Rimini Street (NASDAQ:RMNI) Given New $4.50 Price Target at Alliance Global Partners

Rimini Street (NASDAQ:RMNI - Get Free Report) had its price objective decreased by research analysts at Alliance Global Partners from $5.50 to $4.50 in a research report issued on Friday, Benzinga reports. The firm presently has a "buy" rating on the stock. Alliance Global Partners' target price indicates a potential upside of 76.47% from the stock's previous close.

Rimini Street Trading Down 2.3 %

Shares of RMNI stock traded down $0.06 during trading on Friday, reaching $2.55. 521,403 shares of the company's stock traded hands, compared to its average volume of 268,277. The company has a market capitalization of $230.49 million, a P/E ratio of 8.79 and a beta of 1.27. The firm's 50-day moving average is $3.01 and its 200 day moving average is $3.03. Rimini Street has a 1 year low of $2.01 and a 1 year high of $5.32.

Rimini Street (NASDAQ:RMNI - Get Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The company reported $0.15 EPS for the quarter, beating analysts' consensus estimates of $0.09 by $0.06. The company had revenue of $112.11 million for the quarter, compared to analysts' expectations of $105.95 million. Rimini Street had a net margin of 6.04% and a negative return on equity of 63.89%. As a group, sell-side analysts predict that Rimini Street will post 0.35 earnings per share for the current fiscal year.

Insider Activity at Rimini Street

In related news, EVP David W. Rowe sold 10,888 shares of the company's stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $2.98, for a total transaction of $32,446.24. Following the sale, the executive vice president now directly owns 385,941 shares in the company, valued at approximately $1,150,104.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Rimini Street news, EVP David W. Rowe sold 10,888 shares of the stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $2.98, for a total value of $32,446.24. Following the sale, the executive vice president now directly owns 385,941 shares in the company, valued at approximately $1,150,104.18. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Michael L. Perica sold 30,588 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $2.98, for a total transaction of $91,152.24. Following the completion of the sale, the chief financial officer now owns 141,517 shares in the company, valued at $421,720.66. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 150,202 shares of company stock worth $450,113. 41.32% of the stock is owned by corporate insiders.

Institutional Trading of Rimini Street

Several institutional investors and hedge funds have recently bought and sold shares of RMNI. Strs Ohio lifted its stake in Rimini Street by 34.4% in the 3rd quarter. Strs Ohio now owns 123,900 shares of the company's stock worth $272,000 after purchasing an additional 31,700 shares in the last quarter. Allspring Global Investments Holdings LLC raised its position in shares of Rimini Street by 26.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 62,456 shares of the company's stock valued at $137,000 after buying an additional 13,237 shares in the last quarter. Los Angeles Capital Management LLC raised its position in shares of Rimini Street by 75.6% during the 3rd quarter. Los Angeles Capital Management LLC now owns 119,990 shares of the company's stock valued at $264,000 after buying an additional 51,640 shares in the last quarter. Brooktree Capital Management raised its position in shares of Rimini Street by 43.6% during the 3rd quarter. Brooktree Capital Management now owns 2,817,829 shares of the company's stock valued at $6,199,000 after buying an additional 856,085 shares in the last quarter. Finally, Swiss National Bank raised its position in shares of Rimini Street by 11.0% during the 3rd quarter. Swiss National Bank now owns 127,000 shares of the company's stock valued at $279,000 after buying an additional 12,600 shares in the last quarter. 73.75% of the stock is currently owned by hedge funds and other institutional investors.

About Rimini Street

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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