Rimini Street, Inc. (NASDAQ:RMNI) Given Consensus Recommendation of "Hold" by Brokerages

Shares of Rimini Street, Inc. (NASDAQ:RMNI - Get Free Report) have been assigned an average recommendation of "Hold" from the five analysts that are presently covering the firm, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating on the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $5.50.

A number of equities analysts have recently commented on RMNI shares. Weiss Ratings restated a "hold (c)" rating on shares of Rimini Street in a report on Friday, March 27th. Alliance Global Partners reissued a "buy" rating on shares of Rimini Street in a research report on Friday, May 1st. Zacks Research lowered shares of Rimini Street from a "hold" rating to a "strong sell" rating in a report on Tuesday. Finally, TD Cowen lifted their price target on shares of Rimini Street from $4.00 to $4.50 and gave the company a "hold" rating in a research report on Monday.

Insiders Place Their Bets

In related news, EVP Steven Hershkowitz sold 24,884 shares of Rimini Street stock in a transaction on Thursday, April 30th. The shares were sold at an average price of $3.87, for a total transaction of $96,301.08. Following the transaction, the executive vice president owned 186,992 shares in the company, valued at approximately $723,659.04. The trade was a 11.74% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Seth A. Ravin sold 52,085 shares of the company's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $3.64, for a total transaction of $189,589.40. Following the sale, the chief executive officer directly owned 722,564 shares of the company's stock, valued at approximately $2,630,132.96. This trade represents a 6.72% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 192,376 shares of company stock worth $725,533. 41.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in RMNI. Quarry LP acquired a new stake in Rimini Street during the 3rd quarter valued at $31,000. BNP Paribas Financial Markets grew its stake in shares of Rimini Street by 96.8% during the third quarter. BNP Paribas Financial Markets now owns 9,944 shares of the company's stock valued at $47,000 after acquiring an additional 4,891 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of Rimini Street during the fourth quarter worth about $43,000. nVerses Capital LLC acquired a new position in shares of Rimini Street in the fourth quarter worth about $57,000. Finally, Russell Investments Group Ltd. lifted its stake in shares of Rimini Street by 3,393.5% in the second quarter. Russell Investments Group Ltd. now owns 18,201 shares of the company's stock worth $69,000 after acquiring an additional 17,680 shares in the last quarter. 73.75% of the stock is owned by institutional investors and hedge funds.

Rimini Street Trading Down 0.3%

Shares of Rimini Street stock opened at $3.88 on Thursday. The business's fifty day moving average price is $3.45 and its 200 day moving average price is $3.70. Rimini Street has a twelve month low of $2.87 and a twelve month high of $5.38. The stock has a market capitalization of $359.13 million, a P/E ratio of 10.49 and a beta of 1.27.

Rimini Street Company Profile

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.

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