Diamond Hill Capital Management Inc. Has $814,000 Stock Position in Rimini Street, Inc. (NASDAQ:RMNI)

Diamond Hill Capital Management Inc. lowered its stake in Rimini Street, Inc. (NASDAQ:RMNI) by 83.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 304,826 shares of the company’s stock after selling 1,539,819 shares during the quarter. Diamond Hill Capital Management Inc.’s holdings in Rimini Street were worth $814,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. SG Americas Securities LLC increased its position in shares of 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 during the last quarter. State Street Corp increased its position 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 buying an additional 8,377 shares during the last quarter. Ruane Cunniff & Goldfarb L.P. increased its position in 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 last quarter. Charles Schwab Investment Management Inc. increased its position in Rimini Street by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 457,181 shares of the company’s stock worth $1,221,000 after buying an additional 12,300 shares during the last quarter. Finally, Los Angeles Capital Management LLC increased its position in Rimini Street by 7.4% during the fourth quarter. Los Angeles Capital Management LLC now owns 276,025 shares of the company’s stock worth $737,000 after buying an additional 18,906 shares during the last quarter. Institutional investors and hedge funds own 73.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RMNI. Alliance Global Partners raised Rimini Street from a “neutral” rating to a “buy” rating in a research report on Friday, February 28th. Craig Hallum raised Rimini Street from a “hold” rating to a “buy” rating and boosted their price target for the stock from $2.00 to $6.00 in a research report on Tuesday, December 17th.

Rimini Street Stock Up 4.4 %

Shares of NASDAQ:RMNI opened at $4.03 on Friday. Rimini Street, Inc. has a 12-month low of $1.53 and a 12-month high of $4.08. The stock has a market cap of $367.92 million, a PE ratio of -10.89 and a beta of 1.29. The business has a 50 day moving average of $3.10 and a 200-day moving average of $2.38.

Rimini Street (NASDAQ:RMNI) last issued its quarterly earnings data 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 return on equity of 83.26% and a negative net margin of 7.87%. The firm had revenue of $114.21 million for the quarter, compared to the consensus estimate of $102.57 million. Equities research analysts expect that Rimini Street, Inc. will post 0.37 earnings per share for the current year.

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.