Rimini Street (NASDAQ:RMNI) CFO Michael Perica Sells 3,140 Shares of Stock

Rimini Street, Inc. (NASDAQ:RMNI) CFO Michael Perica sold 3,140 shares of Rimini Street stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $3.72, for a total value of $11,680.80. Following the completion of the sale, the chief financial officer owned 95,677 shares in the company, valued at $355,918.44. This represents a 3.18% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Rimini Street Trading Down 3.5%

NASDAQ RMNI traded down $0.13 during trading hours on Friday, reaching $3.58. The company had a trading volume of 197,675 shares, compared to its average volume of 365,487. Rimini Street, Inc. has a 1-year low of $2.79 and a 1-year high of $5.38. The stock has a market capitalization of $328.14 million, a P/E ratio of 8.95 and a beta of 1.28. The stock has a 50-day moving average of $3.58 and a 200 day moving average of $4.02.

Institutional Trading of Rimini Street

Institutional investors have recently bought and sold shares of the business. Brooktree Capital Management increased its holdings in shares of Rimini Street by 0.4% in the 2nd quarter. Brooktree Capital Management now owns 3,902,223 shares of the company’s stock valued at $14,711,000 after acquiring an additional 15,770 shares during the last quarter. Pacific Ridge Capital Partners LLC increased its stake in Rimini Street by 9.4% in the fourth quarter. Pacific Ridge Capital Partners LLC now owns 1,857,512 shares of the company’s stock valued at $7,207,000 after purchasing an additional 159,673 shares during the last quarter. Mink Brook Asset Management LLC increased its stake in Rimini Street by 73.4% in the fourth quarter. Mink Brook Asset Management LLC now owns 1,299,741 shares of the company’s stock valued at $5,043,000 after purchasing an additional 550,167 shares during the last quarter. Geode Capital Management LLC raised its holdings in Rimini Street by 1.5% during the second quarter. Geode Capital Management LLC now owns 1,234,075 shares of the company’s stock worth $4,653,000 after purchasing an additional 18,808 shares in the last quarter. Finally, Samjo Management LLC lifted its position in shares of Rimini Street by 149.0% during the 4th quarter. Samjo Management LLC now owns 1,207,750 shares of the company’s stock worth $4,686,000 after buying an additional 722,750 shares during the last quarter. 73.75% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RMNI. Wall Street Zen lowered Rimini Street from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reissued a “hold (c)” rating on shares of Rimini Street in a research note on Monday, December 29th. Finally, TD Cowen raised shares of Rimini Street to a “hold” rating in a research note on Monday, February 23rd. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $5.75.

About Rimini Street

Rimini Street, Inc (NASDAQ: RMNI) is a provider of enterprise software support services, specializing in third-party maintenance for mission-critical applications from leading technology vendors. The company offers comprehensive support for ERP, CRM and database environments, with coverage for systems from providers such as Oracle and SAP. Through its proactive system monitoring, performance tuning, regulatory and tax update services, Rimini Street aims to extend the lifecycle of enterprise applications while delivering service levels comparable to or exceeding those of original software vendors.

Founded in 2005 by technology entrepreneur Seth Ravin, Rimini Street has grown from a startup into a publicly traded company following its initial public offering in March 2018.