Rimini Street (NASDAQ:RMNI) EVP Kevin Maddock Sells 2,809 Shares

by · The Markets Daily

Rimini Street, Inc. (NASDAQ:RMNI – Get Free Report) EVP Kevin Maddock sold 2,809 shares of the company’s stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $3.72, for a total transaction of $10,449.48. Following the transaction, the executive vice president directly owned 177,562 shares of the company’s stock, valued at approximately $660,530.64. This represents a 1.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Rimini Street Stock Performance

Shares of RMNI traded down $0.14 during trading hours on Friday, hitting $3.57. The stock had a trading volume of 206,549 shares, compared to its average volume of 365,731. The company’s fifty day simple moving average is $3.58 and its 200 day simple moving average is $4.02. Rimini Street, Inc. has a 12-month low of $2.79 and a 12-month high of $5.38. The firm has a market cap of $327.23 million, a P/E ratio of 8.93 and a beta of 1.28.

Analyst Ratings Changes

Several research firms have commented on RMNI. TD Cowen raised Rimini Street to a “hold” rating in a research report on Monday, February 23rd. Wall Street Zen lowered Rimini Street from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Rimini Street in a research report on Monday, December 29th. 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 MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $5.75.

Read Our Latest Research Report on RMNI

Institutional Trading of Rimini Street

Institutional investors have recently added to or reduced their stakes in the stock. Cubist Systematic Strategies LLC acquired a new position in shares of Rimini Street in the 1st quarter valued at about $134,000. AQR Capital Management LLC lifted its holdings in Rimini Street by 243.9% in the first quarter. AQR Capital Management LLC now owns 36,360 shares of the company’s stock worth $127,000 after acquiring an additional 25,788 shares during the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in Rimini Street in the first quarter valued at approximately $271,000. NewEdge Advisors LLC acquired a new position in Rimini Street in the first quarter valued at approximately $66,000. Finally, Jane Street Group LLC grew its holdings in shares of Rimini Street by 120.2% during the first quarter. Jane Street Group LLC now owns 33,179 shares of the company’s stock valued at $115,000 after purchasing an additional 18,112 shares during the last quarter. 73.75% of the stock is owned by institutional investors and hedge funds.

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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