Rimini Street, Inc. (NASDAQ:RMNI) CEO Sells $201,037.76 in Stock

Rimini Street, Inc. (NASDAQ:RMNI) CEO Seth A. Ravin sold 61,292 shares of Rimini Street stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $3.28, for a total value of $201,037.76. Following the transaction, the chief executive officer now owns 652,696 shares in the company, valued at $2,140,842.88. This trade represents a 8.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

Rimini Street Stock Performance

Shares of Rimini Street stock opened at $3.34 on Friday. Rimini Street, Inc. has a fifty-two week low of $1.53 and a fifty-two week high of $4.15. The company has a market capitalization of $306.56 million, a P/E ratio of -9.03 and a beta of 1.33. The company has a fifty day moving average of $3.51 and a 200 day moving average of $2.88.

Rimini Street (NASDAQ:RMNI) last posted its quarterly earnings results 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). The business had revenue of $114.21 million during the quarter, compared to the consensus estimate of $102.57 million. Rimini Street had a negative return on equity of 83.26% and a negative net margin of 7.87%. Analysts forecast that Rimini Street, Inc. will post 0.37 EPS for the current year.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Rimini Street

Several institutional investors have recently bought and sold shares of RMNI. Brooktree Capital Management boosted its holdings in shares of Rimini Street by 0.4% during the 1st quarter. Brooktree Capital Management now owns 3,886,453 shares of the company’s stock valued at $13,525,000 after purchasing an additional 15,412 shares during the last quarter. Pacific Ridge Capital Partners LLC boosted its stake in Rimini Street by 3.5% during the first quarter. Pacific Ridge Capital Partners LLC now owns 1,599,149 shares of the company’s stock valued at $5,565,000 after buying an additional 53,478 shares during the last quarter. Geode Capital Management LLC boosted its stake in Rimini Street by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 1,221,314 shares of the company’s stock valued at $3,261,000 after buying an additional 8,211 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Rimini Street by 28.9% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 667,673 shares of the company’s stock valued at $1,783,000 after buying an additional 149,659 shares in the last quarter. Finally, Bridgeway Capital Management LLC increased its stake in Rimini Street by 7.9% in the 4th quarter. Bridgeway Capital Management LLC now owns 545,100 shares of the company’s stock worth $1,455,000 after acquiring an additional 40,000 shares during the last quarter. 73.75% of the stock is owned by hedge funds and other 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.