Rimini Street (NASDAQ:RMNI) CMO Sells $10,449.48 in Stock

Rimini Street, Inc. (NASDAQ:RMNI) CMO David Rowe sold 2,809 shares of the company’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $3.72, for a total transaction of $10,449.48. Following the sale, the chief marketing officer directly owned 457,789 shares in the company, valued at $1,702,975.08. This trade represents a 0.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Rimini Street Trading Up 0.5%

Shares of RMNI traded up $0.02 during midday trading on Thursday, reaching $3.71. The stock had a trading volume of 325,872 shares, compared to its average volume of 451,717. The firm has a market cap of $340.06 million, a PE ratio of 9.28 and a beta of 1.28. The firm has a 50 day simple moving average of $3.58 and a 200-day simple moving average of $4.02. Rimini Street, Inc. has a one year low of $2.79 and a one year high of $5.38.

Wall Street Analyst Weigh In

RMNI has been the topic of several research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Rimini Street in a research note on Monday, December 29th. TD Cowen raised Rimini Street to a “hold” rating in a report on Monday, February 23rd. Finally, Wall Street Zen downgraded Rimini Street from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $5.75.

Hedge Funds Weigh In On Rimini Street

Several institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets increased its position in Rimini Street by 96.8% during the third quarter. BNP Paribas Financial Markets now owns 9,944 shares of the company’s stock worth $47,000 after acquiring an additional 4,891 shares during the period. Invesco Ltd. grew its position in shares of Rimini Street by 37.2% during the 4th quarter. Invesco Ltd. now owns 22,105 shares of the company’s stock worth $86,000 after purchasing an additional 5,998 shares in the last quarter. Quarry LP bought a new position in shares of Rimini Street during the third quarter worth approximately $31,000. Barclays PLC increased its holdings in shares of Rimini Street by 10.6% during the fourth quarter. Barclays PLC now owns 75,893 shares of the company’s stock worth $294,000 after purchasing an additional 7,271 shares during the period. Finally, Occudo Quantitative Strategies LP raised its position in shares of Rimini Street by 32.5% in the second quarter. Occudo Quantitative Strategies LP now owns 32,596 shares of the company’s stock valued at $123,000 after buying an additional 7,998 shares in the last quarter. 73.75% of the stock is currently owned by institutional investors and hedge funds.

About Rimini Street

Rimini Street, Inc (NASDAQ: RMNI) is a provider of enterprise software support services, specializing in third-party maintenance for mission-critical applications from leading technology vendors. The company offers comprehensive support for ERP, CRM and database environments, with coverage for systems from providers such as Oracle and SAP. Through its proactive system monitoring, performance tuning, regulatory and tax update services, Rimini Street aims to extend the lifecycle of enterprise applications while delivering service levels comparable to or exceeding those of original software vendors.

Founded in 2005 by technology entrepreneur Seth Ravin, Rimini Street has grown from a startup into a publicly traded company following its initial public offering in March 2018.