Rimini Street, Inc. (NASDAQ:RMNI) CEO Sells $201,037.76 in Stock

Rimini Street, Inc. (NASDAQ:RMNI) CEO Seth A. Ravin sold 61,292 shares of the company’s stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $3.28, for a total value of $201,037.76. Following the sale, the chief executive officer now owns 652,696 shares in the company, valued at approximately $2,140,842.88. This trade represents a 8.58 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Rimini Street Trading Down 0.6 %

Rimini Street stock opened at $3.34 on Friday. The firm has a market capitalization of $306.56 million, a PE ratio of -9.03 and a beta of 1.33. Rimini Street, Inc. has a 12-month low of $1.53 and a 12-month high of $4.15. The firm has a 50-day moving average price of $3.51 and a 200-day moving average price of $2.88.

Rimini Street (NASDAQ:RMNI) last announced its quarterly earnings data on Thursday, February 27th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.01). The firm had revenue of $114.21 million during the quarter, compared to the consensus estimate 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, sell-side analysts predict that Rimini Street, Inc. will post 0.37 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Rimini Street

Several hedge funds have recently bought and sold shares of RMNI. ProShare Advisors LLC lifted its position in shares of Rimini Street by 49.1% during the fourth quarter. ProShare Advisors LLC now owns 14,942 shares of the company’s stock worth $40,000 after purchasing an additional 4,918 shares during the last quarter. Squarepoint Ops LLC purchased a new stake in Rimini Street in the 4th quarter valued at about $40,000. Financial Management Professionals Inc. bought a new position in Rimini Street in the 1st quarter worth about $44,000. Prudential Financial Inc. increased its position in shares of Rimini Street by 67.0% during the fourth quarter. Prudential Financial Inc. now owns 19,935 shares of the company’s stock worth $53,000 after acquiring an additional 8,000 shares during the period. Finally, Virtu Financial LLC bought a new stake in shares of Rimini Street during the third quarter valued at approximately $58,000. 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.