Insider Selling: Rimini Street (NASDAQ:RMNI) EVP Sells $18,902.52 in Stock

Rimini Street, Inc. (NASDAQ:RMNI) EVP Steven Hershkowitz sold 5,193 shares of Rimini Street stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $3.64, for a total value of $18,902.52. Following the completion of the transaction, the executive vice president owned 107,953 shares in the company, valued at approximately $392,948.92. This represents a 4.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link.

Rimini Street Trading Down 2.4%

NASDAQ RMNI opened at $3.62 on Monday. The firm has a market cap of $331.81 million, a PE ratio of 9.05 and a beta of 1.28. Rimini Street, Inc. has a 1-year low of $2.79 and a 1-year high of $5.38. The stock has a 50-day moving average of $3.57 and a 200-day moving average of $4.02.

Key Stories Impacting Rimini Street

Here are the key news stories impacting Rimini Street this week:

• Positive Sentiment: Institutional investors have been adding to positions (Invesco, BNP Paribas, Barclays and others increased stakes), and institutions now own ~73.8% of the stock — a supportive sign of professional interest that can limit downside. MarketBeat Institutional & Insider Summary
• Neutral Sentiment: Analysts show a consensus “Hold” with a target around $5.75 (one Buy, two Holds). Valuation metrics (PE ~9, market cap ~ $330M) may attract value-oriented buyers, but the stock sits below its 200-day moving average, which mutes near-term bullish conviction. MarketBeat Analyst Coverage
• Negative Sentiment: Several senior insiders sold small blocks of shares on Mar 3 — CEO Seth Ravin (3,080 shares), CMO David Rowe (2,809), CFO Michael Perica (3,140) and other EVPs — each sale worth roughly $8–12k (at ~$3.72). Though the reductions are small percentage-wise (sub-4% for any single insider), clustered insider selling often pressures sentiment and can trigger short-term selling by other holders. InsiderTrades: Insider Selling Alert

Institutional Trading of Rimini Street

Several large investors have recently modified their holdings of RMNI. Samjo Management LLC increased its holdings in Rimini Street by 149.0% during the 4th quarter. Samjo Management LLC now owns 1,207,750 shares of the company’s stock valued at $4,686,000 after purchasing an additional 722,750 shares during the period. Mink Brook Asset Management LLC lifted its holdings in Rimini Street by 1,399.1% in the 3rd quarter. Mink Brook Asset Management LLC now owns 749,574 shares of the company’s stock worth $3,508,000 after buying an additional 699,574 shares during the period. Immersion Corp bought a new stake in shares of Rimini Street in the 4th quarter worth approximately $2,043,000. Manatuck Hill Partners LLC grew its position in shares of Rimini Street by 401.4% in the 3rd quarter. Manatuck Hill Partners LLC now owns 604,640 shares of the company’s stock worth $2,830,000 after buying an additional 484,040 shares during the last quarter. Finally, CenterBook Partners LP purchased a new position in shares of Rimini Street during the third quarter valued at approximately $1,571,000. 73.75% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

RMNI has been the subject of a number of analyst reports. Weiss Ratings reissued a “hold (c)” rating on shares of Rimini Street in a research note on Monday, December 29th. TD Cowen raised shares of Rimini Street to a “hold” rating in a research note on Monday, February 23rd. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus 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.