JPMorgan Chase & Co. Boosts Stock Holdings in Rimini Street, Inc. (NASDAQ:RMNI)

JPMorgan Chase & Co. boosted its holdings in shares of Rimini Street, Inc. (NASDAQ:RMNI - Free Report) by 104.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 203,430 shares of the company's stock after acquiring an additional 103,828 shares during the period. JPMorgan Chase & Co. owned 0.22% of Rimini Street worth $543,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Brooktree Capital Management increased its holdings 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. Connor Clark & Lunn Investment Management Ltd. grew its holdings 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 valued at $1,783,000 after buying an additional 149,659 shares in the last quarter. Barclays PLC increased its stake in shares of Rimini Street by 281.6% in the 3rd quarter. Barclays PLC now owns 70,291 shares of the company's stock worth $130,000 after acquiring an additional 51,870 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Rimini Street by 20.0% during the 4th quarter. Bank of New York Mellon Corp now owns 278,619 shares of the company's stock worth $744,000 after acquiring an additional 46,511 shares during the period. Finally, Virtu Financial LLC acquired a new position in shares of Rimini Street during the 3rd quarter valued at about $58,000. Institutional investors and hedge funds own 73.75% of the company's stock.

Analysts Set New Price Targets

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.

Insider Transactions at Rimini Street

In related news, EVP Steven Hershkowitz sold 24,974 shares of the stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $3.47, for a total transaction of $86,659.78. Following the transaction, the executive vice president now owns 75,025 shares of the company's stock, valued at approximately $260,336.75. This 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 this hyperlink. Insiders sold a total of 52,215 shares of company stock worth $170,395 over the last ninety days. Company insiders own 41.00% of the company's stock.

Rimini Street Stock Performance

Shares of NASDAQ RMNI traded down $0.27 during mid-day trading on Friday, reaching $3.28. 436,882 shares of the company's stock were exchanged, compared to its average volume of 286,274. The firm has a market capitalization of $301.02 million, a price-to-earnings ratio of -8.86 and a beta of 1.33. Rimini Street, Inc. has a 52-week low of $1.53 and a 52-week high of $4.15. The company's 50-day moving average is $3.52 and its 200-day moving average is $2.82.

Rimini Street (NASDAQ:RMNI - Get Free Report) last released its quarterly 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 during the quarter, compared to analysts' expectations of $102.57 million. As a group, equities analysts predict that Rimini Street, Inc. will post 0.37 earnings per share for the current fiscal year.

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.