David W. Rowe Sells 7,620 Shares of Rimini Street, Inc. (NASDAQ:RMNI) Stock

Rimini Street, Inc. (NASDAQ:RMNI) CMO David W. Rowe sold 7,620 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $3.28, for a total value of $24,993.60. Following the transaction, the chief marketing officer now owns 421,627 shares in the company, valued at $1,382,936.56. The trade was a 1.78 % 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 Price Performance

Shares of Rimini Street stock opened at $3.36 on Friday. The business has a 50-day simple moving average of $3.52 and a 200 day simple moving average of $2.86. The firm has a market capitalization of $308.40 million, a price-to-earnings ratio of -9.08 and a beta of 1.33. Rimini Street, Inc. has a one year low of $1.53 and a one year high of $4.15.

Rimini Street (NASDAQ:RMNI) last issued its earnings results on Thursday, February 27th. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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%. On average, sell-side analysts expect that Rimini Street, Inc. will post 0.37 EPS for the current year.

Institutional Investors Weigh In On Rimini Street

Several hedge funds and other institutional investors have recently made changes to their positions in the business. ProShare Advisors LLC lifted its position in Rimini Street by 49.1% in the 4th quarter. ProShare Advisors LLC now owns 14,942 shares of the company’s stock valued at $40,000 after acquiring an additional 4,918 shares in the last quarter. Squarepoint Ops LLC bought a new position in shares of Rimini Street in the fourth quarter valued at approximately $40,000. Financial Management Professionals Inc. purchased a new position in shares of Rimini Street during the first quarter valued at approximately $44,000. Prudential Financial Inc. grew its holdings in 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 buying an additional 8,000 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in Rimini Street in the 3rd quarter valued at $58,000. 73.75% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Rimini Street Company Profile

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.