Key Points
- Rimini Street EVP Steven Hershkowitz sold 42,482 shares for approximately $211,560 at an average price of $4.98, reducing his direct holdings by 18.51% to 186,992 shares.
- Rimini Street reported quarterly EPS of $0.12, beating estimates of $0.09, while revenue of $109.34 million fell slightly short of expectations.
- Analyst sentiment is moderately positive, with a consensus “Moderate Buy” rating and an average price target of $6.33; institutional investors own 73.75% of the company.
Rimini Street, Inc. (NASDAQ:RMNI - Get Free Report) EVP Steven Hershkowitz sold 42,482 shares of the firm's stock in a transaction on Monday, November 2nd. The stock was sold at an average price of $4.98, for a total transaction of $211,560.36. Following the completion of the transaction, the executive vice president directly owned 186,992 shares of the company's stock, valued at approximately $931,220.16. This represents a 18.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.
Rimini Street Trading Down 1.6%
NASDAQ:RMNI opened at $4.88 on Tuesday. The company has a market capitalization of $455.60 million, a P/E ratio of 28.75 and a beta of 1.31. Rimini Street, Inc. has a 12 month low of $2.87 and a 12 month high of $5.68. The firm has a fifty day simple moving average of $4.47 and a 200-day simple moving average of $4.04.
Rimini Street (NASDAQ:RMNI - Get Free Report) last released its earnings results on Thursday, October 29th. The company reported $0.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.03. The firm had revenue of $109.34 million for the quarter, compared to the consensus estimate of $110.82 million. Rimini Street had a negative return on equity of 53.91% and a net margin of 1.69%. Equities analysts forecast that Rimini Street, Inc. will post 0.22 EPS for the current year.
Analysts Set New Price Targets
A number of research analysts have recently weighed in on the company. Wall Street Zen raised Rimini Street from a "buy" rating to a "strong-buy" rating in a report on Saturday. Zacks Research raised Rimini Street from a "strong sell" rating to a "hold" rating in a report on Monday, July 6th. Weiss Ratings reiterated a "hold (c)" rating on shares of Rimini Street in a research report on Friday, October 2nd. Craig Hallum reiterated a "buy" rating and issued a $8.00 price target on shares of Rimini Street in a report on Friday, July 31st. Finally, Roth Capital reissued a "buy" rating and set a $6.50 price target on shares of Rimini Street in a research report on Thursday, July 30th. Three equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat, Rimini Street has a consensus rating of "Moderate Buy" and an average price target of $6.33.
Get Our Latest Report on Rimini Street
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in RMNI. Conifer Management L.L.C. purchased a new stake in Rimini Street in the second quarter valued at $25,190,228. BlackRock Inc. purchased a new position in shares of Rimini Street during the 2nd quarter valued at about $15,729,000. Bard Associates Inc. purchased a new position in shares of Rimini Street during the 2nd quarter valued at about $1,094,000. Bank of New York Mellon Corp acquired a new position in shares of Rimini Street in the 2nd quarter valued at about $975,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Rimini Street in the 2nd quarter valued at about $957,000. 73.75% of the stock is currently owned by institutional investors and hedge funds.
About Rimini Street
(
Get Free Report)
Rimini Street, Inc provides enterprise software support, products and services for organizations using business applications and database systems. The company is best known for third-party support for software from Oracle, SAP and other enterprise technology providers, helping customers maintain existing systems while reducing the need for frequent upgrades.
Its offerings include application management, database support, interoperability services, security services, managed services and professional services.
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