Rimini Street (NASDAQ:RMNI) EVP Sells $211,560.36 in Stock

Rimini Street, Inc. (NASDAQ:RMNI) EVP Steven Hershkowitz sold 42,482 shares of the company’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $4.98, for a total transaction of $211,560.36. Following the completion of the sale, the executive vice president directly owned 186,992 shares of the company’s stock, valued at $931,220.16. The trade was a 18.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Rimini Street Price Performance

Shares of RMNI opened at $5.26 on Thursday. The firm’s 50 day moving average is $4.47 and its 200-day moving average is $4.05. The stock has a market capitalization of $487.58 million, a P/E ratio of 43.84 and a beta of 1.27. Rimini Street, Inc. has a 12-month low of $2.87 and a 12-month high of $5.68.

Rimini Street (NASDAQ:RMNI) last released its earnings results on Thursday, October 29th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. Rimini Street had a net margin of 2.51% and a negative return on equity of 92.98%. The business had revenue of $109.34 million for the quarter, compared to the consensus estimate of $110.82 million. As a group, equities research analysts forecast that Rimini Street, Inc. will post 0.22 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. CenterBook Partners LP lifted its position in shares of Rimini Street by 34.5% in the 3rd quarter. CenterBook Partners LP now owns 418,106 shares of the company’s stock valued at $1,781,000 after acquiring an additional 107,284 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. purchased a new position in Rimini Street during the 3rd quarter worth approximately $53,000. AXQ Capital LP purchased a new position in Rimini Street during the 2nd quarter worth approximately $90,000. Public Employees Retirement System of Ohio acquired a new stake in Rimini Street during the 2nd quarter valued at $158,000. Finally, Corient Private Wealth LP acquired a new stake in Rimini Street during the 2nd quarter valued at $427,000. 73.75% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of Rimini Street in a research report on Friday, October 2nd. Roth Capital restated a “buy” rating and issued a $6.50 target price on shares of Rimini Street in a report on Thursday, July 30th. Craig Hallum restated a “buy” rating and issued a $8.00 target price on shares of Rimini Street in a report on Friday, July 31st. Finally, Wall Street Zen raised Rimini Street from a “buy” rating to a “strong-buy” rating in a research report on Saturday, October 31st. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $6.33.

Rimini Street Company Profile

Rimini Street, Inc provides enterprise software support, products and services for organizations using business applications and database systems. The company is best known for third-party support for software from Oracle, SAP and other enterprise technology providers, helping customers maintain existing systems while reducing the need for frequent upgrades.

Its offerings include application management, database support, interoperability services, security services, managed services and professional services.