Rimini Street, Inc. (NASDAQ:RMNI) CEO Seth A. Ravin Sells 82,071 Shares

Rimini Street, Inc. (NASDAQ:RMNI) CEO Seth A. Ravin sold 82,071 shares of the stock in a transaction on Monday, April 8th. The stock was sold at an average price of $2.98, for a total transaction of $244,571.58. Following the completion of the sale, the chief executive officer now directly owns 425,955 shares of the company’s stock, valued at $1,269,345.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Rimini Street Trading Up 2.8 %

RMNI traded up $0.08 during trading on Monday, hitting $2.96. 693,432 shares of the company traded hands, compared to its average volume of 275,157. The company has a market cap of $266.10 million, a PE ratio of 10.21 and a beta of 1.23. The stock’s 50-day simple moving average is $3.15 and its two-hundred day simple moving average is $2.95. Rimini Street, Inc. has a 1 year low of $2.01 and a 1 year high of $5.32.

Rimini Street (NASDAQ:RMNI) last posted its earnings results on Wednesday, February 28th. The company reported $0.15 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.06. The company had revenue of $112.11 million during the quarter, compared to analysts’ expectations of $105.95 million. Rimini Street had a net margin of 6.04% and a negative return on equity of 63.89%. Equities analysts expect that Rimini Street, Inc. will post 0.37 EPS for the current year.

Hedge Funds Weigh In On Rimini Street

Several institutional investors have recently bought and sold shares of RMNI. Steamboat Capital Partners LLC purchased a new position in shares of Rimini Street in the 3rd quarter worth $772,000. Acadian Asset Management LLC lifted its holdings in shares of Rimini Street by 30.6% in the 3rd quarter. Acadian Asset Management LLC now owns 1,358,364 shares of the company’s stock worth $2,987,000 after acquiring an additional 318,029 shares during the last quarter. Brooktree Capital Management lifted its holdings in shares of Rimini Street by 43.6% in the 3rd quarter. Brooktree Capital Management now owns 2,817,829 shares of the company’s stock worth $6,199,000 after acquiring an additional 856,085 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Rimini Street by 26.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 62,456 shares of the company’s stock worth $137,000 after acquiring an additional 13,237 shares during the last quarter. Finally, Legato Capital Management LLC bought a new stake in shares of Rimini Street in the 4th quarter worth about $55,000. 73.75% of the stock is owned by hedge funds and other institutional investors.

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.