Rimini Street, Inc. (NASDAQ:RMNI) Stock Position Lifted by SG Americas Securities LLC

SG Americas Securities LLC boosted its stake in shares of Rimini Street, Inc. (NASDAQ:RMNI) by 23.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 22,527 shares of the company’s stock after acquiring an additional 4,238 shares during the period. SG Americas Securities LLC’s holdings in Rimini Street were worth $60,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. grew its position in Rimini Street by 38.0% during the third quarter. JPMorgan Chase & Co. now owns 99,602 shares of the company’s stock valued at $184,000 after purchasing an additional 27,451 shares in the last quarter. Virtu Financial LLC purchased a new position in Rimini Street during the third quarter valued at approximately $58,000. Barclays PLC grew its position in Rimini Street by 281.6% during the third quarter. Barclays PLC now owns 70,291 shares of the company’s stock valued at $130,000 after purchasing an additional 51,870 shares in the last quarter. State Street Corp grew 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 valued at $1,888,000 after purchasing an additional 8,377 shares in the last quarter. Finally, Janus Henderson Group PLC purchased a new position in Rimini Street during the third quarter valued at approximately $210,000. 73.75% of the stock is owned by hedge funds and other institutional investors.

Rimini Street Stock Up 14.2 %

RMNI stock opened at $3.38 on Friday. The company has a market capitalization of $307.31 million, a price-to-earnings ratio of -9.13 and a beta of 1.31. Rimini Street, Inc. has a 12 month low of $1.53 and a 12 month high of $3.43. The firm has a 50 day moving average of $2.66 and a two-hundred day moving average of $2.16.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In related news, CEO Seth A. Ravin sold 14,375 shares of the company’s stock in a transaction on Friday, December 13th. The shares were sold at an average price of $2.20, for a total transaction of $31,625.00. Following the completion of the sale, the chief executive officer now directly owns 444,914 shares of the company’s stock, valued at approximately $978,810.80. This represents a 3.13 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders sold 33,867 shares of company stock valued at $83,982. Company insiders own 41.00% of the company’s stock.

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.