral at Alliance Global Partners

Alliance Global Partners cut shares of Rimini Street (NASDAQ:RMNI) from a buy rating to a neutral rating in a research note issued to investors on Wednesday, Marketbeat reports.

Rimini Street Stock Down 4.6 %

Rimini Street stock opened at $1.96 on Wednesday. The firm has a market cap of $177.32 million, a PE ratio of 8.15 and a beta of 1.29. Rimini Street has a 52-week low of $1.94 and a 52-week high of $3.43. The company’s 50 day moving average is $2.83 and its two-hundred day moving average is $2.93.

Rimini Street (NASDAQ:RMNI) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $0.04 EPS for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.05). Rimini Street had a net margin of 3.80% and a negative return on equity of 73.91%. The firm had revenue of $106.75 million during the quarter, compared to analysts’ expectations of $107.62 million. On average, equities research analysts anticipate that Rimini Street will post 0.29 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Rimini Street

A number of large investors have recently modified their holdings of the company. Bard Associates Inc. increased its position 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 valued at $1,015,000 after purchasing an additional 3,975 shares during the last quarter. Tower Research Capital LLC TRC increased its position in shares of Rimini Street by 78.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,569 shares of the company’s stock valued at $31,000 after purchasing an additional 4,221 shares during the last quarter. LSV Asset Management increased its position in shares of Rimini Street by 9.7% in the 4th quarter. LSV Asset Management now owns 58,016 shares of the company’s stock valued at $190,000 after purchasing an additional 5,116 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Rimini Street in the 1st quarter valued at approximately $33,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Rimini Street in the 2nd quarter valued at approximately $35,000. 73.75% of the stock is owned by hedge funds and other institutional investors.

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.