Rimini Street, Inc. $RMNI Shares Purchased by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lifted its holdings in Rimini Street, Inc. (NASDAQ:RMNI) by 77.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 373,019 shares of the company’s stock after buying an additional 162,293 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Rimini Street were worth $1,222,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Pacific Ridge Capital Partners LLC lifted its holdings in shares of Rimini Street by 9.4% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 1,857,512 shares of the company’s stock valued at $7,207,000 after purchasing an additional 159,673 shares in the last quarter. Mink Brook Asset Management LLC lifted its position in Rimini Street by 73.4% during the 4th quarter. Mink Brook Asset Management LLC now owns 1,299,741 shares of the company’s stock worth $5,043,000 after acquiring an additional 550,167 shares in the last quarter. Geode Capital Management LLC boosted its position in Rimini Street by 1.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,234,075 shares of the company’s stock valued at $4,653,000 after buying an additional 18,808 shares during the last quarter. Samjo Management LLC increased its stake in shares of Rimini Street by 149.0% in the fourth quarter. Samjo Management LLC now owns 1,207,750 shares of the company’s stock worth $4,686,000 after buying an additional 722,750 shares during the last quarter. Finally, Manatuck Hill Partners LLC raised its holdings in Rimini Street by 5.7% in the fourth quarter. Manatuck Hill Partners LLC now owns 639,115 shares of the company’s stock valued at $2,480,000 after acquiring an additional 34,475 shares in the last quarter. Institutional investors and hedge funds own 73.75% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on RMNI shares. Alliance Global Partners restated a “buy” rating on shares of Rimini Street in a research note on Friday, May 1st. Wall Street Zen raised Rimini Street from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Weiss Ratings cut shares of Rimini Street from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, July 7th. TD Cowen boosted their price target on shares of Rimini Street from $4.50 to $5.00 and gave the company a “hold” rating in a report on Tuesday, July 28th. Finally, Zacks Research upgraded Rimini Street from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $5.00.

Rimini Street Price Performance

Shares of RMNI stock opened at $4.99 on Friday. Rimini Street, Inc. has a one year low of $2.87 and a one year high of $5.08. The stock has a market cap of $465.87 million, a P/E ratio of 62.38 and a beta of 1.23. The company has a fifty day moving average price of $4.54 and a two-hundred day moving average price of $3.86.

About Rimini Street

Rimini Street, Inc (NASDAQ: RMNI) is a provider of enterprise software support services, specializing in third-party maintenance for mission-critical applications from leading technology vendors. The company offers comprehensive support for ERP, CRM and database environments, with coverage for systems from providers such as Oracle and SAP. Through its proactive system monitoring, performance tuning, regulatory and tax update services, Rimini Street aims to extend the lifecycle of enterprise applications while delivering service levels comparable to or exceeding those of original software vendors.

Founded in 2005 by technology entrepreneur Seth Ravin, Rimini Street has grown from a startup into a publicly traded company following its initial public offering in March 2018.