Gerber LLC Has $82,000 Stock Position in Rimini Street, Inc. (NASDAQ:RMNI)

Gerber LLC lessened its position in shares of Rimini Street, Inc. (NASDAQ:RMNI) by 19.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,745 shares of the company’s stock after selling 7,315 shares during the quarter. Gerber LLC’s holdings in Rimini Street were worth $82,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Brooktree Capital Management grew its stake in Rimini Street by 14.6% in the third quarter. Brooktree Capital Management now owns 3,509,661 shares of the company’s stock valued at $6,493,000 after acquiring an additional 445,984 shares during the period. State Street Corp raised its holdings in Rimini Street by 0.8% during the third quarter. State Street Corp now owns 1,020,639 shares of the company’s stock worth $1,888,000 after acquiring an additional 8,377 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its stake in Rimini Street by 28.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 667,673 shares of the company’s stock valued at $1,783,000 after buying an additional 149,659 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Rimini Street by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 457,181 shares of the company’s stock valued at $1,221,000 after buying an additional 12,300 shares during the period. Finally, Round Hill Asset Management grew its position in shares of Rimini Street by 54.1% in the third quarter. Round Hill Asset Management now owns 348,306 shares of the company’s stock valued at $644,000 after purchasing an additional 122,333 shares during the last quarter. Institutional investors own 73.75% of the company’s stock.

Insider Buying and Selling at Rimini Street

In other Rimini Street news, CEO Seth A. Ravin sold 14,375 shares of Rimini Street stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $2.20, for a total transaction of $31,625.00. Following the completion of the transaction, the chief executive officer now owns 444,914 shares in the company, valued at approximately $978,810.80. The trade was a 3.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In the last quarter, insiders sold 45,049 shares of company stock worth $122,913. 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. The firm has a market cap of $368.84 million, a P/E ratio of -10.92 and a beta of 1.29. Rimini Street, Inc. has a 12-month low of $1.53 and a 12-month high of $4.07. The business has a fifty day simple moving average of $3.05 and a 200 day simple moving average of $2.36.

Rimini Street (NASDAQ:RMNI) last issued its quarterly earnings results 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). The business had revenue of $114.21 million for the quarter, compared to analyst estimates of $102.57 million. Rimini Street had a negative return on equity of 83.26% and a negative net margin of 7.87%. As a group, equities research analysts expect that Rimini Street, Inc. will post 0.37 EPS for the current year.

Wall Street Analyst Weigh In

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