Bard Associates Inc. Sells 58,750 Shares of Rimini Street, Inc. (NASDAQ:RMNI)

Bard Associates Inc. lowered its position in Rimini Street, Inc. (NASDAQ:RMNI) by 17.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 286,507 shares of the company’s stock after selling 58,750 shares during the quarter. Bard Associates Inc.’s holdings in Rimini Street were worth $765,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its holdings in shares of Rimini Street by 2.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 457,181 shares of the company’s stock worth $1,221,000 after purchasing an additional 12,300 shares during the period. Los Angeles Capital Management LLC increased its holdings in shares of Rimini Street by 7.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 276,025 shares of the company’s stock worth $737,000 after purchasing an additional 18,906 shares during the period. Bank of New York Mellon Corp increased its holdings in shares of Rimini Street by 20.0% in the fourth quarter. Bank of New York Mellon Corp now owns 278,619 shares of the company’s stock worth $744,000 after purchasing an additional 46,511 shares during the period. SG Americas Securities LLC increased its holdings in shares of Rimini Street by 23.2% in the fourth quarter. SG Americas Securities LLC now owns 22,527 shares of the company’s stock worth $60,000 after purchasing an additional 4,238 shares during the period. Finally, JPMorgan Chase & Co. increased its holdings in shares of Rimini Street by 38.0% in the third quarter. JPMorgan Chase & Co. now owns 99,602 shares of the company’s stock worth $184,000 after purchasing an additional 27,451 shares during the period. Institutional investors own 73.75% of the company’s stock.

Rimini Street Stock Up 4.5 %

RMNI opened at $3.71 on Tuesday. The stock has a market cap of $337.31 million, a PE ratio of -10.03 and a beta of 1.31. Rimini Street, Inc. has a 52 week low of $1.53 and a 52 week high of $3.80. The business’s fifty day simple moving average is $2.91 and its 200 day simple moving average is $2.27.

Rimini Street (NASDAQ:RMNI) last released 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 during the quarter, compared to the consensus estimate of $102.57 million. Rimini Street had a negative net margin of 7.87% and a negative return on equity of 83.26%. As a group, equities analysts anticipate that Rimini Street, Inc. will post 0.37 earnings per share for the current year.

Insider Activity at Rimini Street

In other Rimini Street news, CEO Seth A. Ravin sold 14,375 shares of the company’s stock in a transaction dated 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 in the company, valued at $978,810.80. This represents a 3.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 33,867 shares of company stock valued at $83,982 over the last 90 days. 41.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Craig Hallum raised shares of Rimini Street from a “hold” rating to a “buy” rating and upped their price target for the stock from $2.00 to $6.00 in a report on Tuesday, December 17th. Alliance Global Partners raised Rimini Street from a “neutral” rating to a “buy” rating in a research note on Friday.

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.