Rimini Street (NASDAQ:RMNI) announced its quarterly earnings data on Thursday. The company reported $0.04 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.04, Morningstar.com reports. The business had revenue of $67.71 million during the quarter, compared to analysts’ expectations of $63.69 million. Rimini Street updated its Q1 2019 guidance to EPS and its FY 2019 guidance to EPS.
Shares of NASDAQ RMNI traded down $0.09 during trading on Friday, reaching $5.02. 30,917 shares of the company traded hands, compared to its average volume of 20,782. Rimini Street has a 52-week low of $4.00 and a 52-week high of $8.69.
A number of equities research analysts have recently issued reports on RMNI shares. Roth Capital started coverage on shares of Rimini Street in a research note on Wednesday, December 19th. They issued a “buy” rating and a $10.00 price objective for the company. Zacks Investment Research raised shares of Rimini Street from a “hold” rating to a “buy” rating and set a $5.75 price objective for the company in a research note on Thursday, November 29th.
Several institutional investors have recently added to or reduced their stakes in the company. Northern Trust Corp raised its position in shares of Rimini Street by 2.1% during the fourth quarter. Northern Trust Corp now owns 100,710 shares of the company’s stock valued at $519,000 after buying an additional 2,054 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Rimini Street by 3.8% in the fourth quarter. BlackRock Inc. now owns 468,431 shares of the company’s stock valued at $2,411,000 after purchasing an additional 17,343 shares in the last quarter. Rhumbline Advisers purchased a new position in shares of Rimini Street in the fourth quarter valued at $57,000. NJ State Employees Deferred Compensation Plan grew its holdings in shares of Rimini Street by 50.0% in the fourth quarter. NJ State Employees Deferred Compensation Plan now owns 21,000 shares of the company’s stock valued at $108,000 after purchasing an additional 7,000 shares in the last quarter. Finally, Vanguard Group Inc grew its holdings in shares of Rimini Street by 192.0% in the third quarter. Vanguard Group Inc now owns 603,813 shares of the company’s stock valued at $3,810,000 after purchasing an additional 397,057 shares in the last quarter. Hedge funds and other institutional investors own 43.35% of the company’s stock.
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Rimini Street Company Profile
Rimini Street, Inc provides enterprise software products and services for various industries. The company offers third-party support for Oracle and SAP software products. It sells its solutions primarily through direct sales organizations in North America, Latin America, Europe, Africa, the Middle East, Asia, and the Asia-Pacific.
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