Rimini Street (RMNI) Releases Quarterly Earnings Results

Rimini Street (NASDAQ:RMNI) released its quarterly earnings results on Thursday. The company reported $0.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.08, Morningstar.com reports. The firm had revenue of $62.63 million during the quarter.

Shares of RMNI traded down $0.47 during midday trading on Friday, hitting $5.98. The stock had a trading volume of 60,411 shares, compared to its average volume of 31,448. Rimini Street has a twelve month low of $4.00 and a twelve month high of $9.23.

In other Rimini Street news, SVP Kevin Maddock sold 57,500 shares of Rimini Street stock in a transaction dated Thursday, August 23rd. The stock was sold at an average price of $5.15, for a total value of $296,125.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Thomas B. Sabol purchased 5,000 shares of the company’s stock in a transaction on Friday, August 17th. The stock was purchased at an average cost of $5.31 per share, for a total transaction of $26,550.00. The disclosure for this purchase can be found here. In the last three months, insiders acquired 12,000 shares of company stock worth $61,300 and sold 414,525 shares worth $2,231,987.

Several hedge funds and other institutional investors have recently made changes to their positions in RMNI. Bank of New York Mellon Corp bought a new position in shares of Rimini Street in the 2nd quarter valued at about $116,000. Schwab Charles Investment Management Inc. bought a new position in shares of Rimini Street in the 2nd quarter valued at about $124,000. Ramsey Quantitative Systems grew its holdings in shares of Rimini Street by 102.8% in the 3rd quarter. Ramsey Quantitative Systems now owns 24,487 shares of the company’s stock valued at $155,000 after acquiring an additional 12,414 shares in the last quarter. Northern Trust Corp bought a new position in shares of Rimini Street in the 2nd quarter valued at about $568,000. Finally, Millennium Management LLC grew its holdings in shares of Rimini Street by 147.1% in the 1st quarter. Millennium Management LLC now owns 151,748 shares of the company’s stock valued at $1,299,000 after acquiring an additional 90,331 shares in the last quarter. Institutional investors own 41.39% of the company’s stock.

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Rimini Street Company Profile

Rimini Street, Inc provides enterprise software products and services for various industries. The company offers third-party support for Oracle and SAP software products. It sells its solutions primarily through direct sales organizations in North America, Latin America, Europe, Africa, the Middle East, Asia, and the Asia-Pacific.

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