Rimini Street, Inc. (NASDAQ:RMNI) Stock Now Rated "Moderate Buy" by Wall Street Analysts

Key Points

• Rimini Street has a “Moderate Buy” consensus rating from six analysts, split evenly between three buy and three hold ratings. The average 12-month price target is $6.33, above the reported share price of $4.07.
• Recent analyst actions included buy ratings and price targets of $6.50 from Roth Capital and $8.00 from Craig Hallum, while Zacks Research upgraded the stock from “strong sell” to “hold.”
• Insiders have been net sellers, with company insiders selling 327,591 shares worth about $1.68 million over the past 90 days. Institutional investors own 73.75% of Rimini Street, while insiders retain a 42.00% ownership stake.

Shares of Rimini Street, Inc. (NASDAQ:RMNI - Get Free Report) have been given a consensus rating of "Moderate Buy" by the six ratings firms that are presently covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $6.33.

RMNI has been the subject of a number of research reports. Roth Capital restated a "buy" rating and issued a $6.50 price objective on shares of Rimini Street in a report on Thursday, July 30th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Rimini Street in a research note on Friday, October 2nd. Craig Hallum reiterated a "buy" rating and set a $8.00 target price on shares of Rimini Street in a report on Friday, July 31st. Wall Street Zen upgraded shares of Rimini Street from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Finally, Zacks Research raised shares of Rimini Street from a "strong sell" rating to a "hold" rating in a research report on Monday, July 6th.

Insider Buying and Selling at Rimini Street

In related news, CEO Seth Ravin sold 89,639 shares of Rimini Street stock in a transaction on Friday, September 4th. The stock was sold at an average price of $5.02, for a total value of $449,987.78. Following the completion of the transaction, the chief executive officer directly owned 10,168,602 shares in the company, valued at approximately $51,046,382.04. This trade represents a 0.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders sold a total of 327,591 shares of company stock worth $1,677,747 over the last 90 days. 42.00% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rimini Street

Several large investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company acquired a new position in shares of Rimini Street during the second quarter worth about $49,000. AXQ Capital LP purchased a new stake in shares of Rimini Street during the second quarter worth approximately $90,000. Bank of America Corp DE acquired a new stake in Rimini Street in the second quarter valued at approximately $146,000. Public Employees Retirement System of Ohio acquired a new stake in Rimini Street in the second quarter valued at approximately $158,000. Finally, Deutsche Bank AG acquired a new stake in Rimini Street in the second quarter valued at approximately $207,000. Hedge funds and other institutional investors own 73.75% of the company's stock.

Rimini Street Price Performance

Shares of NASDAQ:RMNI opened at $4.07 on Thursday. The firm has a market capitalization of $379.96 million, a PE ratio of 50.88 and a beta of 1.31. The firm's 50-day moving average is $4.68 and its two-hundred day moving average is $4.25. Rimini Street has a 1 year low of $2.87 and a 1 year high of $5.68.

About Rimini Street

Rimini Street, Inc is a global provider of enterprise software support, managed services and consulting. The company helps organizations maintain and optimize business applications from software vendors including Oracle, SAP and IBM, offering an alternative to the vendors' standard support programs.

Its services include third-party application maintenance and support, software management, interoperability assistance, security services, database administration, technology consulting and application management.

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