Rimini Street, Inc. (NASDAQ:RMNI) Shares bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its stake in Rimini Street, Inc. (NASDAQ:RMNI – Free Report) by 17.9% in the second quarter, HoldingsChannel reports. The firm owned 307,911 shares of the company’s stock after purchasing an additional 46,736 shares during the period. Bank of New York Mellon Corp’s holdings in Rimini Street were worth $945,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. LSV Asset Management boosted its holdings in shares of Rimini Street by 799.6% in the first quarter. LSV Asset Management now owns 521,900 shares of the company’s stock valued at $1,701,000 after buying an additional 463,884 shares during the period. Acadian Asset Management LLC raised its position in Rimini Street by 43.8% in the first quarter. Acadian Asset Management LLC now owns 2,179,022 shares of the company’s stock valued at $7,099,000 after purchasing an additional 663,781 shares during the last quarter. Panagora Asset Management Inc. purchased a new stake in shares of Rimini Street in the fourth quarter valued at approximately $334,000. Quadrature Capital Ltd purchased a new position in shares of Rimini Street in the 1st quarter worth $33,000. Finally, Vanguard Group Inc. boosted its stake in Rimini Street by 2.0% in the first quarter. Vanguard Group Inc. now owns 4,522,843 shares of the company’s stock valued at $14,744,000 after purchasing an additional 86,755 shares during the period. Hedge funds and other institutional investors own 73.75% of the company’s shares.

Analysts on Wall Street are forecasting an increase

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

Get the latest stock report on MRI

Rimini street stock performance

NASDAQ:RMNI opened at $1.82 on Friday. The stock has a market cap of $164.55 million, a price-to-earnings ratio of 7.58 and a beta of 1.28. Rimini Street, Inc. it has a one year low of $1.55 and a one year high of $3.44. The company’s 50-day simple moving average is $2.12 and its 200-day simple moving average is $2.59.

Strada Rimini (NASDAQ:RMNI – Get Free Report ) last issued its earnings results on Wednesday, July 31st. The company reported $0.04 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.03). Strada Rimini had a net margin of 3.80% and a negative return on equity of 73.91%. The business had revenue of $103.12 million for the quarter, compared to analysts’ expectations of $106.42 million. On average, equities research analysts predict that Rimini Street, Inc. it will post 0.22 EPS for the current year.

About Rimini street

(Free Report)

Rimini Street, Inc provides enterprise software products, services and support. The company is engaged in providing support services for Oracle and SAP enterprise software products. It also offers Rimini ONE, an outsourcing option that provides a unified and integrated set of services to run, manage, support, customize, configure, connect, protect, monitor and optimize application, database and enterprise software technology of its customers; Rimini Support, essential support for Oracle, SAP, proprietary and open-source databases and technology software; Rimini Manage, a suite of managed services for applications and database software; Rimini Protect, a suite of services and customized software security solutions; and Rimini Connect, a suite of managed interoperability solutions for browsers, operating systems and email systems.

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Want to see what other hedge funds RMNI owns? Visit HoldingsChannel.com to get the latest 13F filings and insider trading for Rimini Street, Inc. (NASDAQ:RMNI – Free Report).

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