Samjo Management LLC Invests $696,000 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 stake in shares of Rimini Street, Inc. (NASDAQ:RMNI - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 200,000 shares of the company's stock, valued at approximately $696,000. Samjo Management LLC owned approximately 0.22% of Rimini Street as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently made changes to their positions in RMNI. Millennium Management LLC purchased a new stake in shares of Rimini Street during the 4th quarter valued at $799,000. Boston Partners bought a new stake in Rimini Street in the 1st quarter worth $883,000. Informed Momentum Co LLC bought a new stake in Rimini Street in the 1st quarter worth $718,000. Nuveen LLC bought a new stake in Rimini Street in the 1st quarter worth $473,000. Finally, Mackenzie Financial Corp grew its holdings in Rimini Street by 432.4% in the 4th quarter. Mackenzie Financial Corp now owns 152,660 shares of the company's stock worth $408,000 after acquiring an additional 123,984 shares during the last quarter. Hedge funds and other institutional investors own 73.75% of the company's stock.

Insider Activity at Rimini Street

In other news, EVP Nancy Lyskawa sold 24,344 shares of the business'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 transaction, the executive vice president owned 160,609 shares of the company's stock, valued at approximately $642,436. The trade was a 13.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 26,056 shares of company stock valued at $104,327 over the last quarter. 41.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on RMNI shares. Roth Capital set a $6.50 target price on shares of Rimini Street and gave the company a "buy" rating in a research note on Thursday, July 10th. Wall Street Zen cut shares of 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, Based on data from MarketBeat.com, Rimini Street presently has a consensus rating of "Buy" and an average target price of $6.25.

Rimini Street Price Performance

Shares of RMNI stock traded up $0.10 during mid-day trading on Thursday, hitting $4.31. The company had a trading volume of 51,122 shares, compared to its average volume of 332,170. Rimini Street, Inc. has a 52-week low of $1.53 and a 52-week high of $5.38. The stock's 50 day moving average price is $4.24 and its 200-day moving average price is $3.69. The company has a market capitalization of $398.29 million, a P/E ratio of -107.60 and a beta of 1.34.

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.