David W. Rowe Sells 2,951 Shares of Rimini Street, Inc. (NASDAQ:RMNI) Stock

Rimini Street, Inc. (NASDAQ:RMNI) CMO David W. Rowe sold 2,951 shares of the company’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $3.48, for a total transaction of $10,269.48. Following the completion of the transaction, the chief marketing officer now owns 394,479 shares of the company’s stock, valued at $1,372,786.92. This trade 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 this link.

Rimini Street Trading Up 3.2 %

RMNI stock opened at $3.59 on Friday. The firm has a 50 day simple moving average of $2.96 and a 200-day simple moving average of $2.30. The company has a market capitalization of $326.40 million, a P/E ratio of -9.70 and a beta of 1.31. Rimini Street, Inc. has a twelve month low of $1.53 and a twelve month high of $3.80.

Rimini Street (NASDAQ:RMNI) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). The company had revenue of $114.21 million for the quarter, compared to the consensus estimate 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, research analysts predict that Rimini Street, Inc. will post 0.37 EPS for the current year.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On Rimini Street

Hedge funds have recently bought and sold shares of the company. ProShare Advisors LLC raised its stake in Rimini Street by 49.1% during the fourth 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 in the last quarter. Squarepoint Ops LLC bought a new stake in shares of Rimini Street in the 4th quarter valued at approximately $40,000. Prudential Financial Inc. raised its position in shares of Rimini Street by 67.0% during the 4th quarter. Prudential Financial Inc. now owns 19,935 shares of the company’s stock valued at $53,000 after acquiring an additional 8,000 shares in the last quarter. SG Americas Securities LLC lifted its stake in Rimini Street by 23.2% during the fourth quarter. SG Americas Securities LLC now owns 22,527 shares of the company’s stock worth $60,000 after purchasing an additional 4,238 shares during the last quarter. Finally, Walleye Capital LLC acquired a new position in Rimini Street in the fourth quarter worth $63,000. 73.75% of the stock is currently owned by institutional investors and hedge funds.

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.