Rimini Street, Inc. (NASDAQ:RMNI) Receives Average Rating of “Moderate Buy” from Analysts

Rimini Street, Inc. (NASDAQ:RMNI) has earned a consensus rating of “Moderate Buy” from the six research firms that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $5.8333.

RMNI has been the subject of a number of analyst reports. TD Cowen reduced their target price on shares of Rimini Street from $6.00 to $5.00 and set a “hold” rating for the company in a research note on Friday, October 31st. Cowen reaffirmed a “hold” rating on shares of Rimini Street in a report on Friday, October 31st. Wall Street Zen downgraded Rimini Street from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Rimini Street in a report on Wednesday, November 19th.

Rimini Street Stock Performance

Shares of RMNI opened at $3.83 on Tuesday. The firm has a fifty day moving average of $4.28 and a 200-day moving average of $4.11. The company has a market cap of $350.94 million, a price-to-earnings ratio of 8.32 and a beta of 1.37. Rimini Street has a 1 year low of $1.95 and a 1 year high of $5.38.

Insider Activity

In other news, CFO Michael L. Perica sold 100,249 shares of the firm’s stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $4.20, for a total transaction of $421,045.80. Following the transaction, the chief financial officer directly owned 146,032 shares of the company’s stock, valued at approximately $613,334.40. This trade represents a 40.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 207,817 shares of company stock valued at $874,091 over the last ninety days. Corporate insiders own 41.20% of the company’s stock.

Hedge Funds Weigh In On Rimini Street

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio raised its position in shares of Rimini Street by 899.4% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 23,446 shares of the company’s stock worth $88,000 after buying an additional 21,100 shares in the last quarter. Nuveen LLC bought a new position in shares of Rimini Street in the first quarter valued at approximately $473,000. Informed Momentum Co LLC acquired a new position in shares of Rimini Street during the first quarter valued at approximately $718,000. Samjo Management LLC acquired a new position in shares of Rimini Street during the first quarter valued at approximately $696,000. Finally, Boston Partners bought a new stake in Rimini Street during the first quarter worth approximately $883,000. Institutional investors own 73.75% of the company’s stock.

About Rimini Street

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.