Rimini Street (NASDAQ:RMNI – Free Report) had its price objective reduced by Alliance Global Partners from $5.50 to $4.50 in a report released on Friday morning, Benzinga reports. They currently have a buy rating on the stock.
Rimini Street Stock Down 3.1 %
Shares of NASDAQ:RMNI opened at $2.47 on Friday. The business has a fifty day simple moving average of $3.00 and a 200-day simple moving average of $3.04. Rimini Street has a 52 week low of $2.01 and a 52 week high of $5.32. The company has a market cap of $223.31 million, a P/E ratio of 10.29 and a beta of 1.27.
Rimini Street (NASDAQ:RMNI – Get Free Report) last posted its quarterly earnings results on Wednesday, February 28th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06. Rimini Street had a negative return on equity of 66.46% and a net margin of 5.02%. The firm had revenue of $112.11 million during the quarter, compared to the consensus estimate of $105.95 million. Sell-side analysts expect that Rimini Street will post 0.35 earnings per share for the current fiscal year.
Insider Buying and Selling at Rimini Street
Institutional Investors Weigh In On Rimini Street
Several institutional investors and hedge funds have recently modified their holdings of the stock. Bard Associates Inc. boosted its position in shares of Rimini Street by 1.3% in the fourth quarter. Bard Associates Inc. now owns 310,300 shares of the company’s stock worth $1,015,000 after buying an additional 3,975 shares during the period. Tower Research Capital LLC TRC boosted its holdings in Rimini Street by 78.9% in the fourth 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 boosted its holdings in Rimini Street by 9.7% in the fourth 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. Ruane Cunniff & Goldfarb L.P. boosted its holdings in Rimini Street by 22.3% in the third quarter. Ruane Cunniff & Goldfarb L.P. now owns 29,442 shares of the company’s stock valued at $65,000 after purchasing an additional 5,369 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Rimini Street in the fourth quarter valued at about $39,000. Hedge funds and other institutional investors own 73.75% of the company’s stock.
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.
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