Michael Perica Sells 3,140 Shares of Rimini Street (NASDAQ:RMNI) Stock

by · The Markets Daily

Rimini Street, Inc. (NASDAQ:RMNI – Get Free Report) CFO Michael Perica sold 3,140 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $3.72, for a total value of $11,680.80. Following the completion of the transaction, the chief financial officer owned 95,677 shares in the company, valued at $355,918.44. The trade was a 3.18% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Rimini Street Stock Up 0.5%

Shares of Rimini Street stock traded up $0.02 during trading hours on Thursday, reaching $3.71. 325,872 shares of the company’s stock were exchanged, compared to its average volume of 451,717. The business has a fifty day moving average of $3.58 and a two-hundred day moving average of $4.02. The company has a market capitalization of $340.06 million, a P/E ratio of 9.28 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.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of RMNI. Quarry LP acquired a new position in shares of Rimini Street in the 3rd quarter worth approximately $31,000. SG Americas Securities LLC acquired a new position in Rimini Street during the fourth quarter worth $43,000. BNP Paribas Financial Markets grew its stake in shares of Rimini Street by 96.8% in the third quarter. BNP Paribas Financial Markets now owns 9,944 shares of the company’s stock valued at $47,000 after buying an additional 4,891 shares in the last quarter. nVerses Capital LLC purchased a new stake in shares of Rimini Street in the 4th quarter valued at $57,000. Finally, NewEdge Advisors LLC purchased a new stake in shares of Rimini Street in the 1st quarter valued at $66,000. Hedge funds and other institutional investors own 73.75% of the company’s stock.

Wall Street Analyst Weigh In

RMNI has been the subject of a number of analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of Rimini Street in a research report on Monday, December 29th. TD Cowen raised Rimini Street to a “hold” rating in a research note on Monday, February 23rd. Finally, Wall Street Zen downgraded Rimini Street from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, Rimini Street presently has a consensus rating of “Hold” and a consensus price target of $5.75.

Get Our Latest Analysis on Rimini Street

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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