Rimini Street, Inc. (NASDAQ:RMNI) Short Interest Update

Rimini Street, Inc. (NASDAQ:RMNI) was the recipient of a significant decline in short interest in the month of November. As of November 15th, there was short interest totalling 1,710,000 shares, a decline of 18.2% from the October 31st total of 2,090,000 shares. Currently, 3.6% of the shares of the company are sold short. Based on an average trading volume of 261,500 shares, the short-interest ratio is presently 6.5 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in shares of Rimini Street by 2.0% during the first quarter. Vanguard Group Inc. now owns 4,522,843 shares of the company’s stock valued at $14,744,000 after acquiring an additional 86,755 shares during the period. Brooktree Capital Management lifted its holdings in Rimini Street by 14.6% during the 3rd quarter. Brooktree Capital Management now owns 3,509,661 shares of the company’s stock valued at $6,493,000 after purchasing an additional 445,984 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in Rimini Street by 1.9% during the 2nd quarter. Acadian Asset Management LLC now owns 2,220,161 shares of the company’s stock valued at $6,813,000 after purchasing an additional 41,139 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its position in Rimini Street by 2.3% in the second quarter. Diamond Hill Capital Management Inc. now owns 2,007,515 shares of the company’s stock valued at $6,163,000 after buying an additional 44,401 shares in the last quarter. Finally, State Street Corp grew its stake in Rimini Street by 0.8% during the third quarter. State Street Corp now owns 1,020,639 shares of the company’s stock worth $1,888,000 after buying an additional 8,377 shares during the last quarter. Institutional investors own 73.75% of the company’s stock.

Rimini Street Stock Performance

Shares of NASDAQ:RMNI traded down $0.08 during trading on Friday, hitting $2.16. 107,626 shares of the stock were exchanged, compared to its average volume of 259,868. The company has a market capitalization of $196.39 million, a price-to-earnings ratio of -5.84 and a beta of 1.29. Rimini Street has a 1-year low of $1.53 and a 1-year high of $3.43. The company’s fifty day simple moving average is $1.88 and its 200-day simple moving average is $2.23.

Rimini Street (NASDAQ:RMNI) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $0.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.15. Rimini Street had a negative net margin of 7.87% and a negative return on equity of 83.26%. The company had revenue of $104.67 million during the quarter, compared to analysts’ expectations of $99.39 million. On average, research analysts forecast that Rimini Street will post 0.37 earnings per share for the current fiscal year.

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.