Rimini Street, Inc. (NASDAQ:RMNI - Get Free Report) CEO Seth A. Ravin sold 14,375 shares of the stock in a transaction that occurred on Friday, December 13th. The stock was sold at an average price of $2.20, for a total transaction of $31,625.00. Following the sale, the chief executive officer now directly owns 444,914 shares of the company's stock, valued at approximately $978,810.80. This trade represents a 3.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.
Rimini Street Stock Performance
NASDAQ:RMNI traded up $0.10 during trading hours on Tuesday, hitting $2.72. The stock had a trading volume of 1,783,975 shares, compared to its average volume of 276,005. The company has a market cap of $247.30 million, a price-to-earnings ratio of -7.35 and a beta of 1.34. The business's 50 day moving average is $1.94 and its 200-day moving average is $2.19. Rimini Street, Inc. has a one year low of $1.53 and a one year high of $3.43.
Rimini Street (NASDAQ:RMNI - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.20 EPS for the quarter, topping analysts' consensus estimates of $0.05 by $0.15. The company had revenue of $104.67 million for the quarter, compared to analysts' expectations of $99.39 million. Rimini Street had a negative return on equity of 83.26% and a negative net margin of 7.87%. On average, sell-side analysts anticipate that Rimini Street, Inc. will post 0.37 EPS for the current fiscal year.
Institutional Trading of Rimini Street
A number of large investors have recently modified their holdings of the business. SG Americas Securities LLC increased its stake in shares of Rimini Street by 60.7% in the 3rd quarter. SG Americas Securities LLC now owns 18,289 shares of the company's stock worth $34,000 after acquiring an additional 6,905 shares in the last quarter. State Street Corp raised its position in shares of Rimini Street by 0.8% during the third quarter. State Street Corp now owns 1,020,639 shares of the company's stock valued at $1,888,000 after buying an additional 8,377 shares during the last quarter. Ruane Cunniff & Goldfarb L.P. grew its position in Rimini Street by 34.3% in the third quarter. Ruane Cunniff & Goldfarb L.P. now owns 38,090 shares of the company's stock worth $70,000 after acquiring an additional 9,719 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Rimini Street by 3.5% during the second quarter. Massachusetts Financial Services Co. MA now owns 301,607 shares of the company's stock valued at $926,000 after buying an additional 10,105 shares during the period. Finally, Rhumbline Advisers lifted its holdings in shares of Rimini Street by 18.5% in the 2nd quarter. Rhumbline Advisers now owns 95,661 shares of the company's stock worth $294,000 after buying an additional 14,917 shares during the period. Institutional investors own 73.75% of the company's stock.
Wall Street Analyst Weigh In
Separately, Craig Hallum raised Rimini Street from a "hold" rating to a "buy" rating and upped their price target for the company from $2.00 to $6.00 in a report on Tuesday.
View Our Latest Analysis on Rimini Street
About Rimini Street
(
Get Free Report)
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.
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