Michael Perica Sells 24,879 Shares of Rimini Street (NASDAQ:RMNI) Stock

Rimini Street, Inc. (NASDAQ:RMNI) CFO Michael Perica sold 24,879 shares of the business’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $3.64, for a total transaction of $90,559.56. Following the completion of the sale, the chief financial officer directly owned 117,655 shares of the company’s stock, valued at $428,264.20. This represents a 17.45% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Rimini Street Stock Down 2.4%

Shares of RMNI traded down $0.09 during mid-day trading on Friday, hitting $3.62. 457,035 shares of the company’s stock were exchanged, compared to its average volume of 453,446. Rimini Street, Inc. has a 52 week low of $2.79 and a 52 week high of $5.38. The stock’s 50-day simple moving average is $3.57 and its 200-day simple moving average is $4.02. The firm has a market cap of $331.81 million, a price-to-earnings ratio of 9.05 and a beta of 1.28.

Analysts Set New Price Targets

Several analysts have recently issued reports on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Rimini Street in a report on Monday, December 29th. Wall Street Zen cut shares of Rimini Street from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, TD Cowen upgraded shares of Rimini Street to a “hold” rating in a research note on Monday, February 23rd. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $5.75.

Key Headlines 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

Institutional Trading of Rimini Street

Several large investors have recently bought and sold shares of RMNI. Boston Partners raised its stake in Rimini Street by 37.1% during the second quarter. Boston Partners now owns 347,915 shares of the company’s stock worth $1,312,000 after acquiring an additional 94,160 shares in the last quarter. Voss Capital LP bought a new stake in shares of Rimini Street during the 2nd quarter valued at approximately $942,000. Brooktree Capital Management grew its holdings in shares of Rimini Street by 0.4% during the 2nd quarter. Brooktree Capital Management now owns 3,902,223 shares of the company’s stock valued at $14,711,000 after purchasing an additional 15,770 shares during the last quarter. Samjo Management LLC increased its position in Rimini Street by 142.5% during the 2nd quarter. Samjo Management LLC now owns 485,000 shares of the company’s stock worth $1,828,000 after purchasing an additional 285,000 shares in the last quarter. Finally, Formula Growth Ltd. bought a new position in Rimini Street in the 2nd quarter valued at approximately $754,000. 73.75% of the stock is owned by institutional investors and hedge funds.

Rimini Street Company Profile

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.