Insider Selling: Rimini Street, Inc. (NASDAQ:RMNI) EVP Sells 24,344 Shares of Stock

Key Points

• Rimini Street's EVP Nancy Lyskawa sold 24,344 shares at an average price of $4.00, totaling $97,376, which resulted in a 13.16% decrease in her holdings.
• The company's stock has a 12-month high of $5.38 and a 12-month low of $1.53, with current trading around $3.96.
• Rimini Street has recently been dropped from a "strong-buy" rating to a "buy" rating by Wall Street Zen, although Roth Capital maintains a $6.50 target price with a "buy" rating.

Rimini Street, Inc. (NASDAQ:RMNI - Get Free Report) EVP Nancy Lyskawa sold 24,344 shares of the firm's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $4.00, for a total transaction of $97,376.00. Following the completion of the transaction, the executive vice president directly owned 160,609 shares in the company, valued at $642,436. This represents a 13.16% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Nancy Lyskawa also recently made the following trade(s):

• On Saturday, August 2nd, Nancy Lyskawa sold 490 shares of Rimini Street stock. The stock was sold at an average price of $4.06, for a total transaction of $1,989.40.

Rimini Street Stock Performance

Rimini Street stock traded down $0.06 during midday trading on Thursday, hitting $3.96. 374,015 shares of the company's stock were exchanged, compared to its average volume of 585,929. The firm has a 50-day moving average of $3.99 and a two-hundred day moving average of $3.57. Rimini Street, Inc. has a 12 month low of $1.53 and a 12 month high of $5.38. The company has a market cap of $366.38 million, a PE ratio of -98.98 and a beta of 1.34.

Institutional Investors Weigh In On Rimini Street

Several institutional investors have recently bought and sold shares of RMNI. Financial Management Professionals Inc. acquired a new stake in shares of Rimini Street in the 1st quarter worth $44,000. ProShare Advisors LLC increased its position in Rimini Street by 49.1% during the 4th quarter. ProShare Advisors LLC now owns 14,942 shares of the company's stock valued at $40,000 after buying an additional 4,918 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in Rimini Street in the fourth quarter valued at about $40,000. Belvedere Trading LLC acquired a new stake in Rimini Street in the second quarter worth about $64,000. Finally, NewEdge Advisors LLC acquired a new stake in Rimini Street in the first quarter worth about $66,000. 73.75% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RMNI has been the subject of several research analyst reports. Wall Street Zen downgraded shares of Rimini Street from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Roth Capital set a $6.50 target price on Rimini Street and gave the company a "buy" rating in a research report on Thursday, July 10th.

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.

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