Brooktree Capital Management Increases Position in Rimini Street, Inc. (NASDAQ:RMNI)

Brooktree Capital Management raised its stake in Rimini Street, Inc. (NASDAQ:RMNI) by 10.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,871,041 shares of the company’s stock after buying an additional 361,380 shares during the period. Rimini Street makes up about 7.7% of Brooktree Capital Management’s investment portfolio, making the stock its 3rd largest holding. Brooktree Capital Management owned approximately 4.26% of Rimini Street worth $10,336,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Virtu Financial LLC bought a new position in shares of Rimini Street in the third quarter valued at $58,000. SG Americas Securities LLC increased its holdings 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 buying an additional 4,238 shares in the last quarter. Ruane Cunniff & Goldfarb L.P. increased its holdings in shares of Rimini Street by 34.3% in the third quarter. Ruane Cunniff & Goldfarb L.P. now owns 38,090 shares of the company’s stock valued at $70,000 after buying an additional 9,719 shares in the last quarter. Barclays PLC raised its stake in Rimini Street by 281.6% during the 3rd quarter. Barclays PLC now owns 70,291 shares of the company’s stock valued at $130,000 after purchasing an additional 51,870 shares during the period. Finally, Banque Cantonale Vaudoise raised its stake in Rimini Street by 165.0% during the 3rd quarter. Banque Cantonale Vaudoise now owns 75,367 shares of the company’s stock valued at $139,000 after purchasing an additional 46,928 shares during the period. Institutional investors own 73.75% of the company’s stock.

Rimini Street Stock Up 1.0 %

Shares of NASDAQ:RMNI opened at $4.07 on Tuesday. The company’s fifty day moving average is $3.15 and its two-hundred day moving average is $2.42. Rimini Street, Inc. has a 12-month low of $1.53 and a 12-month high of $4.15. The company has a market cap of $371.57 million, a P/E ratio of -11.00 and a beta of 1.29.

Rimini Street (NASDAQ:RMNI) last posted its quarterly earnings results on Thursday, February 27th. The company reported $0.09 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 company had revenue of $114.21 million for the quarter, compared to analysts’ expectations of $102.57 million. Equities research analysts anticipate that Rimini Street, Inc. will post 0.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RMNI. Craig Hallum raised shares of Rimini Street from a “hold” rating to a “buy” rating and boosted their target price for the company from $2.00 to $6.00 in a research note on Tuesday, December 17th. Alliance Global Partners raised shares of 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.