Insider Selling: Rimini Street (NASDAQ:RMNI) CFO Sells $90,559.56 in Stock

Rimini Street, Inc. (NASDAQ:RMNI) CFO Michael Perica sold 24,879 shares of the company’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $3.64, for a total transaction of $90,559.56. Following the transaction, the chief financial officer owned 117,655 shares of the company’s stock, valued at $428,264.20. This trade represents a 17.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Rimini Street Price Performance

RMNI stock traded down $0.09 during midday trading on Friday, reaching $3.62. 457,035 shares of the stock were exchanged, compared to its average volume of 453,446. Rimini Street, Inc. has a 52 week low of $2.79 and a 52 week high of $5.38. The company has a fifty day moving average price of $3.57 and a 200 day moving average price of $4.02. The stock has a market capitalization of $331.81 million, a PE ratio of 9.05 and a beta of 1.28.

Institutional Inflows and Outflows

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

Analyst Upgrades and Downgrades

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

Trending Headlines about Rimini Street

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

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.