Voss Capital LP Purchases Shares of 250,000 Rimini Street, Inc. $RMNI

Voss Capital LP purchased a new stake in Rimini Street, Inc. (NASDAQ:RMNI) during the second quarter, HoldingsChannel reports. The institutional investor purchased 250,000 shares of the company’s stock, valued at approximately $942,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Marshall Wace LLP bought a new position in shares of Rimini Street during the second quarter worth about $1,134,000. Samjo Management LLC boosted its position in Rimini Street by 142.5% during the 2nd quarter. Samjo Management LLC now owns 485,000 shares of the company’s stock worth $1,828,000 after acquiring an additional 285,000 shares during the last quarter. Boston Partners acquired a new position in Rimini Street during the 1st quarter worth approximately $883,000. Informed Momentum Co LLC bought a new position in shares of Rimini Street during the 1st quarter worth approximately $718,000. Finally, Formula Growth Ltd. acquired a new stake in shares of Rimini Street in the second quarter valued at approximately $754,000. 73.75% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Cowen reissued a “hold” rating on shares of Rimini Street in a research report on Friday, October 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Rimini Street in a research note on Monday, December 1st. 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, TD Cowen reduced their price objective on shares of Rimini Street from $6.00 to $5.00 and set a “hold” rating for the company in a research note on Friday, October 31st. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $5.83.

Rimini Street Trading Up 2.2%

NASDAQ:RMNI opened at $4.16 on Monday. The stock has a market capitalization of $381.68 million, a PE ratio of 9.04 and a beta of 1.19. Rimini Street, Inc. has a 1-year low of $1.95 and a 1-year high of $5.38. The firm has a fifty day simple moving average of $4.21 and a 200 day simple moving average of $4.13.

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.