Key Points
- CEO Seth Ravin sold 3,080 shares at an average price of $3.72 on March 3, reducing his stake by 0.45% to 682,125 shares; the transaction was disclosed to the SEC.
- RMNI is trading around $3.58 with a market cap of $328.14 million, a P/E of 8.95, a 50-day SMA of $3.58 versus a 200-day SMA of $4.02, and a 52-week range of $2.79–$5.38.
- Institutional ownership is high at 73.75%, with recent inflows from Boston Partners, Brooktree, Samjo and new stakes by Voss and Formula, while analysts show an average rating of "Hold" and an average price target of $5.75.
Rimini Street, Inc. (NASDAQ:RMNI - Get Free Report) CMO David Rowe sold 2,809 shares of the business's stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $3.72, for a total transaction of $10,449.48. Following the completion of the sale, the chief marketing officer directly owned 457,789 shares in the company, valued at approximately $1,702,975.08. This represents a 0.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.
Rimini Street Stock Performance
Shares of RMNI traded down $0.14 during mid-day trading on Friday, reaching $3.57. 206,549 shares of the company were exchanged, compared to its average volume of 365,731. Rimini Street, Inc. has a 52 week low of $2.79 and a 52 week high of $5.38. The stock has a market capitalization of $327.23 million, a PE ratio of 8.93 and a beta of 1.28. The business has a 50 day simple moving average of $3.58 and a two-hundred day simple moving average of $4.02.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently commented on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of Rimini Street in a research report on Monday, December 29th. Wall Street Zen downgraded shares of Rimini Street from a "buy" rating to a "hold" rating in a research note on Saturday, November 8th. Finally, TD Cowen raised shares of Rimini Street to a "hold" rating in a research note on Monday, February 23rd. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, Rimini Street presently has a consensus rating of "Hold" and a consensus target price of $5.75.
Get Our Latest Stock Analysis on RMNI
Institutional Trading of Rimini Street
Several hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets raised its position in shares of Rimini Street by 96.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 9,944 shares of the company's stock valued at $47,000 after purchasing an additional 4,891 shares during the last quarter. Invesco Ltd. increased its position in shares of Rimini Street by 37.2% during the fourth quarter. Invesco Ltd. now owns 22,105 shares of the company's stock worth $86,000 after acquiring an additional 5,998 shares during the period. Quarry LP acquired a new stake in shares of Rimini Street in the third quarter valued at $31,000. Barclays PLC increased 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 period. Finally, Occudo Quantitative Strategies LP raised its position in Rimini Street by 32.5% in the 2nd quarter. Occudo Quantitative Strategies LP now owns 32,596 shares of the company's stock valued at $123,000 after purchasing an additional 7,998 shares in the last quarter. Institutional investors own 73.75% of the company's stock.
Rimini Street Company Profile
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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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