Key Points
- CFO Michael Perica sold 24,879 shares at an average of $3.64 on March 4 for $90,559.56, cutting his stake to 117,655 shares — a 17.45% reduction — per an SEC filing.
- Rimini Street shares traded at $3.62 (50‑day MA $3.57, 200‑day MA $4.02) with a market cap of about $331.8M and a PE near 9, and analysts hold an average rating of "Hold" with a $5.75 target.
- Institutions own roughly 73.8% of the stock and several funds have added positions, but clustered insider selling by other senior executives in early March may pressure near‑term sentiment.
Rimini Street, Inc. (NASDAQ:RMNI - Get Free Report) EVP Steven Hershkowitz sold 5,193 shares of the company's stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $3.64, for a total transaction 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Rimini Street Trading Down 2.4%
Rimini Street stock traded down $0.09 during trading on Friday, hitting $3.62. The company had a trading volume of 457,035 shares, compared to its average volume of 453,446. The stock 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 1-year low of $2.79 and a 1-year high of $5.38. The company's 50 day simple moving average is $3.57 and its 200-day simple moving average is $4.02.
Trending Headlines about 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
Analyst Upgrades and Downgrades
Several equities research analysts recently issued reports on the company. TD Cowen upgraded Rimini Street to a "hold" rating in a report on Monday, February 23rd. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Rimini Street in a research report 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. One equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $5.75.
Check Out Our Latest Stock Report on RMNI
Institutional Trading of Rimini Street
A number of large investors have recently modified their holdings of the stock. Brooktree Capital Management raised its stake 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 valued at $14,711,000 after acquiring an additional 15,770 shares in the last quarter. Pacific Ridge Capital Partners LLC grew its stake in Rimini Street by 9.4% during the 4th quarter. Pacific Ridge Capital Partners LLC now owns 1,857,512 shares of the company's stock worth $7,207,000 after purchasing an additional 159,673 shares in the last quarter. Mink Brook Asset Management LLC increased its holdings in Rimini Street by 73.4% during the 4th quarter. Mink Brook Asset Management LLC now owns 1,299,741 shares of the company's stock worth $5,043,000 after purchasing an additional 550,167 shares during the period. Geode Capital Management LLC increased its holdings in Rimini Street by 1.5% during 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 during the period. Finally, Samjo Management LLC raised its position in Rimini Street by 149.0% in 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 in the last quarter. Hedge funds and other institutional investors own 73.75% of the company's stock.
About Rimini Street
(
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.
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