Rimini Street, Inc. (NASDAQ:RMNI) CMO David W. Rowe Sells 2,951 Shares

Rimini Street, Inc. (NASDAQ:RMNI - Get Free Report) CMO David W. Rowe sold 2,951 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $3.48, for a total value of $10,269.48. Following the completion of the sale, the chief marketing officer now directly owns 394,479 shares of the company's stock, valued at $1,372,786.92. The trade was a 0.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Rimini Street Stock Up 2.5 %

RMNI stock traded up $0.09 during midday trading on Friday, hitting $3.68. The company's stock had a trading volume of 358,313 shares, compared to its average volume of 285,096. The stock's 50-day moving average price is $2.99 and its 200 day moving average price is $2.32. Rimini Street, Inc. has a 1 year low of $1.53 and a 1 year high of $3.80. The stock has a market cap of $335.97 million, a price-to-earnings ratio of -9.95 and a beta of 1.29.

Rimini Street (NASDAQ:RMNI - Get Free Report) last posted its quarterly earnings data on Thursday, February 27th. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01). Rimini Street had a negative return on equity of 83.26% and a negative net margin of 7.87%. The business had revenue of $114.21 million during the quarter, compared to analysts' expectations of $102.57 million. As a group, equities analysts forecast that Rimini Street, Inc. will post 0.37 earnings per share for the current fiscal year.

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Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Mackenzie Financial Corp lifted its position in shares of Rimini Street by 432.4% during the 4th quarter. Mackenzie Financial Corp now owns 152,660 shares of the company's stock valued at $408,000 after buying an additional 123,984 shares during the last quarter. Squarepoint Ops LLC purchased a new position in shares of Rimini Street during the 4th quarter valued at $40,000. Two Sigma Advisers LP lifted its position in shares of Rimini Street by 64.5% during the 4th quarter. Two Sigma Advisers LP now owns 63,500 shares of the company's stock valued at $170,000 after buying an additional 24,900 shares during the last quarter. Two Sigma Investments LP lifted its position in shares of Rimini Street by 154.3% during the 4th quarter. Two Sigma Investments LP now owns 88,776 shares of the company's stock valued at $237,000 after buying an additional 53,866 shares during the last quarter. Finally, ProShare Advisors LLC lifted its position in shares of Rimini Street by 49.1% during the 4th quarter. ProShare Advisors LLC now owns 14,942 shares of the company's stock valued at $40,000 after buying an additional 4,918 shares during the last quarter. Hedge funds and other institutional investors own 73.75% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Craig Hallum raised Rimini Street from a "hold" rating to a "buy" rating and increased their price target for the company from $2.00 to $6.00 in a research report on Tuesday, December 17th. Alliance Global Partners upgraded Rimini Street from a "neutral" rating to a "buy" rating in a report 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.