Insider Selling: Rimini Street, Inc. (NASDAQ:RMNI) CMO Sells 2,951 Shares of Stock

Rimini Street, Inc. (NASDAQ:RMNI) CMO David W. Rowe sold 2,951 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $3.48, for a total transaction of $10,269.48. Following the completion of the sale, the chief marketing officer now directly owns 394,479 shares of the company’s stock, valued at approximately $1,372,786.92. This represents a 0.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Rimini Street Price Performance

NASDAQ RMNI opened at $3.68 on Friday. The company’s 50 day simple moving average is $2.97 and its 200 day simple moving average is $2.31. Rimini Street, Inc. has a 12 month low of $1.53 and a 12 month high of $3.80. The company has a market capitalization of $334.59 million, a P/E ratio of -9.95 and a beta of 1.31.

Rimini Street (NASDAQ:RMNI) last released its earnings results on Thursday, February 27th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). Rimini Street had a negative return on equity of 83.26% and a negative net margin of 7.87%. The business had revenue of $114.21 million during the quarter, compared to the consensus estimate of $102.57 million. On average, analysts anticipate that Rimini Street, Inc. will post 0.37 earnings per share for the current year.

Institutional Investors Weigh In On Rimini Street

A number of large investors have recently made changes to their positions in RMNI. Brooktree Capital Management raised its holdings in shares of Rimini Street by 14.6% during the third quarter. Brooktree Capital Management now owns 3,509,661 shares of the company’s stock valued at $6,493,000 after acquiring an additional 445,984 shares during the period. Bard Associates Inc. raised its holdings in shares of Rimini Street by 7.7% during the third quarter. Bard Associates Inc. now owns 345,257 shares of the company’s stock valued at $639,000 after acquiring an additional 24,757 shares during the period. Gladius Capital Management LP raised its holdings in shares of Rimini Street by 201.2% during the third quarter. Gladius Capital Management LP now owns 56,018 shares of the company’s stock valued at $104,000 after acquiring an additional 37,418 shares during the period. Banque Cantonale Vaudoise raised its holdings in shares of Rimini Street by 165.0% during the third quarter. Banque Cantonale Vaudoise now owns 75,367 shares of the company’s stock valued at $139,000 after acquiring an additional 46,928 shares during the period. Finally, Cerity Partners LLC raised its holdings in shares of Rimini Street by 80.2% during the third quarter. Cerity Partners LLC now owns 306,843 shares of the company’s stock valued at $568,000 after acquiring an additional 136,609 shares during the period. Institutional investors and hedge funds own 73.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on RMNI shares. Craig Hallum upgraded shares of Rimini Street from a “hold” rating to a “buy” rating and boosted their target price for the stock from $2.00 to $6.00 in a report on Tuesday, December 17th. Alliance Global Partners upgraded shares of Rimini Street from a “neutral” rating to a “buy” rating in a report on Friday, February 28th.

Rimini Street Company Profile

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.