Mackenzie Financial Corp Grows Holdings in Rimini Street, Inc. (NASDAQ:RMNI)

Mackenzie Financial Corp raised its holdings in Rimini Street, Inc. (NASDAQ:RMNI - Free Report) by 432.4% in the 4th quarter, according to the company in its most recent filing with the 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 approximately 0.17% of Rimini Street worth $408,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. ProShare Advisors LLC raised its stake in shares of Rimini Street by 49.1% during the fourth 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 last quarter. Squarepoint Ops LLC bought a new position in shares of Rimini Street during the fourth quarter valued at $40,000. Prudential Financial Inc. raised its stake in shares of Rimini Street by 67.0% during the fourth quarter. Prudential Financial Inc. now owns 19,935 shares of the company's stock valued at $53,000 after acquiring an additional 8,000 shares during the last quarter. SG Americas Securities LLC raised its stake 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 valued at $60,000 after acquiring an additional 4,238 shares during the last quarter. Finally, Walleye Capital LLC bought a new position in shares of Rimini Street during the fourth quarter valued at $63,000. Institutional investors own 73.75% of the company's stock.

Insiders Place Their Bets

In other Rimini Street news, EVP Steven Hershkowitz sold 24,974 shares of Rimini Street stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $3.47, for a total value of $86,659.78. Following the completion of the sale, the executive vice president now directly owns 75,025 shares of the company's stock, valued at approximately $260,336.75. The trade was a 24.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Michael L. Perica sold 28,319 shares of the stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $3.28, for a total transaction of $92,886.32. Following the transaction, the chief financial officer now directly owns 237,361 shares in the company, valued at $778,544.08. This trade represents a 10.66% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 128,325 shares of company stock worth $425,651. 41.20% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

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

Rimini Street Price Performance

NASDAQ RMNI traded down $0.01 during mid-day trading on Friday, reaching $3.17. 634,179 shares of the stock were exchanged, compared to its average volume of 290,169. Rimini Street, Inc. has a one year low of $1.53 and a one year high of $4.15. The stock has a 50 day simple moving average of $3.31 and a 200-day simple moving average of $3.08. The stock has a market cap of $290.96 million, a P/E ratio of -8.57 and a beta of 1.27.

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.