Michael L. Perica Sells 3,295 Shares of Rimini Street, Inc. (NASDAQ:RMNI) Stock

Rimini Street, Inc. (NASDAQ:RMNI - Get Free Report) CFO Michael L. Perica sold 3,295 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $3.48, for a total value of $11,466.60. Following the completion of the transaction, the chief financial officer now owns 166,462 shares of the company's stock, valued at $579,287.76. This represents a 1.94 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Rimini Street Stock Performance

Shares of RMNI stock traded up $0.09 on Friday, hitting $3.68. The company had a trading volume of 358,313 shares, compared to its average volume of 285,096. The firm has a market cap of $335.97 million, a P/E ratio of -9.95 and a beta of 1.29. The stock's 50-day moving average is $2.99 and its two-hundred day moving average is $2.32. Rimini Street, Inc. has a twelve month low of $1.53 and a twelve month high of $3.80.

Rimini Street (NASDAQ:RMNI - Get Free Report) last released its earnings results on Thursday, February 27th. The company reported $0.09 EPS 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 for the quarter, compared to analyst estimates of $102.57 million. Equities research analysts predict that Rimini Street, Inc. will post 0.37 EPS for the current year.

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Institutional Investors Weigh In On Rimini Street

Large investors have recently added to or reduced their stakes in the business. ProShare Advisors LLC grew its stake in Rimini Street by 49.1% during the fourth quarter. ProShare Advisors LLC now owns 14,942 shares of the company's stock worth $40,000 after purchasing an additional 4,918 shares during the period. Squarepoint Ops LLC acquired a new stake in Rimini Street during the fourth quarter worth approximately $40,000. Prudential Financial Inc. grew its stake 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 purchasing an additional 8,000 shares during the period. Virtu Financial LLC acquired a new stake in Rimini Street during the third quarter worth approximately $58,000. Finally, SG Americas Securities LLC grew its stake in Rimini Street by 23.2% in the fourth quarter. SG Americas Securities LLC now owns 22,527 shares of the company's stock valued at $60,000 after acquiring an additional 4,238 shares during the period. Institutional investors and hedge funds own 73.75% of the company's stock.

Analyst Ratings Changes

RMNI has been the subject of several recent research reports. 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 note on Tuesday, December 17th. Alliance Global Partners raised Rimini Street from a "neutral" rating to a "buy" rating in a research note on Friday, February 28th.

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.