Seth A. Ravin Sells 14,375 Shares of Rimini Street, Inc. (NASDAQ:RMNI) Stock

Rimini Street, Inc. (NASDAQ:RMNI) CEO Seth A. Ravin sold 14,375 shares of the company’s stock in a transaction dated Friday, December 13th. The shares were sold at an average price of $2.20, for a total value of $31,625.00. Following the completion of the sale, the chief executive officer now directly owns 444,914 shares of the company’s stock, valued at approximately $978,810.80. This trade represents a 3.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Rimini Street Price Performance

Rimini Street stock opened at $2.62 on Thursday. Rimini Street, Inc. has a one year low of $1.53 and a one year high of $3.43. The company has a market cap of $238.21 million, a price-to-earnings ratio of -7.08 and a beta of 1.34. The firm has a 50-day moving average of $1.96 and a 200-day moving average of $2.19.

Rimini Street (NASDAQ:RMNI) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.15. The firm had revenue of $104.67 million for the quarter, compared to analyst estimates of $99.39 million. Rimini Street had a negative net margin of 7.87% and a negative return on equity of 83.26%. As a group, sell-side analysts expect that Rimini Street, Inc. will post 0.37 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, Craig Hallum upgraded Rimini Street from a “hold” rating to a “buy” rating and increased their target price for the stock from $2.00 to $6.00 in a report on Tuesday.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. SG Americas Securities LLC raised its holdings in Rimini Street by 60.7% in the 3rd quarter. SG Americas Securities LLC now owns 18,289 shares of the company’s stock valued at $34,000 after acquiring an additional 6,905 shares during the period. Virtu Financial LLC acquired a new stake in shares of Rimini Street during the third quarter worth $58,000. Lee Danner & Bass Inc. acquired a new position in shares of Rimini Street in the second quarter valued at about $61,000. Byrne Asset Management LLC bought a new position in Rimini Street during the second quarter worth about $62,000. Finally, Ruane Cunniff & Goldfarb L.P. raised its stake in Rimini Street by 34.3% in the 3rd quarter. Ruane Cunniff & Goldfarb L.P. now owns 38,090 shares of the company’s stock worth $70,000 after purchasing an additional 9,719 shares in the last quarter. 73.75% of the stock is owned by institutional investors and hedge funds.

Rimini Street Company Profile

Rimini Street, Inc provides enterprise software products, services, and support. The company engages in the provision of support services for Oracle and SAP enterprise software products. It also provides Rimini ONE, an outsourcing option that offers a set of unified and integrated services to run, manage, support, customize, configure, connect, protect, monitor, and optimize its clients’ application, database, and technology enterprise software; Rimini Support, a mission-critical support for Oracle, SAP, proprietary and open-source database, and technology software; Rimini Manage, a suite of managed services for application and database software; Rimini Protect, a suite of personalized software security services and solutions; and Rimini Connect, a suite of managed interoperability solutions for browsers, operating systems, and email systems.