Connor Clark & Lunn Investment Management Ltd. Increases Position in Rimini Street, Inc. (NASDAQ:RMNI)

Connor Clark & Lunn Investment Management Ltd. raised its position in Rimini Street, Inc. (NASDAQ:RMNI) by 28.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 667,673 shares of the company’s stock after purchasing an additional 149,659 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.73% of Rimini Street worth $1,783,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Janus Henderson Group PLC purchased a new stake in Rimini Street in the third quarter valued at approximately $210,000. SG Americas Securities LLC increased its position in shares of Rimini Street by 23.2% during the fourth 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 during the period. Cerity Partners LLC increased its position in shares of Rimini Street by 80.2% during the third quarter. Cerity Partners LLC now owns 306,843 shares of the company’s stock worth $568,000 after acquiring an additional 136,609 shares during the period. State Street Corp increased its position in shares of Rimini Street by 0.8% during the third quarter. State Street Corp now owns 1,020,639 shares of the company’s stock worth $1,888,000 after acquiring an additional 8,377 shares during the period. Finally, Barclays PLC increased its position in shares of Rimini Street by 281.6% during the third quarter. Barclays PLC now owns 70,291 shares of the company’s stock worth $130,000 after acquiring an additional 51,870 shares during the period. Hedge funds and other institutional investors own 73.75% of the company’s stock.

Rimini Street Trading Down 1.2 %

Shares of RMNI stock opened at $4.02 on Wednesday. The firm has a fifty day moving average price of $3.18 and a 200 day moving average price of $2.44. The company has a market cap of $367.01 million, a P/E ratio of -10.86 and a beta of 1.29. Rimini Street, Inc. has a 12 month low of $1.53 and a 12 month high of $4.15.

Rimini Street (NASDAQ:RMNI) last issued its earnings results on Thursday, February 27th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). The firm had revenue of $114.21 million for the quarter, compared to analyst estimates of $102.57 million. Rimini Street had a negative return on equity of 83.26% and a negative net margin of 7.87%. On average, equities analysts forecast that Rimini Street, Inc. will post 0.37 EPS for the current year.

Analyst Upgrades and Downgrades

RMNI has been the topic of a number of recent research reports. Craig Hallum raised Rimini Street from a “hold” rating to a “buy” rating and upped their price objective for the stock from $2.00 to $6.00 in a research report on Tuesday, December 17th. Alliance Global Partners raised Rimini Street from a “neutral” rating to a “buy” rating in a research report on Friday, February 28th.

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.