Nuveen LLC Purchases Shares of 135,971 Rimini Street, Inc. $RMNI

Key Points

• Nuveen LLC has acquired a new stake in Rimini Street, purchasing 135,971 shares valued at approximately $473,000, while holding about 0.15% of the company as of the latest SEC filing.
• Insiders, including EVP Nancy Lyskawa and CFO Michael L. Perica, have sold significant portions of their shares, with total insider sales reaching $946,418 in the last 90 days.
• Analyst ratings for Rimini Street are generally positive, with a current average price target of $6.25 and several firms assigning a "buy" rating.

Nuveen LLC bought a new stake in Rimini Street, Inc. (NASDAQ:RMNI - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 135,971 shares of the company's stock, valued at approximately $473,000. Nuveen LLC owned about 0.15% of Rimini Street as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in RMNI. Millennium Management LLC acquired a new stake in Rimini Street in the fourth quarter valued at approximately $799,000. Mackenzie Financial Corp lifted its stake in Rimini Street by 432.4% in the fourth quarter. Mackenzie Financial Corp now owns 152,660 shares of the company's stock valued at $408,000 after acquiring an additional 123,984 shares during the last quarter. Brendel Financial Advisors LLC acquired a new stake in Rimini Street in the first quarter valued at approximately $278,000. Banque Cantonale Vaudoise acquired a new stake in Rimini Street in the first quarter valued at approximately $262,000. Finally, Two Sigma Investments LP lifted its stake in Rimini Street by 154.3% in the fourth quarter. Two Sigma Investments LP now owns 88,776 shares of the company's stock valued at $237,000 after acquiring an additional 53,866 shares during the last quarter. 73.75% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Nancy Lyskawa sold 24,344 shares of the business's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $4.00, for a total value of $97,376.00. Following the completion of the sale, the executive vice president directly owned 160,609 shares in the company, valued at approximately $642,436. The trade was a 13.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Michael L. Perica sold 100,249 shares of the business's stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $4.20, for a total transaction of $421,045.80. Following the transaction, the chief financial officer directly owned 146,032 shares in the company, valued at $613,334.40. This trade represents a 40.71% decrease in their position. The disclosure for this sale can be found here. Insiders sold 226,554 shares of company stock valued at $946,418 over the last 90 days. 41.20% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

Rimini Street Stock Performance

Shares of Rimini Street stock traded up $0.11 on Friday, reaching $4.50. The stock had a trading volume of 260,218 shares, compared to its average volume of 297,784. The business's 50-day moving average price is $4.36 and its two-hundred day moving average price is $3.75. Rimini Street, Inc. has a fifty-two week low of $1.53 and a fifty-two week high of $5.38. The stock has a market cap of $416.34 million, a P/E ratio of -112.47 and a beta of 1.46.

About Rimini Street

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.