David Rowe Sells 7,209 Shares of Rimini Street (NASDAQ:RMNI) Stock

Key Points

• CMO David Rowe sold 7,209 shares on March 4 at an average price of $3.64, cutting his stake by 1.53% to 464,444 shares worth about $1.69M.
• RMNI shares fell roughly 2.4% to $3.62, trading below their 200‑day moving average; the company has a market cap near $332M and a P/E of about 9.
• Institutional ownership is high at about 73.8% after notable inflows from several funds, while analysts maintain an average “Hold” rating with a mean target of roughly $5.75.

Rimini Street, Inc. (NASDAQ:RMNI - Get Free Report) CMO David Rowe sold 7,209 shares of the firm's stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $3.64, for a total value of $26,240.76. Following the completion of the transaction, the chief marketing officer directly owned 464,444 shares in the company, valued at $1,690,576.16. The trade was a 1.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Rimini Street Stock Down 2.4%

RMNI stock traded down $0.09 during midday trading on Friday, hitting $3.62. 457,035 shares of the company traded hands, compared to its average volume of 453,446. Rimini Street, Inc. has a twelve month low of $2.79 and a twelve month high of $5.38. The stock has a market capitalization of $331.81 million, a price-to-earnings ratio of 9.05 and a beta of 1.28. The business has a 50 day simple moving average of $3.57 and a 200-day simple moving average of $4.02.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RMNI. Samjo Management LLC lifted its stake in shares of Rimini Street by 149.0% in the fourth quarter. Samjo Management LLC now owns 1,207,750 shares of the company's stock valued at $4,686,000 after buying an additional 722,750 shares during the period. Mink Brook Asset Management LLC raised its holdings in Rimini Street by 1,399.1% in the 3rd quarter. Mink Brook Asset Management LLC now owns 749,574 shares of the company's stock valued at $3,508,000 after acquiring an additional 699,574 shares in the last quarter. Immersion Corp acquired a new position in Rimini Street in the 4th quarter valued at approximately $2,043,000. Manatuck Hill Partners LLC lifted its position in shares of Rimini Street by 401.4% in the 3rd quarter. Manatuck Hill Partners LLC now owns 604,640 shares of the company's stock worth $2,830,000 after acquiring an additional 484,040 shares during the period. Finally, CenterBook Partners LP acquired a new stake in shares of Rimini Street during the 3rd quarter worth approximately $1,571,000. Institutional investors and hedge funds own 73.75% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on RMNI shares. Wall Street Zen lowered shares of Rimini Street from a "buy" rating to a "hold" rating in a research report on Saturday, November 8th. TD Cowen upgraded Rimini Street to a "hold" rating in a research note on Monday, February 23rd. Finally, Weiss Ratings reissued 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 given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $5.75.

Trending Headlines about Rimini Street

Here are the key news stories impacting Rimini Street this week:

• Positive Sentiment: Institutional investors have been adding to positions (Invesco, BNP Paribas, Barclays and others increased stakes), and institutions now own ~73.8% of the stock — a supportive sign of professional interest that can limit downside. MarketBeat Institutional & Insider Summary
• Neutral Sentiment: Analysts show a consensus “Hold” with a target around $5.75 (one Buy, two Holds). Valuation metrics (PE ~9, market cap ~ $330M) may attract value-oriented buyers, but the stock sits below its 200-day moving average, which mutes near-term bullish conviction. MarketBeat Analyst Coverage
• Negative Sentiment: Several senior insiders sold small blocks of shares on Mar 3 — CEO Seth Ravin (3,080 shares), CMO David Rowe (2,809), CFO Michael Perica (3,140) and other EVPs — each sale worth roughly $8–12k (at ~$3.72). Though the reductions are small percentage-wise (sub-4% for any single insider), clustered insider selling often pressures sentiment and can trigger short-term selling by other holders. InsiderTrades: Insider Selling Alert

About Rimini Street

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.