Rimini Street, Inc. (NASDAQ:RMNI) Shares Bought by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. raised its stake in Rimini Street, Inc. (NASDAQ:RMNI) by 28.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 667,673 shares of the company’s stock after purchasing an additional 149,659 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in Rimini Street were worth $1,783,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently bought and sold shares of the company. Virtu Financial LLC acquired a new position in Rimini Street in the third quarter valued at $58,000. SG Americas Securities LLC boosted its stake in Rimini Street by 23.2% in the fourth quarter. SG Americas Securities LLC now owns 22,527 shares of the company’s stock valued at $60,000 after acquiring an additional 4,238 shares in the last quarter. Ruane Cunniff & Goldfarb L.P. boosted its stake in shares of Rimini Street by 34.3% during the third quarter. Ruane Cunniff & Goldfarb L.P. now owns 38,090 shares of the company’s stock worth $70,000 after buying an additional 9,719 shares during the period. Barclays PLC boosted its stake in shares of Rimini Street by 281.6% during the third quarter. Barclays PLC now owns 70,291 shares of the company’s stock worth $130,000 after buying an additional 51,870 shares during the period. Finally, Banque Cantonale Vaudoise boosted its stake in shares of Rimini Street by 165.0% during the third quarter. Banque Cantonale Vaudoise now owns 75,367 shares of the company’s stock worth $139,000 after buying an additional 46,928 shares during the period. Institutional investors and hedge funds own 73.75% of the company’s stock.

Rimini Street Trading Down 1.2 %

Shares of Rimini Street stock opened at $4.02 on Wednesday. Rimini Street, Inc. has a 12-month low of $1.53 and a 12-month high of $4.15. The stock has a market cap of $367.01 million, a PE ratio of -10.86 and a beta of 1.29. The company has a 50-day moving average of $3.18 and a two-hundred day moving average of $2.44.

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 analysts’ consensus estimates 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 company had revenue of $114.21 million during the quarter, compared to analysts’ expectations of $102.57 million. On average, sell-side analysts forecast that Rimini Street, Inc. will post 0.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

RMNI has been the subject of several recent research reports. Alliance Global Partners upgraded shares of Rimini Street from a “neutral” rating to a “buy” rating in a research note on Friday, February 28th. Craig Hallum raised shares of 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 report on Tuesday, December 17th.

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.