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

Rimini Street, Inc. (NASDAQ:RMNI) CFO Michael L. Perica sold 3,295 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $3.48, for a total transaction 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 approximately $579,287.76. This trade represents a 1.94 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Rimini Street Price Performance

Shares of NASDAQ RMNI opened at $3.48 on Thursday. The firm has a market cap of $316.40 million, a PE ratio of -9.41 and a beta of 1.31. Rimini Street, Inc. has a 12-month low of $1.53 and a 12-month high of $3.80. The company’s fifty day simple moving average is $2.94 and its 200 day simple moving average is $2.29.

Rimini Street (NASDAQ:RMNI) last issued its earnings results on Thursday, February 27th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.01). The company had revenue of $114.21 million for 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%. On average, equities analysts predict that Rimini Street, Inc. will post 0.37 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Brooktree Capital Management lifted its stake in shares of Rimini Street by 14.6% in the third quarter. Brooktree Capital Management now owns 3,509,661 shares of the company’s stock valued at $6,493,000 after buying an additional 445,984 shares in the last quarter. Pacific Ridge Capital Partners LLC lifted its stake in shares of Rimini Street by 33.8% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 1,545,671 shares of the company’s stock valued at $4,127,000 after buying an additional 390,131 shares in the last quarter. Millennium Management LLC bought a new position in shares of Rimini Street in the fourth quarter valued at $799,000. Formula Growth Ltd. bought a new position in shares of Rimini Street in the fourth quarter valued at $587,000. Finally, Connor Clark & Lunn Investment Management Ltd. lifted its stake in shares of Rimini Street by 28.9% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 667,673 shares of the company’s stock valued at $1,783,000 after buying an additional 149,659 shares in the last quarter. 73.75% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on RMNI shares. Alliance Global Partners upgraded shares of Rimini Street from a “neutral” rating to a “buy” rating in a research report on Friday, February 28th. Craig Hallum raised shares of Rimini Street from a “hold” rating to a “buy” rating and upped their price objective for the company from $2.00 to $6.00 in a research note on Tuesday, December 17th.

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.