Rimini Street (NASDAQ:RMNI – Free Report) had its target price lowered by Alliance Global Partners from $5.50 to $4.50 in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has a buy rating on the stock.
Rimini Street Trading Down 2.3 %
Shares of NASDAQ:RMNI traded down $0.06 on Friday, reaching $2.55. 521,404 shares of the company’s stock were exchanged, compared to its average volume of 257,385. The company has a fifty day moving average of $3.01 and a 200-day moving average of $3.03. Rimini Street has a twelve month low of $2.01 and a twelve month high of $5.32. The company has a market capitalization of $230.49 million, a price-to-earnings ratio of 10.63 and a beta of 1.27.
Rimini Street (NASDAQ:RMNI – Get Free Report) last announced its earnings results on Wednesday, February 28th. The company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06. Rimini Street had a net margin of 5.02% and a negative return on equity of 61.55%. The firm had revenue of $112.11 million for the quarter, compared to analyst estimates of $105.95 million. As a group, equities research analysts forecast that Rimini Street will post 0.35 EPS for the current fiscal year.
Insiders Place Their Bets
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Rimini Street during the first quarter worth about $62,000. Banque Cantonale Vaudoise acquired a new stake in Rimini Street during the 1st quarter worth approximately $88,000. Los Angeles Capital Management LLC grew its holdings in Rimini Street by 204.9% during the 1st quarter. Los Angeles Capital Management LLC now owns 203,343 shares of the company’s stock worth $663,000 after acquiring an additional 136,645 shares during the last quarter. Gerber LLC acquired a new position in Rimini Street in the 4th quarter valued at approximately $148,000. Finally, Tower Research Capital LLC TRC raised its stake in shares of Rimini Street by 78.9% during the fourth quarter. Tower Research Capital LLC TRC now owns 9,569 shares of the company’s stock valued at $31,000 after acquiring an additional 4,221 shares during the last quarter. 73.75% of the stock is currently owned by institutional investors and hedge funds.
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.
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