Rimini Street, Inc. (NASDAQ:RMNI - Get Free Report) saw a significant drop in short interest in December. As of December 31st, there was short interest totalling 950,800 shares, a drop of 28.0% from the December 15th total of 1,320,000 shares. Approximately 2.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 367,800 shares, the short-interest ratio is presently 2.6 days.
Rimini Street Price Performance
NASDAQ:RMNI traded down $0.01 during trading hours on Friday, reaching $2.82. 210,568 shares of the company traded hands, compared to its average volume of 496,584. Rimini Street has a 1-year low of $1.53 and a 1-year high of $3.43. The stock has a market cap of $256.39 million, a P/E ratio of -7.62 and a beta of 1.28. The firm's 50-day moving average is $2.36 and its 200-day moving average is $2.17.
Rimini Street (NASDAQ:RMNI - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.20 EPS for the quarter, topping analysts' consensus estimates of $0.05 by $0.15. The firm had revenue of $104.67 million during 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%. As a group, research analysts predict that Rimini Street will post 0.37 earnings per share for the current year.
Analyst Ratings Changes
Separately, Craig Hallum upgraded shares of Rimini Street from a "hold" rating to a "buy" rating and raised their target price for the company from $2.00 to $6.00 in a report on Tuesday, December 17th.
View Our Latest Analysis on Rimini Street
Insider Buying and Selling at Rimini Street
In other Rimini Street news, CEO Seth A. Ravin sold 14,375 shares of the company's stock in a transaction on Friday, December 13th. The stock was sold at an average price of $2.20, for a total value of $31,625.00. Following the sale, the chief executive officer now owns 444,914 shares of the company's stock, valued at approximately $978,810.80. This represents a 3.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 41.00% of the stock is currently owned by corporate insiders.
Institutional Trading of Rimini Street
Several hedge funds and other institutional investors have recently bought and sold shares of RMNI. Brooktree Capital Management boosted its holdings in shares of Rimini Street by 14.6% during the third quarter. Brooktree Capital Management now owns 3,509,661 shares of the company's stock worth $6,493,000 after purchasing an additional 445,984 shares during the last quarter. Janus Henderson Group PLC acquired a new stake in Rimini Street in the 3rd quarter worth about $210,000. Cerity Partners LLC grew its holdings in Rimini Street by 80.2% in the 3rd quarter. Cerity Partners LLC now owns 306,843 shares of the company's stock valued at $568,000 after buying an additional 136,609 shares during the period. State Street Corp increased its stake in shares of Rimini Street by 0.8% during the 3rd quarter. State Street Corp now owns 1,020,639 shares of the company's stock valued at $1,888,000 after acquiring an additional 8,377 shares during the last quarter. Finally, Barclays PLC lifted its holdings in shares of Rimini Street by 281.6% during the 3rd quarter. Barclays PLC now owns 70,291 shares of the company's stock worth $130,000 after acquiring an additional 51,870 shares during the period. 73.75% of the stock is owned by hedge funds and other institutional investors.
Rimini Street Company Profile
(
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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