Brendel Financial Advisors LLC Invests $278,000 in Rimini Street, Inc. (NASDAQ:RMNI)

Brendel Financial Advisors LLC purchased a new position in shares of Rimini Street, Inc. (NASDAQ:RMNI) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 79,974 shares of the company’s stock, valued at approximately $278,000. Brendel Financial Advisors LLC owned approximately 0.09% of Rimini Street as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in RMNI. Bank of New York Mellon Corp boosted its stake in shares of Rimini Street by 20.0% during the 4th quarter. Bank of New York Mellon Corp now owns 278,619 shares of the company’s stock worth $744,000 after acquiring an additional 46,511 shares in the last quarter. Los Angeles Capital Management LLC boosted its stake in Rimini Street by 7.4% during the 4th quarter. Los Angeles Capital Management LLC now owns 276,025 shares of the company’s stock valued at $737,000 after purchasing an additional 18,906 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Rimini Street by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 457,181 shares of the company’s stock valued at $1,221,000 after purchasing an additional 12,300 shares during the period. Connor Clark & Lunn Investment Management Ltd. boosted its stake in Rimini Street by 28.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 667,673 shares of the company’s stock valued at $1,783,000 after purchasing an additional 149,659 shares during the period. Finally, Brooktree Capital Management boosted its stake in Rimini Street by 10.3% during the 4th quarter. Brooktree Capital Management now owns 3,871,041 shares of the company’s stock valued at $10,336,000 after purchasing an additional 361,380 shares during the period. Institutional investors own 73.75% of the company’s stock.

Insider Activity at Rimini Street

In other Rimini Street news, CEO Seth A. Ravin sold 61,292 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $3.28, for a total value of $201,037.76. Following the completion of the transaction, the chief executive officer now owns 652,696 shares of the company’s stock, valued at $2,140,842.88. This represents a 8.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Steven Hershkowitz sold 24,974 shares of the company’s stock in a transaction that occurred on Wednesday, April 30th. The shares were sold at an average price of $3.47, for a total value of $86,659.78. Following the completion of the transaction, the executive vice president now directly owns 75,025 shares of the company’s stock, valued at approximately $260,336.75. This trade represents a 24.97% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 128,325 shares of company stock worth $425,651 in the last 90 days. 41.20% of the stock is owned by company insiders.

Rimini Street Stock Down 3.7%

Shares of NASDAQ:RMNI opened at $3.11 on Friday. The business has a 50 day moving average price of $3.30 and a 200 day moving average price of $3.16. Rimini Street, Inc. has a twelve month low of $1.53 and a twelve month high of $4.15. The company has a market cap of $285.47 million, a price-to-earnings ratio of -8.41 and a beta of 1.27.

Wall Street Analyst Weigh In

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

About Rimini Street

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.