Insider Selling: Rimini Street (NASDAQ:RMNI) CEO Sells 52,085 Shares of Stock

Rimini Street, Inc. (NASDAQ:RMNI) CEO Seth Ravin sold 52,085 shares of the company’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $3.64, for a total transaction of $189,589.40. Following the sale, the chief executive officer directly owned 722,564 shares in the company, valued at approximately $2,630,132.96. The trade was a 6.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Rimini Street Stock Performance

Shares of NASDAQ:RMNI traded down $0.09 on Friday, reaching $3.62. The company’s stock had a trading volume of 457,035 shares, compared to its average volume of 453,446. The company has a 50-day simple moving average of $3.57 and a 200 day simple moving average of $4.02. Rimini Street, Inc. has a 52-week low of $2.79 and a 52-week high of $5.38. The company has a market cap of $331.81 million, a P/E ratio of 9.05 and a beta of 1.28.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RMNI. Wall Street Zen cut Rimini Street from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. TD Cowen upgraded Rimini Street to a “hold” rating in a research report on Monday, February 23rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Rimini Street in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Rimini Street currently has an average rating of “Hold” and a consensus price target of $5.75.

Key Rimini Street News

Here are the key news stories impacting Rimini Street this week:

• Positive Sentiment: Institutional investors have been adding to positions (Invesco, BNP Paribas, Barclays and others increased stakes), and institutions now own ~73.8% of the stock — a supportive sign of professional interest that can limit downside. MarketBeat Institutional & Insider Summary
• Neutral Sentiment: Analysts show a consensus “Hold” with a target around $5.75 (one Buy, two Holds). Valuation metrics (PE ~9, market cap ~ $330M) may attract value-oriented buyers, but the stock sits below its 200-day moving average, which mutes near-term bullish conviction. MarketBeat Analyst Coverage
• Negative Sentiment: Several senior insiders sold small blocks of shares on Mar 3 — CEO Seth Ravin (3,080 shares), CMO David Rowe (2,809), CFO Michael Perica (3,140) and other EVPs — each sale worth roughly $8–12k (at ~$3.72). Though the reductions are small percentage-wise (sub-4% for any single insider), clustered insider selling often pressures sentiment and can trigger short-term selling by other holders. InsiderTrades: Insider Selling Alert

Institutional Investors Weigh In On Rimini Street

A number of institutional investors and hedge funds have recently modified their holdings of RMNI. Boston Partners increased its stake in Rimini Street by 37.1% in the second quarter. Boston Partners now owns 347,915 shares of the company’s stock worth $1,312,000 after purchasing an additional 94,160 shares during the period. Voss Capital LP bought a new position in shares of Rimini Street in the second quarter worth about $942,000. Samjo Management LLC grew its holdings in shares of Rimini Street by 142.5% in the second quarter. Samjo Management LLC now owns 485,000 shares of the company’s stock worth $1,828,000 after purchasing an additional 285,000 shares during the last quarter. Brooktree Capital Management increased its stake in Rimini Street by 0.4% in the 2nd quarter. Brooktree Capital Management now owns 3,902,223 shares of the company’s stock worth $14,711,000 after buying an additional 15,770 shares during the period. Finally, Formula Growth Ltd. bought a new stake in Rimini Street during the 2nd quarter valued at about $754,000. 73.75% of the stock is owned by institutional investors.

About Rimini Street

Rimini Street, Inc (NASDAQ: RMNI) is a provider of enterprise software support services, specializing in third-party maintenance for mission-critical applications from leading technology vendors. The company offers comprehensive support for ERP, CRM and database environments, with coverage for systems from providers such as Oracle and SAP. Through its proactive system monitoring, performance tuning, regulatory and tax update services, Rimini Street aims to extend the lifecycle of enterprise applications while delivering service levels comparable to or exceeding those of original software vendors.

Founded in 2005 by technology entrepreneur Seth Ravin, Rimini Street has grown from a startup into a publicly traded company following its initial public offering in March 2018.