Rimini Street, Inc. (NASDAQ:RMNI - Get Free Report) CEO Seth A. Ravin sold 14,375 shares of Rimini Street stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $2.20, for a total transaction of $31,625.00. Following the transaction, the chief executive officer now owns 444,914 shares of the company's stock, valued at $978,810.80. This represents a 3.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Rimini Street Stock Up 3.8 %
Shares of NASDAQ:RMNI opened at $2.72 on Wednesday. The business's 50 day moving average is $1.94 and its 200 day moving average is $2.19. Rimini Street, Inc. has a 12-month low of $1.53 and a 12-month high of $3.43. The stock has a market cap of $247.30 million, a price-to-earnings ratio of -7.35 and a beta of 1.34.
Rimini Street (NASDAQ:RMNI - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.15. Rimini Street had a negative return on equity of 83.26% and a negative net margin of 7.87%. The business had revenue of $104.67 million for the quarter, compared to analysts' expectations of $99.39 million. As a group, equities research analysts expect that Rimini Street, Inc. will post 0.37 earnings per share for the current year.
Institutional Inflows and Outflows
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Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Brooktree Capital Management increased its stake in Rimini Street by 14.6% in the 3rd quarter. Brooktree Capital Management now owns 3,509,661 shares of the company's stock valued at $6,493,000 after buying an additional 445,984 shares during the last quarter. Acadian Asset Management LLC increased its position in shares of Rimini Street by 1.9% during the second quarter. Acadian Asset Management LLC now owns 2,220,161 shares of the company's stock valued at $6,813,000 after acquiring an additional 41,139 shares during the last quarter. Diamond Hill Capital Management Inc. lifted its holdings in Rimini Street by 2.3% during the second quarter. Diamond Hill Capital Management Inc. now owns 2,007,515 shares of the company's stock worth $6,163,000 after acquiring an additional 44,401 shares during the period. State Street Corp boosted its position in Rimini Street by 0.8% in the third quarter. State Street Corp now owns 1,020,639 shares of the company's stock worth $1,888,000 after purchasing an additional 8,377 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Rimini Street by 3.4% in the 2nd quarter. Dimensional Fund Advisors LP now owns 806,670 shares of the company's stock valued at $2,477,000 after purchasing an additional 26,694 shares during the period. 73.75% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Separately, Craig Hallum raised shares of Rimini Street from a "hold" rating to a "buy" rating and raised their price target for the company from $2.00 to $6.00 in a research report on Tuesday.
Get Our Latest Stock Analysis on RMNI
Rimini Street Company Profile
(
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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.
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