Informed Momentum Co LLC Buys Shares of 206,401 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 acquired a new stake in Rimini Street, Inc. (NASDAQ:RMNI - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 206,401 shares of the company's stock, valued at approximately $718,000. Informed Momentum Co LLC owned 0.22% of Rimini Street as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. ProShare Advisors LLC boosted its position in shares of Rimini Street by 49.1% during the fourth quarter. ProShare Advisors LLC now owns 14,942 shares of the company's stock worth $40,000 after buying an additional 4,918 shares during the period. Squarepoint Ops LLC purchased a new position in shares of Rimini Street during the fourth quarter worth $40,000. Financial Management Professionals Inc. purchased a new position in shares of Rimini Street during the first quarter worth $44,000. Walleye Capital LLC purchased a new position in Rimini Street in the fourth quarter valued at $63,000. Finally, Occudo Quantitative Strategies LP purchased a new position in Rimini Street in the fourth quarter valued at $77,000. Institutional investors and hedge funds own 73.75% of the company's stock.

Insider Activity

In related news, EVP Nancy Lyskawa sold 24,344 shares of Rimini Street stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $4.00, for a total value of $97,376.00. Following the transaction, the executive vice president owned 160,609 shares in the company, valued at $642,436. This trade represents a 13.16% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last three months, insiders have sold 26,056 shares of company stock worth $104,327. Company insiders own 41.20% of the company's stock.

Wall Street Analysts Forecast Growth

RMNI has been the topic of a number of research analyst reports. Wall Street Zen cut Rimini Street from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. Roth Capital set a $6.50 target price on Rimini Street and gave the stock a "buy" rating in a research report on Thursday, July 10th.

Rimini Street Trading Down 1.2%

RMNI traded down $0.05 on Friday, hitting $4.05. 513,512 shares of the company's stock were exchanged, compared to its average volume of 389,987. The stock has a fifty day moving average of $4.10 and a two-hundred day moving average of $3.62. Rimini Street, Inc. has a twelve month low of $1.53 and a twelve month high of $5.38. The firm has a market cap of $374.70 million, a PE ratio of -101.22 and a beta of 1.34.

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.