173,579 Shares in Rimini Street, Inc. $RMNI Acquired by JB Capital Partners LP

JB Capital Partners LP acquired a new stake in shares of Rimini Street, Inc. (NASDAQ:RMNI) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 173,579 shares of the company’s stock, valued at approximately $739,447. JB Capital Partners LP owned about 0.19% of Rimini Street at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in RMNI. BlackRock Inc. purchased a new position in Rimini Street during the second quarter valued at $15,729,000. Pacific Ridge Capital Partners LLC grew its holdings in Rimini Street by 9.4% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 1,857,512 shares of the company’s stock worth $7,207,000 after acquiring an additional 159,673 shares in the last quarter. Mink Brook Asset Management LLC raised its holdings in Rimini Street by 73.4% during the fourth quarter. Mink Brook Asset Management LLC now owns 1,299,741 shares of the company’s stock worth $5,043,000 after purchasing an additional 550,167 shares in the last quarter. Geode Capital Management LLC grew its stake in Rimini Street by 1.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,234,075 shares of the company’s stock worth $4,653,000 after acquiring an additional 18,808 shares during the period. Finally, Samjo Management LLC raised its stake in shares of Rimini Street by 149.0% during the fourth quarter. Samjo Management LLC now owns 1,207,750 shares of the company’s stock valued at $4,686,000 after purchasing an additional 722,750 shares during the period. Hedge funds and other institutional investors own 73.75% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RMNI. Wall Street Zen upgraded shares of Rimini Street from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Alliance Global Partners restated a “buy” rating on shares of Rimini Street in a report on Friday, May 1st. Craig Hallum reissued a “buy” rating and issued a $8.00 target price on shares of Rimini Street in a research report on Friday, July 31st. TD Cowen boosted their price objective on shares of Rimini Street from $4.50 to $5.00 and gave the company a “hold” rating in a research report on Tuesday, July 28th. Finally, Weiss Ratings cut shares of Rimini Street from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, July 7th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $6.50.

Rimini Street Stock Up 4.8%

Shares of RMNI traded up $0.26 during mid-day trading on Friday, hitting $5.63. The company had a trading volume of 529,674 shares, compared to its average volume of 399,673. Rimini Street, Inc. has a 1-year low of $2.87 and a 1-year high of $5.63. The business’s 50-day simple moving average is $4.72 and its 200-day simple moving average is $3.97. The stock has a market cap of $525.62 million, a PE ratio of 70.38 and a beta of 1.23.

Rimini Street Profile

Rimini Street, Inc (NASDAQ: RMNI) is a provider of enterprise software support services, specializing in third-party maintenance for mission-critical applications from leading technology vendors. The company offers comprehensive support for ERP, CRM and database environments, with coverage for systems from providers such as Oracle and SAP. Through its proactive system monitoring, performance tuning, regulatory and tax update services, Rimini Street aims to extend the lifecycle of enterprise applications while delivering service levels comparable to or exceeding those of original software vendors.

Founded in 2005 by technology entrepreneur Seth Ravin, Rimini Street has grown from a startup into a publicly traded company following its initial public offering in March 2018.