Rimini Street (NASDAQ:RMNI - Get Free Report) posted its earnings results on Thursday. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.10 by ($0.01), Zacks reports. The firm had revenue of $114.21 million during the quarter, compared to the consensus estimate of $102.57 million. Rimini Street had a negative return on equity of 83.26% and a negative net margin of 7.87%.
Rimini Street Price Performance
RMNI stock traded up $0.16 during trading hours on Monday, reaching $3.71. 645,251 shares of the stock were exchanged, compared to its average volume of 284,361. The firm's 50-day moving average is $2.91 and its 200-day moving average is $2.27. Rimini Street has a 12 month low of $1.53 and a 12 month high of $3.80. The company has a market cap of $337.31 million, a price-to-earnings ratio of -10.03 and a beta of 1.31.
Insider Buying and Selling at Rimini Street
In other Rimini Street news, CEO Seth A. Ravin sold 14,375 shares of the stock in a transaction on Friday, December 13th. The shares were sold at an average price of $2.20, for a total value of $31,625.00. Following the completion of the sale, the chief executive officer now owns 444,914 shares in the company, valued at $978,810.80. This trade represents a 3.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders have sold 33,867 shares of company stock worth $83,982. Corporate insiders own 41.00% of the company's stock.
Analyst Upgrades and Downgrades
RMNI has been the topic of a number of research analyst reports. Alliance Global Partners raised shares of Rimini Street from a "neutral" rating to a "buy" rating in a report on Friday. Craig Hallum raised shares of Rimini Street from a "hold" rating to a "buy" rating and upped their target price for the company from $2.00 to $6.00 in a research note on Tuesday, December 17th.
Check Out Our Latest Report on Rimini Street
About Rimini Street
(
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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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