Rimini Street, Inc. (NASDAQ:RMNI) Short Interest Update

Rimini Street, Inc. (NASDAQ:RMNI) was the recipient of a significant decrease in short interest in the month of December. As of December 31st, there was short interest totalling 950,800 shares, a decrease of 28.0% from the December 15th total of 1,320,000 shares. Approximately 2.0% of the shares of the stock are sold short. Based on an average trading volume of 367,800 shares, the short-interest ratio is currently 2.6 days.

Insider Buying and Selling

In related news, CEO Seth A. Ravin sold 14,375 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $2.20, for a total value of $31,625.00. Following the completion of the transaction, the chief executive officer now directly owns 444,914 shares of the company’s stock, valued at $978,810.80. This trade represents a 3.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 41.00% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RMNI. Brooktree Capital Management raised its position in shares of 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 buying an additional 445,984 shares during the last quarter. State Street Corp grew its stake in Rimini Street by 0.8% in the 3rd 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 during the period. Dimensional Fund Advisors LP raised its holdings in Rimini Street by 3.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 806,670 shares of the company’s stock valued at $2,477,000 after acquiring an additional 26,694 shares during the last quarter. Round Hill Asset Management lifted its stake in shares of Rimini Street by 54.1% during the 3rd quarter. Round Hill Asset Management now owns 348,306 shares of the company’s stock worth $644,000 after purchasing an additional 122,333 shares during the period. Finally, Bard Associates Inc. boosted its holdings in shares of Rimini Street by 7.7% during the third quarter. Bard Associates Inc. now owns 345,257 shares of the company’s stock worth $639,000 after purchasing an additional 24,757 shares during the last quarter. 73.75% of the stock is currently owned by hedge funds and other institutional investors.

Rimini Street Trading Down 0.4 %

Shares of RMNI stock traded down $0.01 during trading hours on Friday, hitting $2.82. The company’s stock had a trading volume of 210,568 shares, compared to its average volume of 298,870. Rimini Street has a twelve month low of $1.53 and a twelve month high of $3.43. The stock has a market cap of $256.39 million, a price-to-earnings ratio of -7.62 and a beta of 1.28. The business has a fifty day moving average of $2.34 and a 200-day moving average of $2.18.

Rimini Street (NASDAQ:RMNI) last announced its earnings results on Wednesday, October 30th. The company reported $0.20 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.15. Rimini Street had a negative return on equity of 83.26% and a negative net margin of 7.87%. The firm had revenue of $104.67 million for the quarter, compared to analysts’ expectations of $99.39 million. On average, equities analysts expect that Rimini Street will post 0.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Craig Hallum upgraded shares of Rimini Street from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $2.00 to $6.00 in a research report on Tuesday, December 17th.

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.