Key Points
- Rimini Street CMO David Rowe sold 4,884 shares at an average price of $4.36, worth approximately $21,294. The sale covered tax-withholding obligations tied to vested equity awards, reducing his direct ownership by 0.95% to 506,568 shares.
- RMNI was trading at $4.30, with a market capitalization of about $401 million and a 12-month range of $2.87 to $5.68. Institutional investors own approximately 73.75% of the company.
- Analyst sentiment remains moderately positive, with three Buy and three Hold ratings and a consensus price target of $6.33, above the current share price.
Rimini Street, Inc. (NASDAQ:RMNI - Get Free Report) CMO David Rowe sold 4,884 shares of Rimini Street stock in a transaction on Monday, September 21st. The stock was sold at an average price of $4.36, for a total value of $21,294.24. Following the sale, the chief marketing officer directly owned 506,568 shares of the company's stock, valued at approximately $2,208,636.48. This trade represents a 0.95% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Rimini Street Trading Down 1.8%
NASDAQ RMNI opened at $4.30 on Thursday. The stock has a 50-day simple moving average of $4.84 and a 200 day simple moving average of $4.16. The company has a market capitalization of $401.45 million, a PE ratio of 53.76 and a beta of 1.24. Rimini Street, Inc. has a 12 month low of $2.87 and a 12 month high of $5.68.
Institutional Investors Weigh In On Rimini Street
Several large investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company bought a new position in shares of Rimini Street during the 2nd quarter valued at about $49,000. AXQ Capital LP bought a new stake in Rimini Street during the 2nd quarter worth approximately $90,000. Bank of America Corp DE bought a new stake in Rimini Street during the 2nd quarter worth approximately $146,000. Public Employees Retirement System of Ohio acquired a new stake in Rimini Street during the 2nd quarter worth approximately $158,000. Finally, Deutsche Bank AG acquired a new stake in Rimini Street during the 2nd quarter worth approximately $207,000. 73.75% of the stock is currently owned by institutional investors.
Analysts Set New Price Targets
A number of analysts have recently commented on the company. Wall Street Zen raised Rimini Street from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. Weiss Ratings cut shares of Rimini Street from a "hold (c+)" rating to a "hold (c)" rating in a report on Tuesday, July 7th. Roth Capital restated a "buy" rating and set a $6.50 price objective on shares of Rimini Street in a report on Thursday, July 30th. Zacks Research raised shares of Rimini Street from a "strong sell" rating to a "hold" rating in a research note on Monday, July 6th. Finally, Craig Hallum reiterated a "buy" rating and issued a $8.00 target price on shares of Rimini Street in a report on Friday, July 31st. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $6.33.
Get Our Latest Report on Rimini Street
Rimini Street Company Profile
(
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Rimini Street, Inc is a global provider of enterprise software products and services. The company is best known for third-party support for enterprise applications, including Oracle and SAP software, and helps organizations maintain, optimize and extend the useful life of their existing technology systems.
Its offerings include software support, managed services, security services, application management, database services, integration and interoperability solutions, and professional services.
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