Samjo Management LLC Boosts Stock Holdings in Rimini Street, Inc. $RMNI

Samjo Management LLC lifted its stake in Rimini Street, Inc. (NASDAQ:RMNI) by 142.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 485,000 shares of the company’s stock after purchasing an additional 285,000 shares during the period. Samjo Management LLC’s holdings in Rimini Street were worth $1,828,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of RMNI. Belvedere Trading LLC purchased a new stake in Rimini Street during the 2nd quarter worth about $64,000. Russell Investments Group Ltd. boosted its stake in shares of Rimini Street by 3,393.5% in the 2nd quarter. Russell Investments Group Ltd. now owns 18,201 shares of the company’s stock valued at $69,000 after buying an additional 17,680 shares during the period. NewEdge Advisors LLC acquired a new position in shares of Rimini Street during the first quarter worth about $66,000. Public Employees Retirement System of Ohio grew its position in shares of Rimini Street by 899.4% during the second quarter. Public Employees Retirement System of Ohio now owns 23,446 shares of the company’s stock worth $88,000 after buying an additional 21,100 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Rimini Street during the second quarter worth approximately $90,000. 73.75% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Rimini Street

In related news, CFO Michael L. Perica sold 100,249 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $4.20, for a total value of $421,045.80. Following the transaction, the chief financial officer directly owned 146,032 shares of the company’s stock, valued at $613,334.40. This trade represents a 40.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last quarter, insiders have sold 207,817 shares of company stock valued at $874,091. Company insiders own 41.20% of the company’s stock.

Wall Street Analysts Forecast Growth

RMNI has been the subject of a number of recent research reports. Cowen reiterated a “hold” rating on shares of Rimini Street in a research note on Friday, October 31st. TD Cowen reduced their price objective on shares of Rimini Street from $6.00 to $5.00 and set a “hold” rating on the stock in a report on Friday, October 31st. Wall Street Zen cut shares of Rimini Street from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Rimini Street in a research note on Wednesday, November 19th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $5.83.

Rimini Street Stock Down 0.1%

Shares of Rimini Street stock opened at $3.83 on Monday. Rimini Street, Inc. has a 52 week low of $1.95 and a 52 week high of $5.38. The firm’s 50 day moving average is $4.28 and its two-hundred day moving average is $4.11. The firm has a market capitalization of $350.94 million, a P/E ratio of 8.32 and a beta of 1.19.

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.