Rimini Street, Inc. (NASDAQ:RMNI) CEO Seth A. Ravin Sells 14,375 Shares

Rimini Street, Inc. (NASDAQ:RMNI) CEO Seth A. Ravin sold 14,375 shares of the company’s stock in a transaction dated Friday, December 13th. The stock was sold at an average price of $2.20, for a total value of $31,625.00. Following the completion of the transaction, the chief executive officer now directly owns 444,914 shares of the company’s stock, valued at $978,810.80. The trade was a 3.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Rimini Street Stock Performance

NASDAQ RMNI traded up $0.10 on Tuesday, reaching $2.72. The stock had a trading volume of 1,783,975 shares, compared to its average volume of 276,005. The stock has a market cap of $247.30 million, a P/E ratio of -7.35 and a beta of 1.34. The business’s 50-day moving average price is $1.94 and its 200 day moving average price is $2.19. Rimini Street, Inc. has a 12-month low of $1.53 and a 12-month high of $3.43.

Rimini Street (NASDAQ:RMNI) last announced its quarterly earnings results on Wednesday, October 30th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.05 by $0.15. Rimini Street had a negative return on equity of 83.26% and a negative net margin of 7.87%. The business had revenue of $104.67 million for the quarter, compared to analyst estimates of $99.39 million. On average, sell-side analysts predict that Rimini Street, Inc. will post 0.37 earnings per share for the current year.

Analyst Ratings Changes

Separately, Craig Hallum upgraded Rimini Street from a “hold” rating to a “buy” rating and lifted their price target for the stock from $2.00 to $6.00 in a report on Tuesday.

Institutional Investors Weigh In On Rimini Street

A number of hedge funds have recently bought and sold shares of RMNI. Brooktree Capital Management grew its position in shares of Rimini Street by 14.6% during the 3rd quarter. Brooktree Capital Management now owns 3,509,661 shares of the company’s stock valued at $6,493,000 after buying an additional 445,984 shares during the last quarter. Acadian Asset Management LLC raised its position in Rimini Street by 1.9% in the second quarter. Acadian Asset Management LLC now owns 2,220,161 shares of the company’s stock worth $6,813,000 after acquiring an additional 41,139 shares in the last quarter. Diamond Hill Capital Management Inc. boosted its holdings in Rimini Street by 2.3% during the second quarter. Diamond Hill Capital Management Inc. now owns 2,007,515 shares of the company’s stock worth $6,163,000 after buying an additional 44,401 shares in the last quarter. State Street Corp raised its holdings in Rimini Street by 0.8% during the 3rd quarter. State Street Corp now owns 1,020,639 shares of the company’s stock worth $1,888,000 after buying an additional 8,377 shares during the period. Finally, Dimensional Fund Advisors LP increased its holdings in shares of Rimini Street by 3.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 806,670 shares of the company’s stock valued at $2,477,000 after purchasing an additional 26,694 shares during the period. Institutional investors and hedge funds own 73.75% of the company’s stock.

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.