Informed Momentum Co LLC Makes New $718,000 Investment in Rimini Street, Inc. (NASDAQ:RMNI)

Key Points

• Informed Momentum Co LLC acquired 206,401 shares of Rimini Street, Inc. valued at approximately $718,000, representing a new position in the company.
• Insider transactions included EVP Nancy Lyskawa selling 24,344 shares, decreasing her ownership by 13.16% and leaving her with 160,609 shares valued at $642,436.
• Roth Capital set a target price of $6.50 for Rimini Street, maintaining a "buy" rating for the stock, while other analysts have adjusted their ratings from "strong-buy" to "buy".

Informed Momentum Co LLC bought a new position in Rimini Street, Inc. (NASDAQ:RMNI - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 206,401 shares of the company's stock, valued at approximately $718,000. Informed Momentum Co LLC owned 0.22% of Rimini Street at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Cerity Partners LLC raised its position in shares of Rimini Street by 13.8% in the 1st quarter. Cerity Partners LLC now owns 349,713 shares of the company's stock worth $1,217,000 after buying an additional 42,542 shares during the period. Mackenzie Financial Corp raised its position in shares of Rimini Street by 432.4% in the 4th quarter. Mackenzie Financial Corp now owns 152,660 shares of the company's stock worth $408,000 after buying an additional 123,984 shares during the period. Millennium Management LLC purchased a new position in shares of Rimini Street in the 4th quarter worth $799,000. Price T Rowe Associates Inc. MD raised its position in shares of Rimini Street by 6.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 73,906 shares of the company's stock worth $198,000 after buying an additional 4,477 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of Rimini Street by 24.5% in the 4th quarter. Renaissance Technologies LLC now owns 198,326 shares of the company's stock worth $530,000 after buying an additional 39,000 shares during the period. 73.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RMNI. Wall Street Zen downgraded Rimini Street from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 2nd. Roth Capital set a $6.50 price target on Rimini Street and gave the company a "buy" rating in a report on Thursday, July 10th.

Insider Buying and Selling

In related news, EVP Nancy Lyskawa sold 24,344 shares of Rimini Street stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $4.00, for a total value of $97,376.00. Following the completion of the transaction, the executive vice president directly owned 160,609 shares in the company, valued at approximately $642,436. This trade represents a 13.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 26,056 shares of company stock valued at $104,327 in the last three months. 41.20% of the stock is currently owned by company insiders.

Rimini Street Price Performance

NASDAQ:RMNI traded down $0.05 during mid-day trading on Friday, reaching $4.05. The stock had a trading volume of 513,512 shares, compared to its average volume of 389,987. The company has a market capitalization of $374.71 million, a price-to-earnings ratio of -101.22 and a beta of 1.34. Rimini Street, Inc. has a 1-year low of $1.53 and a 1-year high of $5.38. The stock's 50 day simple moving average is $4.10 and its two-hundred day simple moving average is $3.63.

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.