5 Best Stocks to Buy Now According to Jeffrey Diehl’s Adams Street Partners

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01. Rimini Street, Inc. (NASDAQ:RMNI)

Adams Street Partners Stake Value: $141.628 million

Percentage of Adams Street Partners 13F Portfolio: 36.87%

Number of Hedge Fund Holders as of Q2 2022: 16

Adams Street Partners was holding the largest stake in Rimini Street, Inc. (NASDAQ:RMNI) during Q2 out of the 895 hedge funds tracked by Insider Monkey. It holds 23.56 million shares worth $141.628 million. At the end of the second quarter of 2022, 16 hedge funds in the database of Insider Monkey held stakes worth $29.54 million in Rimini Street, Inc. (NASDAQ:RMNI), compared to 15 in the preceding quarter worth $163.46 million.

On September 19, analyst Brian Kinstlinger with Alliance Global Partners cut his price target on Rimini Street, Inc. (NASDAQ:RMNI) from $8.50 to $7 while maintaining a Buy recommendation for the shares. The analyst revised his 2023 revenue and adjusted EBITDA projections because he now anticipates more postponed enterprise decisions over third-party software maintenance. Given the current state of the economy, Kinstlinger informs investors in a research note that the executive management teams’ priority lists are changing.

In its Q1 2022 investor letter, Diamond Hill Small Cap Fund mentioned Rimini Street, Inc. (NASDAQ:RMNI) and explained its insights for the company. Here is what the fund said:

“IT services provider Rimini Street — a new holding in Q1 — reported solid fundamentals and is making progress on rectifying recent challenges with its US sales organization. The company remains profitable and is generating solid cash levels contributing to net cash on its balance sheet. What’s more, the elimination of preferred stock in 2021 demonstrates a management team that’s aligned with common shareholders.”

You can also take a look at 10 Dividend Aristocrats Under $60 You Can Buy in September and 10 Dividend Stocks to Buy According to Bruce Kovner’s Caxton Associates LP.

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