Steven Hershkowitz Sells 5,193 Shares of Rimini Street (NASDAQ:RMNI) Stock

Rimini Street, Inc. (NASDAQ:RMNI) EVP Steven Hershkowitz sold 5,193 shares of the company’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $3.64, for a total value of $18,902.52. Following the completion of the transaction, the executive vice president owned 107,953 shares of the company’s stock, valued at $392,948.92. The trade was a 4.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Rimini Street Trading Down 2.4%

Shares of Rimini Street stock opened at $3.62 on Friday. The firm has a market capitalization of $331.81 million, a PE ratio of 9.05 and a beta of 1.28. Rimini Street, Inc. has a 12 month low of $2.79 and a 12 month high of $5.38. The business’s 50-day moving average price is $3.57 and its 200-day moving average price is $4.02.

Wall Street Analyst Weigh In

Several research analysts have commented on RMNI shares. TD Cowen raised shares of Rimini Street to a “hold” rating in a research note on Monday, February 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Rimini Street in a research note on Monday, December 29th. Finally, Wall Street Zen lowered shares of Rimini Street from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.75.

Institutional Trading of Rimini Street

Institutional investors have recently modified their holdings of the company. Invesco Ltd. grew its stake in shares of Rimini Street by 37.2% in the fourth quarter. Invesco Ltd. now owns 22,105 shares of the company’s stock worth $86,000 after purchasing an additional 5,998 shares during the last quarter. nVerses Capital LLC bought a new position in Rimini Street during the 4th quarter valued at approximately $57,000. Oxford Asset Management LLP bought a new position in Rimini Street during the 4th quarter valued at approximately $127,000. Millennium Management LLC lifted its holdings in Rimini Street by 49.0% in the 4th quarter. Millennium Management LLC now owns 70,834 shares of the company’s stock worth $275,000 after buying an additional 23,286 shares during the period. Finally, Manatuck Hill Partners LLC lifted its holdings in Rimini Street by 5.7% in the 4th quarter. Manatuck Hill Partners LLC now owns 639,115 shares of the company’s stock worth $2,480,000 after buying an additional 34,475 shares during the period. 73.75% of the stock is currently owned by hedge funds and other institutional investors.

Key Stories Impacting Rimini Street

Here are the key news stories impacting Rimini Street this week:

• Positive Sentiment: Institutional investors have been adding to positions (Invesco, BNP Paribas, Barclays and others increased stakes), and institutions now own ~73.8% of the stock — a supportive sign of professional interest that can limit downside. MarketBeat Institutional & Insider Summary
• Neutral Sentiment: Analysts show a consensus “Hold” with a target around $5.75 (one Buy, two Holds). Valuation metrics (PE ~9, market cap ~ $330M) may attract value-oriented buyers, but the stock sits below its 200-day moving average, which mutes near-term bullish conviction. MarketBeat Analyst Coverage
• Negative Sentiment: Several senior insiders sold small blocks of shares on Mar 3 — CEO Seth Ravin (3,080 shares), CMO David Rowe (2,809), CFO Michael Perica (3,140) and other EVPs — each sale worth roughly $8–12k (at ~$3.72). Though the reductions are small percentage-wise (sub-4% for any single insider), clustered insider selling often pressures sentiment and can trigger short-term selling by other holders. InsiderTrades: Insider Selling Alert

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.