Rimini Street, Inc. $RMNI Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. decreased its stake in shares of Rimini Street, Inc. (NASDAQ:RMNI - Free Report) by 59.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 185,786 shares of the company's stock after selling 271,395 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.20% of Rimini Street worth $647,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of RMNI. Millennium Management LLC acquired a new stake in shares of Rimini Street in the fourth quarter worth $799,000. Mackenzie Financial Corp increased its stake in shares of Rimini Street by 432.4% in the fourth quarter. Mackenzie Financial Corp now owns 152,660 shares of the company's stock worth $408,000 after acquiring an additional 123,984 shares during the period. Brendel Financial Advisors LLC acquired a new stake in shares of Rimini Street in the first quarter worth $278,000. Banque Cantonale Vaudoise acquired a new stake in shares of Rimini Street in the first quarter worth $262,000. Finally, Two Sigma Investments LP increased its stake in shares of Rimini Street by 154.3% in the fourth quarter. Two Sigma Investments LP now owns 88,776 shares of the company's stock worth $237,000 after acquiring an additional 53,866 shares during the period. Institutional investors and hedge funds own 73.75% of the company's stock.

Analyst Upgrades and Downgrades

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

Rimini Street Trading Up 2.5%

RMNI traded up $0.11 during midday trading on Friday, hitting $4.50. 260,218 shares of the company traded hands, compared to its average volume of 297,784. The company has a market capitalization of $416.34 million, a price-to-earnings ratio of -112.47 and a beta of 1.46. Rimini Street, Inc. has a 52-week low of $1.53 and a 52-week high of $5.38. The business has a 50 day simple moving average of $4.36 and a two-hundred day simple moving average of $3.75.

Insider Buying and Selling at Rimini Street

In other news, CFO Michael L. Perica sold 100,249 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $4.20, for a total value of $421,045.80. Following the completion of the sale, the chief financial officer directly owned 146,032 shares in the company, valued at $613,334.40. This represents a 40.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Nancy Lyskawa sold 24,344 shares of the stock in a transaction dated 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 trade represents a 13.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 226,554 shares of company stock worth $946,418. Insiders own 41.20% of the company's stock.

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.