Insider Selling: Rimini Street, Inc. (NASDAQ:RMNI) CFO Sells $92,886.32 in Stock

Rimini Street, Inc. (NASDAQ:RMNI) CFO Michael L. Perica sold 28,319 shares of Rimini Street stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $3.28, for a total transaction of $92,886.32. Following the completion of the transaction, the chief financial officer now directly owns 237,361 shares of the company’s stock, valued at $778,544.08. The trade was a 10.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Rimini Street Stock Down 0.6 %

NASDAQ RMNI opened at $3.34 on Friday. Rimini Street, Inc. has a 52 week low of $1.53 and a 52 week high of $4.15. The firm has a market capitalization of $306.56 million, a price-to-earnings ratio of -9.03 and a beta of 1.33. The company has a fifty day moving average of $3.51 and a two-hundred day moving average of $2.88.

Rimini Street (NASDAQ:RMNI) last issued 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). Rimini Street had a negative net margin of 7.87% and a negative return on equity of 83.26%. The firm had revenue of $114.21 million for the quarter, compared to the consensus estimate of $102.57 million. Equities research analysts anticipate that Rimini Street, Inc. will post 0.37 EPS for the current year.

Analysts Set New Price Targets

Separately, Alliance Global Partners raised Rimini Street from a “neutral” rating to a “buy” rating in a research note on Friday, February 28th.

Hedge Funds Weigh In On Rimini Street

A number of large investors have recently bought and sold shares of RMNI. SG Americas Securities LLC lifted its position in shares of 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. Price T Rowe Associates Inc. MD boosted its position in Rimini Street by 6.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 73,906 shares of the company’s stock valued at $198,000 after buying an additional 4,477 shares during the period. ProShare Advisors LLC grew its stake in Rimini Street by 49.1% in the 4th quarter. ProShare Advisors LLC now owns 14,942 shares of the company’s stock worth $40,000 after acquiring an additional 4,918 shares in the last quarter. Ameriprise Financial Inc. increased its position in shares of Rimini Street by 7.9% during the fourth quarter. Ameriprise Financial Inc. now owns 82,772 shares of the company’s stock worth $221,000 after acquiring an additional 6,056 shares during the period. Finally, Wells Fargo & Company MN raised its stake in shares of Rimini Street by 27.7% during the fourth quarter. Wells Fargo & Company MN now owns 32,415 shares of the company’s stock valued at $87,000 after acquiring an additional 7,023 shares in the last quarter. Hedge funds and other institutional investors own 73.75% of the company’s stock.

About Rimini Street

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.