Rimini Street, Inc. (NASDAQ:RMNI) CMO David W. Rowe Sells 7,620 Shares

Rimini Street, Inc. (NASDAQ:RMNI) CMO David W. Rowe sold 7,620 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $3.28, for a total value of $24,993.60. Following the completion of the transaction, the chief marketing officer now owns 421,627 shares in the company, valued at approximately $1,382,936.56. This represents a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Rimini Street Stock Down 0.6 %

Shares of Rimini Street stock opened at $3.34 on Friday. The company has a market cap of $306.56 million, a PE ratio of -9.03 and a beta of 1.33. Rimini Street, Inc. has a 52 week low of $1.53 and a 52 week high of $4.15. The business has a 50 day moving average price of $3.51 and a 200-day moving average price of $2.87.

Rimini Street (NASDAQ:RMNI) last issued its quarterly earnings data on Thursday, February 27th. The company reported $0.09 earnings per share 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 company had revenue of $114.21 million for the quarter, compared to the consensus estimate of $102.57 million. As a group, research analysts anticipate that Rimini Street, Inc. will post 0.37 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Rimini Street

Institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its position in shares of Rimini Street by 23.2% during the 4th quarter. SG Americas Securities LLC now owns 22,527 shares of the company’s stock worth $60,000 after buying an additional 4,238 shares in the last quarter. Barclays PLC lifted its holdings in Rimini Street by 281.6% during the third quarter. Barclays PLC now owns 70,291 shares of the company’s stock worth $130,000 after acquiring an additional 51,870 shares during the period. JPMorgan Chase & Co. boosted its position in Rimini Street by 38.0% in the third quarter. JPMorgan Chase & Co. now owns 99,602 shares of the company’s stock worth $184,000 after purchasing an additional 27,451 shares during the last quarter. Renaissance Technologies LLC grew its stake in Rimini Street by 24.5% in the 4th quarter. Renaissance Technologies LLC now owns 198,326 shares of the company’s stock valued at $530,000 after purchasing an additional 39,000 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Rimini Street by 20.0% during the 4th quarter. Bank of New York Mellon Corp now owns 278,619 shares of the company’s stock valued at $744,000 after purchasing an additional 46,511 shares during the last quarter. 73.75% of the stock is owned by institutional investors.

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.