Insider Selling: Rimini Street, Inc. (NASDAQ:RMNI) CFO Sells 3,295 Shares of Stock

Rimini Street, Inc. (NASDAQ:RMNI) CFO Michael L. Perica sold 3,295 shares of the firm’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 $11,466.60. Following the completion of the transaction, the chief financial officer now directly owns 166,462 shares in the company, valued at $579,287.76. This trade represents a 1.94 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Rimini Street Price Performance

RMNI opened at $3.68 on Friday. The company’s 50 day simple moving average is $2.97 and its two-hundred day simple moving average is $2.31. Rimini Street, Inc. has a 1-year low of $1.53 and a 1-year high of $3.80. The firm has a market capitalization of $334.59 million, a price-to-earnings ratio of -9.95 and a beta of 1.31.

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

Institutional Trading of Rimini Street

Institutional investors have recently made changes to their positions in the company. ProShare Advisors LLC raised its position in shares of Rimini Street by 49.1% during the 4th quarter. ProShare Advisors LLC now owns 14,942 shares of the company’s stock valued at $40,000 after buying an additional 4,918 shares during the period. Squarepoint Ops LLC purchased a new stake in shares of Rimini Street during the 4th quarter valued at approximately $40,000. Prudential Financial Inc. increased its holdings in Rimini Street by 67.0% in the 4th quarter. Prudential Financial Inc. now owns 19,935 shares of the company’s stock valued at $53,000 after purchasing an additional 8,000 shares during the last quarter. Virtu Financial LLC acquired a new stake in Rimini Street in the 3rd quarter valued at approximately $58,000. Finally, SG Americas Securities LLC increased its holdings in Rimini Street by 23.2% in the 4th quarter. SG Americas Securities LLC now owns 22,527 shares of the company’s stock valued at $60,000 after purchasing an additional 4,238 shares during the last quarter. Hedge funds and other institutional investors own 73.75% of the company’s stock.

Analysts Set New Price Targets

RMNI has been the topic of a number of research reports. Alliance Global Partners raised shares of Rimini Street from a “neutral” rating to a “buy” rating in a research note on Friday, February 28th. Craig Hallum raised shares of Rimini Street from a “hold” rating to a “buy” rating and raised their target price for the stock from $2.00 to $6.00 in a research note on Tuesday, December 17th.

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.