Rimini Street, Inc. (NASDAQ:RMNI) Shares Sold by Union Square Park Capital Management LLC

Union Square Park Capital Management LLC decreased its stake in shares of Rimini Street, Inc. (NASDAQ:RMNI - Free Report) by 45.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 728,236 shares of the company's stock after selling 613,318 shares during the period. Rimini Street makes up 1.3% of Union Square Park Capital Management LLC's portfolio, making the stock its 23rd biggest position. Union Square Park Capital Management LLC owned about 0.80% of Rimini Street worth $1,944,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of RMNI. Squarepoint Ops LLC acquired a new position in shares of Rimini Street in the 4th quarter worth approximately $40,000. Two Sigma Advisers LP grew its stake in shares of Rimini Street by 64.5% in the 4th quarter. Two Sigma Advisers LP now owns 63,500 shares of the company's stock worth $170,000 after purchasing an additional 24,900 shares during the last quarter. Two Sigma Investments LP grew its stake in shares of Rimini Street by 154.3% in the 4th quarter. Two Sigma Investments LP now owns 88,776 shares of the company's stock worth $237,000 after purchasing an additional 53,866 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of Rimini Street by 49.1% in the 4th quarter. ProShare Advisors LLC now owns 14,942 shares of the company's stock worth $40,000 after purchasing an additional 4,918 shares during the last quarter. Finally, Occudo Quantitative Strategies LP acquired a new position in shares of Rimini Street in the 4th quarter worth approximately $77,000. Institutional investors and hedge funds own 73.75% of the company's stock.

Insider Activity at Rimini Street

In other news, CEO Seth A. Ravin sold 61,292 shares of Rimini Street stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $3.28, for a total value of $201,037.76. Following the transaction, the chief executive officer now directly owns 652,696 shares in the company, valued at approximately $2,140,842.88. The trade was a 8.58% 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 business's stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $3.28, for a total value of $92,886.32. Following the transaction, the chief financial officer now directly owns 237,361 shares of the company's stock, valued at $778,544.08. This represents a 10.66% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 139,507 shares of company stock valued at $464,582. Insiders own 41.20% of the company's stock.

Rimini Street Stock Up 2.1%

RMNI stock opened at $3.41 on Tuesday. The company has a 50 day moving average of $3.46 and a two-hundred day moving average of $2.95. The company has a market cap of $312.99 million, a price-to-earnings ratio of -9.22 and a beta of 1.33. Rimini Street, Inc. has a 12-month low of $1.53 and a 12-month high of $4.15.

Rimini Street (NASDAQ:RMNI - Get Free Report) last issued its earnings results on Thursday, February 27th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.10 by ($0.01). Rimini Street had a negative net margin of 7.87% and a negative return on equity of 83.26%. The company had revenue of $114.21 million for the quarter, compared to analyst estimates of $102.57 million. On average, research analysts anticipate that Rimini Street, Inc. will post 0.37 EPS for the current year.

Analyst Upgrades and Downgrades

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 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.

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