Banque Cantonale Vaudoise Acquires Shares of 75,367 Rimini Street, Inc. (NASDAQ:RMNI)

Key Points

• Banque Cantonale Vaudoise acquired a new position in Rimini Street, Inc. by purchasing 75,367 shares, which are valued at approximately $262,000, representing about 0.08% ownership of the company.
• Several large investors increased their stakes in Rimini Street in recent months, with notable growth from ProShare Advisors LLC by 49.1% and Prudential Financial Inc. by 67.0% during the fourth quarter.
• Insider transactions were reported, including CFO Michael L. Perica and CEO Seth A. Ravin selling a combined total of 89,611 shares, reflecting a 10.66% and 8.58% decrease in their respective positions.

Banque Cantonale Vaudoise acquired a new stake in Rimini Street, Inc. (NASDAQ:RMNI - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 75,367 shares of the company's stock, valued at approximately $262,000. Banque Cantonale Vaudoise owned approximately 0.08% of Rimini Street at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Prudential Financial Inc. grew its holdings in shares of Rimini Street by 67.0% during the 4th quarter. Prudential Financial Inc. now owns 19,935 shares of the company's stock worth $53,000 after purchasing an additional 8,000 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of Rimini Street by 104.2% during the 4th quarter. JPMorgan Chase & Co. now owns 203,430 shares of the company's stock worth $543,000 after buying an additional 103,828 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of Rimini Street by 0.7% during the 4th quarter. Geode Capital Management LLC now owns 1,221,314 shares of the company's stock worth $3,261,000 after buying an additional 8,211 shares during the last quarter. Wells Fargo & Company MN lifted 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 buying an additional 7,023 shares during the last quarter. Finally, Round Hill Asset Management lifted its position in shares of Rimini Street by 13.2% during the 4th quarter. Round Hill Asset Management now owns 394,263 shares of the company's stock worth $1,053,000 after buying an additional 45,957 shares during the last quarter. 73.75% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Rimini Street Price Performance

Shares of Rimini Street stock remained flat at $4.02 during trading on Thursday. The stock had a trading volume of 216,319 shares, compared to its average volume of 332,390. The firm has a market cap of $371.93 million, a P/E ratio of -100.47 and a beta of 1.34. The firm's 50-day moving average price is $3.97 and its two-hundred day moving average price is $3.57. Rimini Street, Inc. has a 52-week low of $1.53 and a 52-week high of $5.38.

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.