Rimini Street, Inc. (NASDAQ:RMNI) CFO Michael L. Perica Sells 7,837 Shares

Rimini Street, Inc. (NASDAQ:RMNI) CFO Michael L. Perica sold 7,837 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $2.79, for a total transaction of $21,865.23. Following the completion of the sale, the chief financial officer now owns 163,090 shares in the company, valued at $455,021.10. This represents a 4.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Rimini Street Price Performance

Rimini Street stock traded up $0.16 during midday trading on Wednesday, reaching $2.96. 175,813 shares of the company traded hands, compared to its average volume of 251,722. Rimini Street, Inc. has a 12 month low of $1.53 and a 12 month high of $3.36. The firm has a market capitalization of $269.12 million, a price-to-earnings ratio of -8.00 and a beta of 1.31. The business has a 50 day moving average of $2.59 and a two-hundred day moving average of $2.17.

Institutional Investors Weigh In On Rimini Street

Institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC lifted its position in shares of Rimini Street by 23.2% during the fourth quarter. SG Americas Securities LLC now owns 22,527 shares of the company’s stock valued at $60,000 after buying an additional 4,238 shares during the last quarter. State Street Corp grew its holdings in Rimini Street by 0.8% during the third quarter. State Street Corp now owns 1,020,639 shares of the company’s stock worth $1,888,000 after acquiring an additional 8,377 shares during the period. Ruane Cunniff & Goldfarb L.P. boosted its stake in shares of Rimini Street by 34.3% during the 3rd quarter. Ruane Cunniff & Goldfarb L.P. now owns 38,090 shares of the company’s stock worth $70,000 after acquiring an additional 9,719 shares in the last quarter. Los Angeles Capital Management LLC increased its holdings in Rimini Street by 7.4% in the 4th quarter. Los Angeles Capital Management LLC now owns 276,025 shares of the company’s stock worth $737,000 after acquiring an additional 18,906 shares in the last quarter. Finally, Bard Associates Inc. lifted its position in shares of Rimini Street by 7.7% in the third quarter. Bard Associates Inc. now owns 345,257 shares of the company’s stock valued at $639,000 after acquiring an additional 24,757 shares in the last quarter. Institutional investors own 73.75% of the company’s stock.

Analysts Set New Price Targets

Separately, Craig Hallum raised Rimini Street from a “hold” rating to a “buy” rating and increased their target price for the company from $2.00 to $6.00 in a research note on Tuesday, December 17th.

Rimini Street Company Profile

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.