Rimini Street (NASDAQ:RMNI) EVP Sells $211,560.36 in Stock

Key Points

• Rimini Street EVP Steven Hershkowitz sold 42,482 shares at an average price of $4.98, totaling $211,560.36. His remaining ownership fell 18.51% to 186,992 shares.
• RMNI shares closed at $4.88, with trading volume of 849,336 shares—more than double the average. The stock has ranged from $2.87 to $5.68 over the past year.
• The company reported quarterly EPS of $0.12, beating estimates of $0.09, while revenue of $109.34 million came in below the $110.82 million consensus. Analysts maintain a “Moderate Buy” consensus with an average price target of $6.33.

Rimini Street, Inc. (NASDAQ:RMNI - Get Free Report) EVP Steven Hershkowitz sold 42,482 shares of the company's stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $4.98, for a total transaction of $211,560.36. Following the completion of the transaction, the executive vice president owned 186,992 shares in the company, valued at approximately $931,220.16. This represents a 18.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Rimini Street Stock Performance

Shares of RMNI traded down $0.08 on Monday, hitting $4.88. 849,336 shares of the stock traded hands, compared to its average volume of 404,486. The company has a market capitalization of $455.58 million, a PE ratio of 40.67 and a beta of 1.31. The business has a 50 day simple moving average of $4.48 and a 200 day simple moving average of $4.04. Rimini Street, Inc. has a one year low of $2.87 and a one year high of $5.68.

Rimini Street (NASDAQ:RMNI - Get Free Report) last announced its quarterly earnings results on Thursday, October 29th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.09 by $0.03. The firm had revenue of $109.34 million for the quarter, compared to the consensus estimate of $110.82 million. Rimini Street had a negative return on equity of 81.86% and a net margin of 2.51%. On average, equities analysts expect that Rimini Street, Inc. will post 0.22 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RMNI. Zacks Research raised Rimini Street from a "strong sell" rating to a "hold" rating in a research report on Monday, July 6th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Rimini Street in a report on Friday, October 2nd. Roth Capital reiterated a "buy" rating and issued a $6.50 price target on shares of Rimini Street in a research note on Thursday, July 30th. Wall Street Zen raised shares of Rimini Street from a "buy" rating to a "strong-buy" rating in a report on Saturday. Finally, Craig Hallum reissued a "buy" rating and set a $8.00 price objective on shares of Rimini Street in a report on Friday, July 31st. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Rimini Street presently has an average rating of "Moderate Buy" and an average price target of $6.33.

Hedge Funds Weigh In On Rimini Street

A number of institutional investors and hedge funds have recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of Rimini Street in the third quarter worth $53,000. AXQ Capital LP purchased a new stake in Rimini Street during the second quarter valued at $90,000. Public Employees Retirement System of Ohio bought a new position in Rimini Street in the second quarter valued at about $158,000. Corient Private Wealth LP bought a new position in Rimini Street in the second quarter valued at about $427,000. Finally, Bank of America Corp DE bought a new position in Rimini Street in the second quarter valued at about $146,000. 73.75% of the stock is currently owned by hedge funds and other institutional investors.

Rimini Street Company Profile

Rimini Street, Inc provides enterprise software support, products and services for organizations using business applications and database systems. The company is best known for third-party support for software from Oracle, SAP and other enterprise technology providers, helping customers maintain existing systems while reducing the need for frequent upgrades.

Its offerings include application management, database support, interoperability services, security services, managed services and professional services.

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