Rimini Street, Inc. (NASDAQ:RMNI) CMO David W. Rowe Sells 2,951 Shares

Rimini Street, Inc. (NASDAQ:RMNI) CMO David W. Rowe sold 2,951 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $3.48, for a total transaction of $10,269.48. Following the sale, the chief marketing officer now owns 394,479 shares of the company’s stock, valued at approximately $1,372,786.92. This represents a 0.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Rimini Street Stock Performance

RMNI opened at $3.48 on Thursday. Rimini Street, Inc. has a 52 week low of $1.53 and a 52 week high of $3.80. The firm has a market capitalization of $316.40 million, a PE ratio of -9.41 and a beta of 1.31. The company has a fifty day moving average price of $2.94 and a two-hundred day moving average price of $2.29.

Rimini Street (NASDAQ:RMNI) last announced its earnings results on Thursday, February 27th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.01). The business had revenue of $114.21 million for the quarter, compared to analyst estimates of $102.57 million. Rimini Street had a negative return on equity of 83.26% and a negative net margin of 7.87%. Equities analysts forecast that Rimini Street, Inc. will post 0.37 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on RMNI. Alliance Global Partners upgraded shares of Rimini Street from a “neutral” rating to a “buy” rating in a research note on Friday, February 28th. Craig Hallum upgraded Rimini Street from a “hold” rating to a “buy” rating and increased their price objective for the stock from $2.00 to $6.00 in a report on Tuesday, December 17th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. ProShare Advisors LLC raised its position in shares of Rimini Street by 49.1% in the fourth quarter. ProShare Advisors LLC now owns 14,942 shares of the company’s stock valued at $40,000 after purchasing an additional 4,918 shares during the period. Squarepoint Ops LLC bought a new stake in Rimini Street during the 4th quarter valued at $40,000. Prudential Financial Inc. raised its holdings in Rimini Street by 67.0% in the 4th quarter. Prudential Financial Inc. now owns 19,935 shares of the company’s stock worth $53,000 after purchasing an additional 8,000 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Rimini Street in the 3rd quarter worth about $58,000. Finally, SG Americas Securities LLC grew its position in Rimini Street by 23.2% during the 4th quarter. SG Americas Securities LLC now owns 22,527 shares of the company’s stock valued at $60,000 after purchasing an additional 4,238 shares during the last quarter. 73.75% of the stock is currently owned by institutional investors and hedge funds.

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.