Round Hill Asset Management Has $1.05 Million Stock Holdings in Rimini Street, Inc. (NASDAQ:RMNI)

Round Hill Asset Management boosted its holdings in shares of Rimini Street, Inc. (NASDAQ:RMNI) by 13.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 394,263 shares of the company’s stock after purchasing an additional 45,957 shares during the quarter. Round Hill Asset Management’s holdings in Rimini Street were worth $1,053,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Prudential Financial Inc. grew its holdings in shares of Rimini Street by 67.0% during the 4th quarter. Prudential Financial Inc. now owns 19,935 shares of the company’s stock worth $53,000 after purchasing an additional 8,000 shares in the last quarter. SG Americas Securities LLC lifted its position in Rimini Street by 23.2% in the fourth quarter. SG Americas Securities LLC now owns 22,527 shares of the company’s stock worth $60,000 after purchasing an additional 4,238 shares during the period. Virtu Financial LLC acquired a new stake in Rimini Street during the third quarter worth $58,000. Wells Fargo & Company MN increased its holdings in Rimini Street by 27.7% in the 4th quarter. Wells Fargo & Company MN now owns 32,415 shares of the company’s stock valued at $87,000 after buying an additional 7,023 shares during the period. Finally, Barclays PLC raised its stake in shares of Rimini Street by 281.6% in the 3rd quarter. Barclays PLC now owns 70,291 shares of the company’s stock valued at $130,000 after buying an additional 51,870 shares in the last quarter. Institutional investors and hedge funds own 73.75% of the company’s stock.

Rimini Street Price Performance

Shares of Rimini Street stock opened at $3.23 on Monday. The firm has a 50 day simple moving average of $3.41 and a 200 day simple moving average of $2.61. Rimini Street, Inc. has a fifty-two week low of $1.53 and a fifty-two week high of $4.15. The firm has a market cap of $294.89 million, a P/E ratio of -8.73 and a beta of 1.31.

Rimini Street (NASDAQ:RMNI) last issued its earnings results on Thursday, February 27th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.01). Rimini Street had a negative net margin of 7.87% and a negative return on equity of 83.26%. The business had revenue of $114.21 million during the quarter, compared to the consensus estimate of $102.57 million. On average, sell-side analysts expect that Rimini Street, Inc. will post 0.37 EPS for the current year.

Analyst Upgrades and Downgrades

RMNI has been the subject of a number of analyst reports. Craig Hallum upgraded shares of Rimini Street from a “hold” rating to a “buy” rating and raised their price target for the stock from $2.00 to $6.00 in a research note on Tuesday, December 17th. Alliance Global Partners raised Rimini Street from a “neutral” rating to a “buy” rating in a research note on Friday, February 28th.

About Rimini Street

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.