Rimini Street (NASDAQ:RMNI) EVP Sells $10,449.48 in Stock

Rimini Street, Inc. (NASDAQ:RMNI) EVP Kevin Maddock sold 2,809 shares of the firm’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $3.72, for a total transaction of $10,449.48. Following the completion of the sale, the executive vice president owned 177,562 shares in the company, valued at $660,530.64. This represents a 1.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Kevin Maddock also recently made the following trade(s):

• On Wednesday, March 4th, Kevin Maddock sold 7,209 shares of Rimini Street stock. The stock was sold at an average price of $3.64, for a total transaction of $26,240.76.

Rimini Street Stock Down 2.4%

NASDAQ RMNI opened at $3.62 on Friday. The company has a market cap of $331.81 million, a price-to-earnings ratio of 9.05 and a beta of 1.28. Rimini Street, Inc. has a twelve month low of $2.79 and a twelve month high of $5.38. The business’s fifty day moving average is $3.57 and its 200 day moving average is $4.02.

Analyst Ratings Changes

RMNI has been the topic of several research reports. Wall Street Zen cut Rimini Street from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. TD Cowen upgraded shares of Rimini Street to a “hold” rating in a research report on Monday, February 23rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Rimini Street in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $5.75.

Institutional Investors Weigh In On Rimini Street

Institutional investors and hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets raised its position in shares of Rimini Street by 96.8% during the third quarter. BNP Paribas Financial Markets now owns 9,944 shares of the company’s stock worth $47,000 after acquiring an additional 4,891 shares during the last quarter. Invesco Ltd. increased its position in Rimini Street by 37.2% during the 4th quarter. Invesco Ltd. now owns 22,105 shares of the company’s stock valued at $86,000 after purchasing an additional 5,998 shares during the period. Quarry LP acquired a new stake in Rimini Street during the 3rd quarter valued at approximately $31,000. Barclays PLC raised its holdings in Rimini Street by 10.6% during the 4th quarter. Barclays PLC now owns 75,893 shares of the company’s stock worth $294,000 after purchasing an additional 7,271 shares during the last quarter. Finally, Occudo Quantitative Strategies LP raised its holdings in Rimini Street by 32.5% during the 2nd quarter. Occudo Quantitative Strategies LP now owns 32,596 shares of the company’s stock worth $123,000 after purchasing an additional 7,998 shares during the last quarter. Institutional investors and hedge funds own 73.75% of the company’s stock.

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

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.