Banque Cantonale Vaudoise Takes Position in 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 bought a new position in shares of Rimini Street, Inc. (NASDAQ:RMNI - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 75,367 shares of the company's stock, valued at approximately $262,000. Banque Cantonale Vaudoise owned 0.08% of Rimini Street at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Financial Management Professionals Inc. acquired a new stake in Rimini Street in the 1st quarter valued at approximately $44,000. ProShare Advisors LLC grew its stake in shares of Rimini Street by 49.1% in the fourth quarter. ProShare Advisors LLC now owns 14,942 shares of the company's stock valued at $40,000 after buying an additional 4,918 shares in the last quarter. Squarepoint Ops LLC acquired a new position in Rimini Street during the 4th quarter worth about $40,000. Prudential Financial Inc. boosted its holdings in Rimini Street by 67.0% during the 4th quarter. Prudential Financial Inc. now owns 19,935 shares of the company's stock valued at $53,000 after acquiring an additional 8,000 shares during the period. Finally, Byrne Asset Management LLC boosted its holdings in Rimini Street by 94.7% during the 1st quarter. Byrne Asset Management LLC now owns 22,779 shares of the company's stock valued at $79,000 after acquiring an additional 11,079 shares during the period. Hedge funds and other institutional investors own 73.75% of the company's stock.

Rimini Street Stock Performance

Shares of NASDAQ:RMNI traded down $0.05 during trading hours on Monday, reaching $4.11. The stock had a trading volume of 604,714 shares, compared to its average volume of 563,661. Rimini Street, Inc. has a 1 year low of $1.53 and a 1 year high of $5.38. The firm's 50 day moving average is $3.95 and its 200-day moving average is $3.56. The stock has a market capitalization of $377.26 million, a price-to-earnings ratio of -102.72 and a beta of 1.34.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on RMNI shares. Roth Capital set a $6.50 price objective on shares of Rimini Street and gave the company a "buy" rating in a report on Thursday, July 10th. Wall Street Zen lowered Rimini Street from a "strong-buy" rating to a "buy" rating in a research report on Saturday.

Insider Buying and Selling at Rimini Street

In other news, CEO Seth A. Ravin sold 61,292 shares of the firm's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $3.28, for a total transaction of $201,037.76. Following the sale, the chief executive officer owned 652,696 shares of the company's stock, valued at approximately $2,140,842.88. This trade represents a 8.58% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael L. Perica sold 28,319 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $3.28, for a total transaction of $92,886.32. Following the completion of the transaction, the chief financial officer owned 237,361 shares in the company, valued at $778,544.08. This represents a 10.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 103,351 shares of company stock worth $338,991 in the last three months. 41.20% of the stock is currently owned by corporate insiders.

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.