Boston Partners Purchases Shares of 253,755 Rimini Street, Inc. $RMNI

Boston Partners bought a new position in Rimini Street, Inc. (NASDAQ:RMNI - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund bought 253,755 shares of the company's stock, valued at approximately $883,000. Boston Partners owned about 0.28% of Rimini Street as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in RMNI. ProShare Advisors LLC increased its holdings in shares of Rimini Street by 49.1% in the 4th 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 last quarter. Squarepoint Ops LLC bought a new position in Rimini Street during the 4th quarter valued at about $40,000. Financial Management Professionals Inc. bought a new position in Rimini Street during the 1st quarter valued at about $44,000. Walleye Capital LLC bought a new position in Rimini Street during the 4th quarter valued at about $63,000. Finally, Occudo Quantitative Strategies LP bought a new position in Rimini Street during the 4th quarter valued at about $77,000. 73.75% of the stock is currently owned by institutional investors.

Insider Buying and Selling

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

Rimini Street Trading Up 1.0%

Shares of RMNI traded up $0.04 during mid-day trading on Thursday, hitting $4.16. The company's stock had a trading volume of 228,970 shares, compared to its average volume of 333,973. The company's 50-day moving average is $4.15 and its 200-day moving average is $3.65. Rimini Street, Inc. has a 52-week low of $1.53 and a 52-week high of $5.38. The firm has a market capitalization of $384.88 million, a price-to-earnings ratio of -103.97 and a beta of 1.34.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on RMNI shares. Roth Capital set a $6.50 price target on shares of Rimini Street and gave the company a "buy" rating in a report on Thursday, July 10th. Wall Street Zen downgraded shares of Rimini Street from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $6.25.

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.