Rimini Street, Inc. (NASDAQ:RMNI) CFO Michael L. Perica Sells 3,295 Shares

Rimini Street, Inc. (NASDAQ:RMNI) CFO Michael L. Perica sold 3,295 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $3.48, for a total transaction of $11,466.60. Following the completion of the sale, the chief financial officer now owns 166,462 shares of the company’s stock, valued at approximately $579,287.76. This represents a 1.94 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Rimini Street Price Performance

RMNI opened at $3.48 on Thursday. The company has a market capitalization of $316.40 million, a price-to-earnings ratio of -9.41 and a beta of 1.31. The firm has a 50-day moving average price of $2.94 and a 200-day moving average price of $2.29. Rimini Street, Inc. has a twelve month low of $1.53 and a twelve month high of $3.80.

Rimini Street (NASDAQ:RMNI) last posted its earnings results on Thursday, February 27th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01). The business had revenue of $114.21 million during the quarter, compared to analysts’ expectations of $102.57 million. Rimini Street had a negative return on equity of 83.26% and a negative net margin of 7.87%. On average, sell-side analysts expect that Rimini Street, Inc. will post 0.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rimini Street

Several large investors have recently modified their holdings of the business. Brooktree Capital Management boosted its position in shares of Rimini Street by 14.6% in the third quarter. Brooktree Capital Management now owns 3,509,661 shares of the company’s stock valued at $6,493,000 after acquiring an additional 445,984 shares during the period. Janus Henderson Group PLC bought a new position in shares of Rimini Street in the third quarter valued at approximately $210,000. SG Americas Securities LLC boosted its position in shares of Rimini Street by 23.2% in the fourth quarter. SG Americas Securities LLC now owns 22,527 shares of the company’s stock valued at $60,000 after acquiring an additional 4,238 shares during the period. Cerity Partners LLC boosted its position in shares of Rimini Street by 80.2% in the third quarter. Cerity Partners LLC now owns 306,843 shares of the company’s stock valued at $568,000 after acquiring an additional 136,609 shares during the period. Finally, State Street Corp lifted its position in Rimini Street by 0.8% during the third quarter. State Street Corp now owns 1,020,639 shares of the company’s stock valued at $1,888,000 after purchasing an additional 8,377 shares during the last quarter. Hedge funds and other institutional investors own 73.75% of the company’s stock.

Wall Street Analyst Weigh In

RMNI has been the subject of a number of research analyst reports. Alliance Global Partners upgraded shares of Rimini Street from a “neutral” rating to a “buy” rating in a report on Friday, February 28th. Craig Hallum upgraded shares of Rimini Street from a “hold” rating to a “buy” rating and raised their price objective for the stock from $2.00 to $6.00 in a report 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.