Ruane Cunniff & Goldfarb L.P. Boosts Holdings in Rimini Street, Inc. (NASDAQ:RMNI)

Ruane Cunniff & Goldfarb L.P. increased its holdings in Rimini Street, Inc. (NASDAQ:RMNI) by 34.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,090 shares of the company’s stock after buying an additional 9,719 shares during the quarter. Ruane Cunniff & Goldfarb L.P.’s holdings in Rimini Street were worth $70,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Rimini Street by 2.0% in the first quarter. Vanguard Group Inc. now owns 4,522,843 shares of the company’s stock worth $14,744,000 after buying an additional 86,755 shares during the last quarter. Brooktree Capital Management lifted its holdings in Rimini Street by 14.6% during the third quarter. Brooktree Capital Management now owns 3,509,661 shares of the company’s stock valued at $6,493,000 after purchasing an additional 445,984 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in Rimini Street by 1.9% during the second quarter. Acadian Asset Management LLC now owns 2,220,161 shares of the company’s stock valued at $6,813,000 after purchasing an additional 41,139 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in Rimini Street by 2.3% during the second quarter. Diamond Hill Capital Management Inc. now owns 2,007,515 shares of the company’s stock valued at $6,163,000 after purchasing an additional 44,401 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Rimini Street by 3.4% during the second quarter. Dimensional Fund Advisors LP now owns 806,670 shares of the company’s stock valued at $2,477,000 after purchasing an additional 26,694 shares in the last quarter. Hedge funds and other institutional investors own 73.75% of the company’s stock.

Wall Street Analyst Weigh In

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

Rimini Street Price Performance

Rimini Street stock opened at $2.24 on Thursday. The stock has a market cap of $203.66 million, a P/E ratio of -6.05 and a beta of 1.29. Rimini Street, Inc. has a 1 year low of $1.53 and a 1 year high of $3.43. The firm’s 50 day moving average price is $1.87 and its 200-day moving average price is $2.23.

Rimini Street (NASDAQ:RMNI) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.15. The firm had revenue of $104.67 million for the quarter, compared to analysts’ expectations of $99.39 million. Rimini Street had a negative net margin of 7.87% and a negative return on equity of 83.26%. As a group, equities analysts expect that Rimini Street, Inc. will post 0.37 EPS for the current year.

Rimini Street 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.