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 business’s stock in a transaction on Friday, December 13th. The stock was sold at an average price of $2.20, for a total transaction of $31,625.00. Following the sale, the chief executive officer now directly owns 444,914 shares in the company, valued at approximately $978,810.80. The trade was a 3.13 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Rimini Street Price Performance

Shares of Rimini Street stock opened at $2.51 on Friday. The firm has a market cap of $228.21 million, a PE ratio of -6.78 and a beta of 1.34. The company has a 50 day simple moving average of $1.99 and a two-hundred day simple moving average of $2.20. Rimini Street, Inc. has a 1 year low of $1.53 and a 1 year high of $3.43.

Rimini Street (NASDAQ:RMNI) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.20 earnings per share for the quarter, beating 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 firm had revenue of $104.67 million during the quarter, compared to the consensus estimate of $99.39 million. As a group, research analysts anticipate that Rimini Street, Inc. will post 0.37 earnings per share for the current year.

Institutional Investors Weigh In On Rimini Street

Several large investors have recently added to or reduced their stakes in RMNI. SG Americas Securities LLC acquired a new position in shares of Rimini Street during the second quarter valued at about $35,000. Byrne Asset Management LLC acquired a new stake in shares of Rimini Street in the second quarter valued at $62,000. Bank of New York Mellon Corp raised its position in Rimini Street by 17.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 307,911 shares of the company’s stock valued at $945,000 after purchasing an additional 46,736 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Rimini Street by 21,886.5% in the 2nd quarter. Allspring Global Investments Holdings LLC now owns 35,838 shares of the company’s stock valued at $110,000 after acquiring an additional 35,675 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC purchased a new stake in shares of Rimini Street in the 2nd quarter valued at about $258,000. 73.75% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Separately, Craig Hallum raised shares of Rimini Street from a “hold” rating to a “buy” rating and raised their price objective for the company from $2.00 to $6.00 in a research note on Tuesday.

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.