Insider Selling: Rimini Street (NASDAQ:RMNI) EVP Sells 5,193 Shares of Stock

Rimini Street, Inc. (NASDAQ:RMNI) EVP Steven Hershkowitz sold 5,193 shares of the company’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $3.64, for a total value of $18,902.52. Following the completion of the transaction, the executive vice president owned 107,953 shares of the company’s stock, valued at approximately $392,948.92. This represents a 4.59% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Rimini Street Trading Down 2.4%

NASDAQ RMNI traded down $0.09 during mid-day trading on Friday, reaching $3.62. 457,035 shares of the company’s stock traded hands, compared to its average volume of 453,446. The company has a market cap of $331.81 million, a price-to-earnings ratio of 9.05 and a beta of 1.28. The company has a fifty day simple moving average of $3.57 and a 200-day simple moving average of $4.02. Rimini Street, Inc. has a 1-year low of $2.79 and a 1-year high of $5.38.

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

Wall Street Analyst Weigh In

RMNI has been the topic of several research reports. Wall Street Zen cut Rimini Street from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. TD Cowen raised shares of Rimini Street to a “hold” rating in a report on Monday, February 23rd. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Rimini Street in a research report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $5.75.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Quarry LP acquired a new position in Rimini Street during the 3rd quarter valued at about $31,000. SG Americas Securities LLC bought a new position in shares of Rimini Street in the fourth quarter valued at approximately $43,000. BNP Paribas Financial Markets increased its stake in shares of Rimini Street by 96.8% during the third quarter. BNP Paribas Financial Markets now owns 9,944 shares of the company’s stock valued at $47,000 after acquiring an additional 4,891 shares during the period. nVerses Capital LLC bought a new stake in Rimini Street during the fourth quarter worth approximately $57,000. Finally, NewEdge Advisors LLC acquired a new stake in Rimini Street in the first quarter worth approximately $66,000. 73.75% of the stock is owned by institutional investors and hedge funds.

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.