Los Angeles Capital Management LLC Cuts Stake in Rimini Street, Inc. (NASDAQ:RMNI)

Los Angeles Capital Management LLC lowered its holdings in shares of Rimini Street, Inc. (NASDAQ:RMNI) by 19.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 257,119 shares of the company’s stock after selling 63,963 shares during the period. Los Angeles Capital Management LLC’s holdings in Rimini Street were worth $476,000 as of its most recent filing with the SEC.

Several other hedge funds have also added to or reduced their stakes in the business. SG Americas Securities LLC increased its holdings in shares of Rimini Street by 60.7% in the third quarter. SG Americas Securities LLC now owns 18,289 shares of the company’s stock worth $34,000 after buying an additional 6,905 shares during the period. Dimensional Fund Advisors LP lifted its position in Rimini Street by 3.4% in the second quarter. Dimensional Fund Advisors LP now owns 806,670 shares of the company’s stock valued at $2,477,000 after purchasing an additional 26,694 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Rimini Street by 3.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 301,607 shares of the company’s stock valued at $926,000 after purchasing an additional 10,105 shares during the period. Diamond Hill Capital Management Inc. grew its holdings in shares of Rimini Street by 2.3% in the second quarter. Diamond Hill Capital Management Inc. now owns 2,007,515 shares of the company’s stock worth $6,163,000 after purchasing an additional 44,401 shares during the last quarter. Finally, Acadian Asset Management LLC increased its stake in shares of Rimini Street by 1.9% in the second quarter. Acadian Asset Management LLC now owns 2,220,161 shares of the company’s stock worth $6,813,000 after buying an additional 41,139 shares during the period. 73.75% of the stock is owned by institutional investors.

Rimini Street Price Performance

NASDAQ RMNI opened at $1.91 on Friday. Rimini Street, Inc. has a 1 year low of $1.53 and a 1 year high of $3.44. The stock has a market capitalization of $173.66 million, a PE ratio of -5.16 and a beta of 1.29. The business’s 50-day moving average is $1.84 and its 200 day moving average is $2.26.

Rimini Street (NASDAQ:RMNI) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.20 earnings per share for the quarter, topping 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 analyst estimates of $99.39 million. As a group, equities research analysts anticipate that Rimini Street, Inc. will post 0.37 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Alliance Global Partners cut shares of Rimini Street from a “buy” rating to a “neutral” rating in a research report on Wednesday, July 31st.

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.