Rimini Street, Inc. (NASDAQ:RMNI) Shares Bought by Brooktree Capital Management

Brooktree Capital Management increased its holdings in Rimini Street, Inc. (NASDAQ:RMNI) by 14.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,509,661 shares of the company’s stock after purchasing an additional 445,984 shares during the period. Rimini Street accounts for 5.3% of Brooktree Capital Management’s investment portfolio, making the stock its 9th biggest position. Brooktree Capital Management owned about 3.86% of Rimini Street worth $6,493,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in RMNI. Quadrature Capital Ltd purchased a new stake in shares of Rimini Street during the 1st quarter valued at $33,000. SG Americas Securities LLC purchased a new stake in Rimini Street during the second quarter valued at about $35,000. Gladius Capital Management LP acquired a new stake in Rimini Street during the second quarter worth about $57,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Rimini Street in the 1st quarter worth about $62,000. Finally, Lee Danner & Bass Inc. acquired a new position in shares of Rimini Street in the 2nd quarter valued at about $61,000. 73.75% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Rimini Street Trading Up 0.5 %

Shares of RMNI stock opened at $1.96 on Thursday. The company has a market cap of $178.20 million, a PE ratio of -5.30 and a beta of 1.29. The company’s fifty day simple moving average is $1.83 and its 200-day simple moving average is $2.27. Rimini Street, Inc. has a 52 week low of $1.53 and a 52 week high of $3.44.

Rimini Street (NASDAQ:RMNI) last released its quarterly earnings data on Wednesday, October 30th. The company reported $0.20 EPS for the quarter, beating the consensus estimate of $0.05 by $0.15. The company had revenue of $104.67 million for the quarter, compared to analyst estimates of $99.39 million. Rimini Street had a negative return on equity of 83.26% and a negative net margin of 7.87%. Equities research analysts expect that Rimini Street, Inc. will post 0.37 EPS for the current fiscal 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.