Insider Selling: Rimini Street, Inc. (NASDAQ:RMNI) Major Shareholder Sells 81,232 Shares of Stock

Rimini Street, Inc. (NASDAQ:RMNI) major shareholder Gpiac, Llc sold 81,232 shares of the firm’s stock in a transaction dated Tuesday, August 24th. The shares were sold at an average price of $9.02, for a total value of $732,712.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Gpiac, Llc also recently made the following trade(s):

  • On Friday, September 10th, Gpiac, Llc sold 541,547 shares of Rimini Street stock. The stock was sold at an average price of $9.75, for a total value of $5,280,083.25.
  • On Wednesday, September 8th, Gpiac, Llc sold 1,137,249 shares of Rimini Street stock. The stock was sold at an average price of $9.92, for a total value of $11,281,510.08.
  • On Friday, August 27th, Gpiac, Llc sold 81,232 shares of Rimini Street stock. The stock was sold at an average price of $9.33, for a total value of $757,894.56.
  • On Thursday, August 5th, Gpiac, Llc sold 332,185 shares of Rimini Street stock. The stock was sold at an average price of $8.22, for a total value of $2,730,560.70.

RMNI stock opened at $9.62 on Wednesday. The business has a 50 day moving average price of $8.54 and a two-hundred day moving average price of $7.91. The company has a market cap of $825.05 million, a price-to-earnings ratio of -34.36, a P/E/G ratio of 2.77 and a beta of 0.64. Rimini Street, Inc. has a twelve month low of $3.04 and a twelve month high of $10.72.

Rimini Street (NASDAQ:RMNI) last posted its quarterly earnings results on Wednesday, August 4th. The company reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.08 by ($0.15). The company had revenue of $91.61 million during the quarter, compared to the consensus estimate of $89.77 million. Rimini Street had a negative net margin of 4.14% and a negative return on equity of 5.82%. On average, equities analysts forecast that Rimini Street, Inc. will post 0.35 EPS for the current fiscal year.

A number of research firms have recently commented on RMNI. Zacks Investment Research raised Rimini Street from a “sell” rating to a “hold” rating in a research report on Saturday, August 21st. Cowen reissued a “buy” rating and issued a $13.50 target price on shares of Rimini Street in a research report on Friday, July 9th. Finally, Alliance Global Partners dropped their target price on Rimini Street from $12.00 to $10.00 and set a “buy” rating on the stock in a research report on Thursday, August 5th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Rimini Street has a consensus rating of “Buy” and an average price target of $11.10.

Hedge funds have recently bought and sold shares of the business. Legal & General Group Plc grew its stake in Rimini Street by 92.9% in the second quarter. Legal & General Group Plc now owns 4,626 shares of the company’s stock valued at $28,000 after purchasing an additional 2,228 shares in the last quarter. Meeder Asset Management Inc. grew its stake in Rimini Street by 143.4% in the second quarter. Meeder Asset Management Inc. now owns 5,221 shares of the company’s stock valued at $32,000 after purchasing an additional 3,076 shares in the last quarter. Royal Bank of Canada grew its stake in Rimini Street by 21.9% in the second quarter. Royal Bank of Canada now owns 9,002 shares of the company’s stock valued at $55,000 after purchasing an additional 1,618 shares in the last quarter. ProShare Advisors LLC bought a new position in Rimini Street in the second quarter valued at approximately $70,000. Finally, UBS Asset Management Americas Inc. bought a new position in shares of Rimini Street during the 2nd quarter worth approximately $79,000. Hedge funds and other institutional investors own 58.91% of the company’s stock.

About Rimini Street

Rimini Street, Inc engages in the provision of enterprise software support products and services. It offers global tax, legal, and regulatory update, security support, proactive support, advanced technology, license advisory and onboarding and archiving services. The company was founded by Seth A. Ravin and Thomas C.

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Insider Buying and Selling by Quarter for Rimini Street (NASDAQ:RMNI)

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