Mackenzie Financial Corp Buys 123,984 Shares of Rimini Street, Inc. (NASDAQ:RMNI)

Mackenzie Financial Corp increased its position in Rimini Street, Inc. (NASDAQ:RMNI - Free Report) by 432.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 152,660 shares of the company's stock after acquiring an additional 123,984 shares during the quarter. Mackenzie Financial Corp owned about 0.17% of Rimini Street worth $408,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brooktree Capital Management grew its position in shares of Rimini Street by 10.3% in the fourth quarter. Brooktree Capital Management now owns 3,871,041 shares of the company's stock valued at $10,336,000 after purchasing an additional 361,380 shares during the last quarter. Pacific Ridge Capital Partners LLC grew its holdings in Rimini Street by 33.8% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 1,545,671 shares of the company's stock valued at $4,127,000 after buying an additional 390,131 shares during the last quarter. Geode Capital Management LLC grew its holdings in Rimini Street by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 1,221,314 shares of the company's stock valued at $3,261,000 after buying an additional 8,211 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. increased its position in Rimini Street by 28.9% in the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 667,673 shares of the company's stock worth $1,783,000 after buying an additional 149,659 shares during the period. Finally, Bridgeway Capital Management LLC lifted its holdings in shares of Rimini Street by 7.9% during the fourth quarter. Bridgeway Capital Management LLC now owns 545,100 shares of the company's stock worth $1,455,000 after buying an additional 40,000 shares during the last quarter. Institutional investors and hedge funds own 73.75% of the company's stock.

Analysts Set New Price Targets

Separately, Alliance Global Partners upgraded shares of Rimini Street from a "neutral" rating to a "buy" rating in a research note on Friday, February 28th.

Rimini Street Stock Performance

Shares of NASDAQ:RMNI traded down $0.02 on Friday, hitting $3.16. 442,244 shares of the company were exchanged, compared to its average volume of 289,154. The company's 50 day moving average price is $3.32 and its two-hundred day moving average price is $3.06. The firm has a market capitalization of $290.04 million, a price-to-earnings ratio of -8.55 and a beta of 1.33. Rimini Street, Inc. has a one year low of $1.53 and a one year high of $4.15.

Insider Buying and Selling

In other news, EVP Steven Hershkowitz sold 24,974 shares of the firm's stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $3.47, for a total transaction of $86,659.78. Following the completion of the transaction, the executive vice president now directly owns 75,025 shares of the company's stock, valued at approximately $260,336.75. This trade represents a 24.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Seth A. Ravin sold 61,292 shares of Rimini Street stock in a transaction dated Tuesday, May 6th. The shares were 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 in the company, valued at approximately $2,140,842.88. This trade represents a 8.58% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 128,325 shares of company stock valued at $425,651 over the last three months. 41.20% of the stock is owned by corporate insiders.

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.