Diamond Hill Capital Management Inc. Grows Stock Position in Rimini Street, Inc. (NASDAQ:RMNI)

Diamond Hill Capital Management Inc. lifted its stake in Rimini Street, Inc. (NASDAQ:RMNI) by 2.3% in the second quarter, HoldingsChannel reports. The firm owned 2,007,515 shares of the company’s stock after acquiring an additional 44,401 shares during the quarter. Diamond Hill Capital Management Inc.’s holdings in Rimini Street were worth $6,163,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quadrature Capital Ltd purchased a new position in Rimini Street in the first quarter valued at $33,000. SG Americas Securities LLC purchased a new position in Rimini Street in the second quarter valued at $35,000. Gladius Capital Management LP purchased a new position in Rimini Street in the second quarter valued at $57,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in Rimini Street in the first quarter valued at $62,000. Finally, Lee Danner & Bass Inc. purchased a new position in Rimini Street in the second quarter valued at $61,000. 73.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, Alliance Global Partners lowered Rimini Street from a “buy” rating to a “neutral” rating in a report on Wednesday, July 31st.

Rimini Street Price Performance

Shares of NASDAQ RMNI opened at $1.97 on Monday. The company has a market capitalization of $178.68 million, a price-to-earnings ratio of 8.21 and a beta of 1.28. The business has a 50-day moving average of $2.23 and a two-hundred day moving average of $2.63. Rimini Street, Inc. has a 1 year low of $1.55 and a 1 year high of $3.44.

Rimini Street (NASDAQ:RMNI) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.04 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.03). The business had revenue of $103.12 million for the quarter, compared to analysts’ expectations of $106.42 million. Rimini Street had a negative return on equity of 73.91% and a net margin of 3.80%. As a group, equities research analysts expect that Rimini Street, Inc. will post 0.22 earnings per share for the current year.

Rimini Street Company 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.