Bridgeway Capital Management LLC Boosts Stake in Rimini Street, Inc. (NASDAQ:RMNI)

Bridgeway Capital Management LLC raised its stake in shares of Rimini Street, Inc. (NASDAQ:RMNI) by 7.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 545,100 shares of the company’s stock after buying an additional 40,000 shares during the quarter. Bridgeway Capital Management LLC’s holdings in Rimini Street were worth $1,455,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of RMNI. SG Americas Securities LLC increased its position in Rimini Street by 23.2% during the 4th quarter. SG Americas Securities LLC now owns 22,527 shares of the company’s stock worth $60,000 after purchasing an additional 4,238 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Rimini Street by 6.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 73,906 shares of the company’s stock valued at $198,000 after buying an additional 4,477 shares during the last quarter. Ameriprise Financial Inc. lifted its stake in shares of Rimini Street by 7.9% during the fourth quarter. Ameriprise Financial Inc. now owns 82,772 shares of the company’s stock valued at $221,000 after buying an additional 6,056 shares during the period. Wells Fargo & Company MN boosted its position in Rimini Street by 27.7% during the fourth quarter. Wells Fargo & Company MN now owns 32,415 shares of the company’s stock worth $87,000 after acquiring an additional 7,023 shares during the last quarter. Finally, Prudential Financial Inc. grew its stake in Rimini Street by 67.0% in the 4th quarter. Prudential Financial Inc. now owns 19,935 shares of the company’s stock worth $53,000 after acquiring an additional 8,000 shares during the period. Hedge funds and other institutional investors own 73.75% of the company’s stock.

Rimini Street Price Performance

NASDAQ RMNI opened at $3.34 on Friday. The company has a market cap of $306.56 million, a P/E ratio of -9.03 and a beta of 1.33. Rimini Street, Inc. has a 12 month low of $1.53 and a 12 month high of $4.15. The company has a 50-day moving average of $3.51 and a 200-day moving average of $2.88.

Rimini Street (NASDAQ:RMNI) last issued its quarterly earnings results on Thursday, February 27th. The company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.10 by ($0.01). The company had revenue of $114.21 million for the quarter, compared to analyst estimates of $102.57 million. Rimini Street had a negative return on equity of 83.26% and a negative net margin of 7.87%. As a group, equities research analysts anticipate that Rimini Street, Inc. will post 0.37 EPS for the current year.

Insider Activity at Rimini Street

In other news, CFO Michael L. Perica sold 28,319 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $3.28, for a total value of $92,886.32. Following the transaction, the chief financial officer now directly owns 237,361 shares in the company, valued at $778,544.08. This trade represents a 10.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Steven Hershkowitz sold 24,974 shares of the business’s stock in a transaction dated Wednesday, April 30th. The stock was sold at an average price of $3.47, for a total value of $86,659.78. Following the sale, the executive vice president now owns 75,025 shares of the company’s stock, valued at $260,336.75. The trade was a 24.97 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 139,507 shares of company stock worth $464,582. 41.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, Alliance Global Partners upgraded Rimini Street from a “neutral” rating to a “buy” rating in a report on Friday, February 28th.

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.