Nuveen LLC Acquires 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 acquired a new stake in Rimini Street, Inc. (NASDAQ:RMNI - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 135,971 shares of the company's stock, valued at approximately $473,000. Nuveen LLC owned 0.15% of Rimini Street as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Financial Management Professionals Inc. purchased a new stake in Rimini Street in the first quarter valued at approximately $44,000. ProShare Advisors LLC lifted its stake in Rimini Street by 49.1% during the 4th quarter. ProShare Advisors LLC now owns 14,942 shares of the company's stock valued at $40,000 after acquiring an additional 4,918 shares during the period. Squarepoint Ops LLC purchased a new stake in shares of Rimini Street in the 4th quarter valued at $40,000. Byrne Asset Management LLC boosted its holdings in shares of Rimini Street by 94.7% in the 1st quarter. Byrne Asset Management LLC now owns 22,779 shares of the company's stock valued at $79,000 after acquiring an additional 11,079 shares during the last quarter. Finally, XTX Topco Ltd acquired a new stake in shares of Rimini Street in the first quarter worth $99,000. Institutional investors and hedge funds own 73.75% of the company's stock.

Insider Activity

In other Rimini Street news, CFO Michael L. Perica sold 100,249 shares of the firm's stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $4.20, for a total value of $421,045.80. Following the sale, the chief financial officer directly owned 146,032 shares of the company's stock, valued at approximately $613,334.40. This trade represents a 40.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nancy Lyskawa sold 24,344 shares of the business's stock in a transaction that occurred 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 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. In the last 90 days, insiders sold 226,554 shares of company stock valued at $946,418. 41.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

Rimini Street Trading Down 2.8%

RMNI traded down $0.13 on Wednesday, reaching $4.47. The stock had a trading volume of 232,609 shares, compared to its average volume of 296,267. The business's 50-day moving average price is $4.40 and its two-hundred day moving average price is $3.77. The company has a market cap of $413.56 million, a P/E ratio of -111.72 and a beta of 1.46. Rimini Street, Inc. has a 12-month low of $1.53 and a 12-month high of $5.38.

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.