Gerber LLC Trims Stock Holdings in Rimini Street, Inc. (NASDAQ:RMNI)

Gerber LLC reduced its position in shares of Rimini Street, Inc. (NASDAQ:RMNI) by 19.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,745 shares of the company’s stock after selling 7,315 shares during the period. Gerber LLC’s holdings in Rimini Street were worth $82,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in RMNI. Virtu Financial LLC bought a new position in shares of Rimini Street during the third quarter valued at about $58,000. SG Americas Securities LLC grew its holdings in shares of Rimini Street by 23.2% during the fourth quarter. SG Americas Securities LLC now owns 22,527 shares of the company’s stock valued at $60,000 after buying an additional 4,238 shares during the last quarter. Ruane Cunniff & Goldfarb L.P. lifted its position in Rimini Street by 34.3% during the third quarter. Ruane Cunniff & Goldfarb L.P. now owns 38,090 shares of the company’s stock valued at $70,000 after purchasing an additional 9,719 shares during the period. Gladius Capital Management LP raised its position in Rimini Street by 201.2% in the third 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 during the period. Finally, Barclays PLC raised its position in Rimini Street by 281.6% in the third quarter. Barclays PLC now owns 70,291 shares of the company’s stock worth $130,000 after acquiring an additional 51,870 shares during the period. 73.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RMNI. Craig Hallum raised shares of Rimini Street from a “hold” rating to a “buy” rating and raised their target price for the company from $2.00 to $6.00 in a research note on Tuesday, December 17th. Alliance Global Partners raised shares of Rimini Street from a “neutral” rating to a “buy” rating in a research note on Friday, February 28th.

Insiders Place Their Bets

In other news, CEO Seth A. Ravin sold 14,375 shares of the stock in a transaction that occurred on Friday, December 13th. The shares were sold at an average price of $2.20, for a total transaction of $31,625.00. Following the transaction, the chief executive officer now directly owns 444,914 shares in the company, valued at approximately $978,810.80. This trade represents a 3.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold 45,049 shares of company stock worth $122,913 in the last three months. Corporate insiders own 41.00% of the company’s stock.

Rimini Street Stock Up 0.5 %

Shares of NASDAQ:RMNI opened at $4.04 on Thursday. Rimini Street, Inc. has a 52 week low of $1.53 and a 52 week high of $4.07. The stock has a market capitalization of $368.84 million, a P/E ratio of -10.92 and a beta of 1.29. The firm has a fifty day simple moving average of $3.05 and a two-hundred day simple moving average of $2.36.

Rimini Street (NASDAQ:RMNI) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). Rimini Street had a negative return on equity of 83.26% and a negative net margin of 7.87%. The firm had revenue of $114.21 million during the quarter, compared to analysts’ expectations of $102.57 million. On average, analysts expect that Rimini Street, Inc. will post 0.37 earnings per share 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.