Insider Selling: Rimini Street, Inc. (NASDAQ:RMNI) CMO Sells $24,993.60 in Stock

Rimini Street, Inc. (NASDAQ:RMNI) CMO David W. Rowe sold 7,620 shares of the stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $3.28, for a total transaction of $24,993.60. Following the sale, the chief marketing officer now directly owns 421,627 shares in the company, valued at $1,382,936.56. This trade represents a 1.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Rimini Street Price Performance

RMNI stock opened at $3.34 on Friday. The stock has a market capitalization of $306.56 million, a P/E ratio of -9.03 and a beta of 1.33. Rimini Street, Inc. has a 1-year low of $1.53 and a 1-year high of $4.15. The business has a fifty day moving average price of $3.51 and a 200-day moving average price of $2.88.

Rimini Street (NASDAQ:RMNI) last issued its earnings results on Thursday, February 27th. The company reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates 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%. As a group, analysts anticipate that Rimini Street, Inc. will post 0.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Alliance Global Partners upgraded shares of Rimini Street from a “neutral” rating to a “buy” rating in a report on Friday, February 28th.

Institutional Investors Weigh In On Rimini Street

A number of large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC boosted its stake in shares of Rimini Street by 23.2% in the 4th 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 during the last quarter. Price T Rowe Associates Inc. MD boosted its position in Rimini Street by 6.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 73,906 shares of the company’s stock worth $198,000 after purchasing an additional 4,477 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of Rimini Street by 49.1% during the 4th 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. Ameriprise Financial Inc. increased its position in shares of Rimini Street by 7.9% during the 4th quarter. Ameriprise Financial Inc. now owns 82,772 shares of the company’s stock valued at $221,000 after purchasing an additional 6,056 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in shares of Rimini Street by 27.7% in the 4th quarter. Wells Fargo & Company MN now owns 32,415 shares of the company’s stock worth $87,000 after purchasing an additional 7,023 shares during the period. Institutional investors own 73.75% of the company’s stock.

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.