Rimini Street Inc (NASDAQ:RMNI) SVP Kevin Maddock sold 16,500 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $4.77, for a total value of $78,705.00.
Shares of RMNI opened at $4.78 on Thursday. Rimini Street Inc has a 52-week low of $4.33 and a 52-week high of $7.46. The business’s fifty day moving average is $4.79 and its 200-day moving average is $5.02. The firm has a market cap of $318.69 million and a price-to-earnings ratio of 36.85.
Rimini Street (NASDAQ:RMNI) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.05). Rimini Street had a negative net margin of 15.41% and a negative return on equity of 8.20%. The business had revenue of $67.96 million during the quarter, compared to the consensus estimate of $67.35 million. On average, equities analysts expect that Rimini Street Inc will post 0.21 earnings per share for the current fiscal year.
Institutional investors and hedge funds have recently modified their holdings of the company. JPMorgan Chase & Co. increased its stake in shares of Rimini Street by 114.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 5,418 shares of the company’s stock valued at $28,000 after purchasing an additional 2,892 shares during the last quarter. Strs Ohio bought a new position in shares of Rimini Street in the 2nd quarter valued at $29,000. SG Americas Securities LLC bought a new position in shares of Rimini Street in the 1st quarter valued at $53,000. Marshall Wace LLP bought a new position in shares of Rimini Street in the 2nd quarter valued at $84,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of Rimini Street in the 2nd quarter valued at $153,000. Institutional investors own 44.70% of the company’s stock.
Separately, Zacks Investment Research upgraded Rimini Street from a “hold” rating to a “buy” rating and set a $5.25 price objective on the stock in a research note on Friday, August 16th.
About Rimini Street
Rimini Street, Inc provides enterprise software products and services for various industries. The company offers third-party support for Oracle and SAP software products. It sells its solutions primarily through direct sales organizations in North America, Latin America, Europe, Africa, the Middle East, Asia, and the Asia-Pacific.
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