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 stock in a transaction that occurred on Friday, December 13th. The shares were 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 of the company’s stock, valued at $978,810.80. This represents a 3.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Rimini Street Trading Up 3.8 %

RMNI stock opened at $2.72 on Wednesday. The firm has a market cap of $247.30 million, a PE ratio of -7.35 and a beta of 1.34. The stock has a 50-day moving average price of $1.94 and a 200-day moving average price of $2.19. 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 earnings results on Wednesday, October 30th. The company reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.15. The business had revenue of $104.67 million during the quarter, compared to the consensus estimate of $99.39 million. Rimini Street had a negative return on equity of 83.26% and a negative net margin of 7.87%. On average, analysts forecast that Rimini Street, Inc. will post 0.37 earnings per share for the current year.

Institutional Trading of Rimini Street

Several hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC grew its holdings in Rimini Street by 60.7% in the third quarter. SG Americas Securities LLC now owns 18,289 shares of the company’s stock worth $34,000 after purchasing an additional 6,905 shares during the period. Virtu Financial LLC acquired a new stake in shares of Rimini Street in the 3rd quarter valued at about $58,000. Lee Danner & Bass Inc. bought a new stake in Rimini Street in the 2nd quarter valued at about $61,000. Byrne Asset Management LLC acquired a new position in Rimini Street during the 2nd quarter worth approximately $62,000. Finally, Ruane Cunniff & Goldfarb L.P. boosted its holdings in Rimini Street by 34.3% in the third 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. Institutional investors own 73.75% of the company’s stock.

Analysts Set New Price Targets

Separately, Craig Hallum upgraded shares of 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 research report 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.