Rimini Street, Inc. (NASDAQ:RMNI) CFO Michael L. Perica Sells 7,837 Shares

Rimini Street, Inc. (NASDAQ:RMNI - Get Free Report) CFO Michael L. Perica sold 7,837 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $2.79, for a total value of $21,865.23. Following the transaction, the chief financial officer now directly owns 163,090 shares of the company's stock, valued at approximately $455,021.10. This represents a 4.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Rimini Street Price Performance

Rimini Street stock traded up $0.16 during midday trading on Wednesday, hitting $2.96. 175,813 shares of the company were exchanged, compared to its average volume of 251,722. The company has a market cap of $269.12 million, a PE ratio of -8.00 and a beta of 1.31. Rimini Street, Inc. has a fifty-two week low of $1.53 and a fifty-two week high of $3.36. The company's fifty day moving average price is $2.59 and its 200-day moving average price is $2.17.

Analysts Set New Price Targets

Separately, Craig Hallum upgraded Rimini Street from a "hold" rating to a "buy" rating and upped their price target for the stock from $2.00 to $6.00 in a research note on Tuesday, December 17th.

Institutional Trading of Rimini Street

A number of institutional investors and hedge funds have recently modified their holdings of the business. Los Angeles Capital Management LLC lifted its stake in shares of Rimini Street by 7.4% in the 4th quarter. Los Angeles Capital Management LLC now owns 276,025 shares of the company's stock worth $737,000 after acquiring an additional 18,906 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Rimini Street by 20.0% during the fourth quarter. Bank of New York Mellon Corp now owns 278,619 shares of the company's stock worth $744,000 after acquiring an additional 46,511 shares in the last quarter. SG Americas Securities LLC lifted its position in shares of Rimini Street by 23.2% in the fourth quarter. SG Americas Securities LLC now owns 22,527 shares of the company's stock worth $60,000 after buying an additional 4,238 shares during the last quarter. JPMorgan Chase & Co. lifted its position in Rimini Street by 38.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 99,602 shares of the company's stock worth $184,000 after acquiring an additional 27,451 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in Rimini Street in the 3rd quarter worth $58,000. 73.75% of the stock is owned by institutional investors and hedge funds.

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.

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