Key Points
- CFO Michael Perica sold 53,882 shares on January 8 at an average price of $4.00 for proceeds of $215,528, cutting his stake by 36.9% to 92,150 shares (SEC filing disclosed).
- Rimini Street stock opened at $3.90 (down ~2%), with a 12‑month range of $2.50–$5.38, a market cap near $357.8 million and a P/E of 8.48.
- Analysts have an overall "Hold" view with an average target of $5.75 (several recent downgrades and target cuts), while institutional investors own roughly 73.75% of the shares and several funds recently increased positions.
Rimini Street, Inc. (NASDAQ:RMNI - Get Free Report) CFO Michael Perica sold 53,882 shares of Rimini Street stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $4.00, for a total transaction of $215,528.00. Following the transaction, the chief financial officer owned 92,150 shares of the company's stock, valued at $368,600. The trade was a 36.90% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Rimini Street Trading Down 2.0%
Rimini Street stock opened at $3.90 on Friday. Rimini Street, Inc. has a 12 month low of $2.50 and a 12 month high of $5.38. The company has a market capitalization of $357.83 million, a price-to-earnings ratio of 8.48 and a beta of 1.19. The business's fifty day simple moving average is $3.94 and its two-hundred day simple moving average is $4.25.
Analyst Upgrades and Downgrades
Several research analysts have issued reports on the stock. TD Cowen decreased their target price on shares of Rimini Street from $6.00 to $5.00 and set a "hold" rating for the company in a report on Friday, October 31st. Cowen reaffirmed a "hold" rating on shares of Rimini Street in a report on Friday, October 31st. Weiss Ratings restated a "hold (c)" rating on shares of Rimini Street in a research note on Monday, December 29th. Finally, Wall Street Zen lowered shares of Rimini Street from a "buy" rating to a "hold" rating in a research note on Saturday, November 8th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $5.75.
View Our Latest Analysis on RMNI
Institutional Investors Weigh In On Rimini Street
Several hedge funds and other institutional investors have recently made changes to their positions in RMNI. Brooktree Capital Management boosted its holdings in shares of Rimini Street by 0.4% in the second quarter. Brooktree Capital Management now owns 3,902,223 shares of the company's stock worth $14,711,000 after buying an additional 15,770 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of Rimini Street by 2.2% during the 1st quarter. Acadian Asset Management LLC now owns 2,272,975 shares of the company's stock valued at $7,906,000 after acquiring an additional 48,993 shares during the period. Geode Capital Management LLC increased its stake in shares of Rimini Street by 1.5% in the 2nd 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. Mink Brook Asset Management LLC raised 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 purchasing an additional 699,574 shares during the period. Finally, Manatuck Hill Partners LLC grew its holdings in Rimini Street by 401.4% during the third quarter. Manatuck Hill Partners LLC now owns 604,640 shares of the company's stock valued at $2,830,000 after purchasing an additional 484,040 shares during the period. Hedge funds and other institutional investors own 73.75% of the company's stock.
Rimini Street Company Profile
(
Get Free Report)
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.
Further Reading
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