Millennium Management LLC Makes New $799,000 Investment in Rimini Street, Inc. (NASDAQ:RMNI)

Millennium Management LLC bought a new stake in shares of Rimini Street, Inc. (NASDAQ:RMNI - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 299,075 shares of the company's stock, valued at approximately $799,000. Millennium Management LLC owned 0.33% of Rimini Street at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of RMNI. SG Americas Securities LLC lifted its position in shares of Rimini Street by 23.2% during the fourth quarter. SG Americas Securities LLC now owns 22,527 shares of the company's stock worth $60,000 after purchasing an additional 4,238 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Rimini Street by 6.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 73,906 shares of the company's stock worth $198,000 after buying an additional 4,477 shares during the period. Ameriprise Financial Inc. lifted its holdings in Rimini Street by 7.9% during the 4th quarter. Ameriprise Financial Inc. now owns 82,772 shares of the company's stock worth $221,000 after buying an additional 6,056 shares in the last quarter. Wells Fargo & Company MN lifted its holdings in 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 in the last quarter. Finally, Prudential Financial Inc. boosted its position in Rimini Street by 67.0% in the 4th quarter. Prudential Financial Inc. now owns 19,935 shares of the company's stock valued at $53,000 after buying an additional 8,000 shares during the period. 73.75% of the stock is owned by institutional investors and hedge funds.

Rimini Street Stock Performance

RMNI stock traded up $0.10 during mid-day trading on Tuesday, reaching $3.25. The company had a trading volume of 249,436 shares, compared to its average volume of 290,307. The firm has a fifty day simple moving average of $3.30 and a 200 day simple moving average of $3.09. The company has a market capitalization of $298.30 million, a price-to-earnings ratio of -8.78 and a beta of 1.27. Rimini Street, Inc. has a fifty-two week low of $1.53 and a fifty-two week high of $4.15.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners raised Rimini Street from a "neutral" rating to a "buy" rating in a research report on Friday, February 28th.

Insiders Place Their Bets

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 now owns 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 firm's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $3.28, for a total transaction of $92,886.32. Following the sale, the chief financial officer now directly owns 237,361 shares in the company, valued at approximately $778,544.08. The trade was a 10.66% decrease in their position. The disclosure for this sale can be found here. Insiders sold 128,325 shares of company stock worth $425,651 in the last 90 days. Corporate insiders own 41.20% of the company's stock.

Rimini Street 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.