Charles Schwab Investment Management Inc. lessened its stake in Rimini Street, Inc. (NASDAQ:RMNI - Free Report) by 59.4% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 185,786 shares of the company's stock after selling 271,395 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.20% of Rimini Street worth $647,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Pacific Ridge Capital Partners LLC increased its stake in shares of Rimini Street by 3.5% during the 1st quarter. Pacific Ridge Capital Partners LLC now owns 1,599,149 shares of the company's stock worth $5,565,000 after purchasing an additional 53,478 shares during the last quarter. XTX Topco Ltd acquired a new position in shares of Rimini Street during the 1st quarter worth $99,000. Banque Cantonale Vaudoise acquired a new position in shares of Rimini Street during the 1st quarter worth $262,000. Brooktree Capital Management increased its stake in shares of Rimini Street by 0.4% during the 1st quarter. Brooktree Capital Management now owns 3,886,453 shares of the company's stock worth $13,525,000 after purchasing an additional 15,412 shares during the last quarter. Finally, Cerity Partners LLC increased its stake in shares of Rimini Street by 13.8% during the 1st quarter. Cerity Partners LLC now owns 349,713 shares of the company's stock worth $1,217,000 after purchasing an additional 42,542 shares during the last quarter. Institutional investors and hedge funds own 73.75% of the company's stock.
Rimini Street Price Performance
NASDAQ:RMNI traded up $0.11 during midday trading on Friday, reaching $4.50. The stock had a trading volume of 260,218 shares, compared to its average volume of 293,583. Rimini Street, Inc. has a 1-year low of $1.53 and a 1-year high of $5.38. The firm's fifty day simple moving average is $4.36 and its 200-day simple moving average is $3.75. The stock has a market capitalization of $416.34 million, a P/E ratio of -112.47 and a beta of 1.47.
Wall Street Analyst Weigh In
Several research analysts have recently commented on RMNI shares. Roth Capital set a $6.50 price target on shares of Rimini Street and gave the stock a "buy" rating in a research note on Thursday, July 10th. Wall Street Zen lowered shares of Rimini Street from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus target price of $6.25.
Get Our Latest Research Report on Rimini Street
Insiders Place Their Bets
In related news, CFO Michael L. Perica sold 100,249 shares of the firm's stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $4.20, for a total value of $421,045.80. Following the transaction, the chief financial officer directly owned 146,032 shares in the company, valued at approximately $613,334.40. This trade represents a 40.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Nancy Lyskawa sold 24,344 shares of the firm's stock in a transaction 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 transaction, the executive vice president owned 160,609 shares in the company, valued at $642,436. The trade was a 13.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 226,554 shares of company stock worth $946,418 over the last quarter. 41.20% of the stock is currently owned by company insiders.
Rimini Street Profile
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Free Report)
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.
Further Reading
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