Massachusetts Financial Services Co. MA Decreases Position in Rimini Street, Inc. (NASDAQ:RMNI)

Massachusetts Financial Services Co. MA decreased its stake in Rimini Street, Inc. (NASDAQ:RMNI) by 2.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 294,478 shares of the company’s stock after selling 7,129 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.32% of Rimini Street worth $545,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of RMNI. Brooktree Capital Management boosted its stake in Rimini Street by 14.6% during the third quarter. Brooktree Capital Management now owns 3,509,661 shares of the company’s stock worth $6,493,000 after buying an additional 445,984 shares during the period. Los Angeles Capital Management LLC grew its holdings in Rimini Street by 57.9% during the 2nd quarter. Los Angeles Capital Management LLC now owns 321,082 shares of the company’s stock valued at $986,000 after purchasing an additional 117,739 shares during the last quarter. Vanguard Group Inc. raised its position in Rimini Street by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 4,522,843 shares of the company’s stock worth $14,744,000 after purchasing an additional 86,755 shares during the period. Patriot Financial Group Insurance Agency LLC bought a new stake in Rimini Street in the second quarter worth about $258,000. Finally, Banque Cantonale Vaudoise boosted its position 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 valued at $139,000 after buying an additional 46,928 shares during the period. Institutional investors own 73.75% of the company’s stock.

Analysts Set New Price Targets

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

Rimini Street Trading Up 3.2 %

NASDAQ:RMNI opened at $2.24 on Thursday. The company has a market cap of $203.66 million, a price-to-earnings ratio of -6.05 and a beta of 1.29. Rimini Street, Inc. has a twelve month low of $1.53 and a twelve month high of $3.43. The stock has a fifty day simple moving average of $1.86 and a 200-day simple moving average of $2.23.

Rimini Street (NASDAQ:RMNI) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.05 by $0.15. The company had revenue of $104.67 million during the quarter, compared to analyst estimates of $99.39 million. Rimini Street had a negative net margin of 7.87% and a negative return on equity of 83.26%. As a group, equities research analysts predict that Rimini Street, Inc. will post 0.37 EPS for the current fiscal 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.