Rimini Street, Inc. (NASDAQ:RMNI) Shares Acquired by Two Sigma Investments LP

Two Sigma Investments LP lifted its holdings in shares of Rimini Street, Inc. (NASDAQ:RMNI) by 154.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 88,776 shares of the company’s stock after buying an additional 53,866 shares during the period. Two Sigma Investments LP’s holdings in Rimini Street were worth $237,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. SG Americas Securities LLC raised its position in shares of Rimini Street by 23.2% during the 4th quarter. SG Americas Securities LLC now owns 22,527 shares of the company’s stock worth $60,000 after acquiring an additional 4,238 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Rimini Street by 6.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 73,906 shares of the company’s stock worth $198,000 after acquiring an additional 4,477 shares in the last quarter. ProShare Advisors LLC raised its position in shares of Rimini Street by 49.1% during the 4th quarter. ProShare Advisors LLC now owns 14,942 shares of the company’s stock worth $40,000 after acquiring an additional 4,918 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Rimini Street by 7.9% during the 4th quarter. Ameriprise Financial Inc. now owns 82,772 shares of the company’s stock worth $221,000 after acquiring an additional 6,056 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Rimini Street by 27.7% during the 4th quarter. Wells Fargo & Company MN now owns 32,415 shares of the company’s stock worth $87,000 after acquiring an additional 7,023 shares in the last quarter. Institutional investors and hedge funds own 73.75% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners raised Rimini Street from a “neutral” rating to a “buy” rating in a research report on Friday, February 28th.

Rimini Street Stock Up 5.5%

RMNI opened at $3.43 on Thursday. The firm has a market cap of $314.82 million, a price-to-earnings ratio of -9.27 and a beta of 1.27. Rimini Street, Inc. has a 52 week low of $1.53 and a 52 week high of $4.15. The business’s 50 day moving average is $3.31 and its two-hundred day moving average is $3.09.

Insiders Place Their Bets

In other news, CEO Seth A. Ravin sold 61,292 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $3.28, for a total value of $201,037.76. Following the transaction, the chief executive officer now owns 652,696 shares of the company’s stock, valued at approximately $2,140,842.88. The trade was a 8.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Michael L. Perica sold 28,319 shares of the business’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $3.28, for a total value of $92,886.32. Following the completion of the transaction, the chief financial officer now directly owns 237,361 shares in the company, valued at approximately $778,544.08. The trade was a 10.66% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 128,325 shares of company stock valued at $425,651 over the last quarter. Company insiders own 41.20% of the company’s stock.

Rimini Street Company Profile

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.