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 stock in a transaction dated 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 of the company’s stock, valued at $579,287.76. This trade represents a 1.94 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Rimini Street Trading Up 3.2 %

Rimini Street stock opened at $3.59 on Friday. The stock has a 50-day moving average price of $2.96 and a two-hundred day moving average price of $2.30. 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 $326.40 million, a PE ratio of -9.70 and a beta of 1.31.

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

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. 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 upgraded shares of Rimini Street from a “hold” rating to a “buy” rating and upped their price target for the stock from $2.00 to $6.00 in a report on Tuesday, December 17th.

Hedge Funds Weigh In On Rimini Street

A number of hedge funds have recently modified their holdings of RMNI. Brooktree Capital Management increased its holdings in Rimini Street by 14.6% in the third 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 period. Janus Henderson Group PLC acquired a new stake in shares of Rimini Street in the third quarter valued at about $210,000. SG Americas Securities LLC increased its stake in shares of Rimini Street by 23.2% in the fourth quarter. SG Americas Securities LLC now owns 22,527 shares of the company’s stock valued at $60,000 after buying an additional 4,238 shares during the period. Cerity Partners LLC increased its stake in shares of Rimini Street by 80.2% in the third quarter. Cerity Partners LLC now owns 306,843 shares of the company’s stock valued at $568,000 after buying an additional 136,609 shares during the period. Finally, State Street Corp raised its position in shares of 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 acquiring an additional 8,377 shares during the last quarter. Institutional investors and hedge funds own 73.75% of the company’s stock.

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.