Rimini Street (NASDAQ:RMNI) Lowered to “Neutral” at Roth Capital

Roth Capital downgraded shares of Rimini Street (NASDAQ:RMNI) from a buy rating to a neutral rating in a research report sent to investors on Tuesday morning, Price Targets.com reports. They currently have $8.00 target price on the stock, down from their prior target price of $15.00.

Several other equities research analysts have also commented on the stock. Benchmark boosted their price target on shares of Rimini Street from $10.00 to $13.00 and gave the stock a buy rating in a report on Thursday, March 4th. Alliance Global Partners boosted their price target on shares of Rimini Street from $7.50 to $10.00 and gave the stock a buy rating in a report on Tuesday, February 2nd. Craig Hallum boosted their price target on shares of Rimini Street from $6.00 to $11.00 and gave the stock a buy rating in a report on Tuesday, February 2nd. Finally, Zacks Investment Research raised shares of Rimini Street from a strong sell rating to a hold rating in a report on Tuesday, March 9th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $9.70.

RMNI opened at $6.20 on Tuesday. The firm has a fifty day moving average price of $8.25 and a 200 day moving average price of $6.63. Rimini Street has a 1 year low of $3.04 and a 1 year high of $10.72. The stock has a market cap of $528.65 million, a P/E ratio of -23.85, a P/E/G ratio of 1.36 and a beta of 0.76.

Rimini Street (NASDAQ:RMNI) last issued its quarterly earnings results on Tuesday, March 2nd. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.06). The company had revenue of $87.83 million during the quarter, compared to analysts’ expectations of $83.53 million. Rimini Street had a negative return on equity of 9.70% and a negative net margin of 1.32%. Analysts forecast that Rimini Street will post 0.3 earnings per share for the current fiscal year.

In other news, EVP Daniel B. Winslow sold 10,000 shares of the company’s stock in a transaction on Monday, February 22nd. The shares were sold at an average price of $8.06, for a total transaction of $80,600.00. Following the completion of the sale, the executive vice president now owns 21,422 shares of the company’s stock, valued at $172,661.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders have sold 49,094 shares of company stock valued at $390,446 in the last ninety days. Insiders own 61.14% of the company’s stock.

Several hedge funds have recently made changes to their positions in RMNI. Lazard Asset Management LLC acquired a new position in shares of Rimini Street during the 4th quarter valued at about $43,000. HighVista Strategies LLC acquired a new position in shares of Rimini Street during the 4th quarter valued at about $60,000. Financial Management Professionals Inc. acquired a new position in shares of Rimini Street during the 1st quarter valued at about $78,000. Rhumbline Advisers boosted its position in shares of Rimini Street by 9.9% during the 4th quarter. Rhumbline Advisers now owns 18,700 shares of the company’s stock valued at $83,000 after acquiring an additional 1,680 shares during the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of Rimini Street during the 1st quarter valued at about $108,000. 51.19% of the stock is currently owned by hedge funds and other institutional investors.

Rimini Street Company Profile

Rimini Street, Inc provides enterprise software products, services, and support for various industries. The company offers software support services for Oracle and SAP enterprise 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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