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 Rimini Street stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $3.48, for a total value of $10,269.48. Following the sale, the chief marketing officer now directly owns 394,479 shares of the company’s stock, valued at $1,372,786.92. This represents a 0.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Rimini Street Stock Performance

Shares of NASDAQ RMNI opened at $3.48 on Thursday. The firm has a market capitalization of $316.40 million, a price-to-earnings ratio of -9.41 and a beta of 1.31. Rimini Street, Inc. has a 52-week low of $1.53 and a 52-week high of $3.80. The stock has a 50 day moving average price of $2.94 and a 200 day moving average price of $2.29.

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

Institutional Trading of Rimini Street

Hedge funds and other institutional investors have recently made changes to their positions in the company. ProShare Advisors LLC boosted its position in Rimini Street by 49.1% in the 4th quarter. ProShare Advisors LLC now owns 14,942 shares of the company’s stock valued at $40,000 after buying an additional 4,918 shares during the period. Squarepoint Ops LLC acquired a new position in Rimini Street in the fourth quarter valued at $40,000. Prudential Financial Inc. boosted its holdings in shares of Rimini Street by 67.0% in the fourth quarter. Prudential Financial Inc. now owns 19,935 shares of the company’s stock valued at $53,000 after acquiring an additional 8,000 shares in the last quarter. Virtu Financial LLC purchased a new stake in shares of Rimini Street in the third quarter valued at about $58,000. Finally, SG Americas Securities LLC boosted its holdings in Rimini Street by 23.2% during the fourth quarter. SG Americas Securities LLC now owns 22,527 shares of the company’s stock worth $60,000 after buying an additional 4,238 shares in the last quarter. Institutional investors and hedge funds own 73.75% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.