Samjo Management LLC Makes New $696,000 Investment in Rimini Street, Inc. $RMNI

Key Points

• Samjo Management LLC has made a new investment of $696,000 in Rimini Street, acquiring 200,000 shares of the company's stock, which represents about 0.22% of Rimini Street.
• Insider transactions reveal that EVP Nancy Lyskawa sold 24,344 shares at an average price of $4.00, resulting in a 13.16% decrease in her ownership stake.
• Rimini Street currently has a consensus target price of $6.25, with several analysts giving it a "Buy" rating, reflecting a positive outlook for the stock.

Samjo Management LLC acquired a new position in shares of Rimini Street, Inc. (NASDAQ:RMNI - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 200,000 shares of the company's stock, valued at approximately $696,000. Samjo Management LLC owned 0.22% of Rimini Street as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD grew its holdings in Rimini Street by 6.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 73,906 shares of the company's stock worth $198,000 after purchasing an additional 4,477 shares during the period. 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 valued at $40,000 after buying an additional 4,918 shares during the period. Ameriprise Financial Inc. increased its position in Rimini Street by 7.9% in the 4th quarter. Ameriprise Financial Inc. now owns 82,772 shares of the company's stock valued at $221,000 after buying an additional 6,056 shares in the last quarter. Bard Associates Inc. increased its position in Rimini Street by 2.1% in the 1st quarter. Bard Associates Inc. now owns 292,648 shares of the company's stock valued at $1,018,000 after buying an additional 6,141 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in Rimini Street by 27.7% during the 4th quarter. Wells Fargo & Company MN now owns 32,415 shares of the company's stock worth $87,000 after buying an additional 7,023 shares during the period. Institutional investors and hedge funds own 73.75% of the company's stock.

Insider Transactions at Rimini Street

In other news, EVP Nancy Lyskawa sold 24,344 shares of the company'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 owned 160,609 shares in the company, valued at $642,436. This represents a 13.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have sold 26,056 shares of company stock worth $104,327. 41.20% of the stock is owned by insiders.

Analysts Set New Price Targets

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

Rimini Street Stock Up 1.7%

Shares of Rimini Street stock opened at $4.23 on Friday. The business has a 50 day moving average price of $4.18 and a 200-day moving average price of $3.67. Rimini Street, Inc. has a 52 week low of $1.53 and a 52 week high of $5.38. The company has a market cap of $391.36 million, a PE ratio of -105.72 and a beta of 1.34.

Rimini Street 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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