Short Interest in Rimini Street, Inc. (NASDAQ:RMNI) Drops By 15.3%

Rimini Street, Inc. (NASDAQ:RMNI - Get Free Report) saw a large decrease in short interest during the month of May. As of May 15th, there was short interest totalling 684,600 shares, a decrease of 15.3% from the April 30th total of 807,900 shares. Based on an average daily trading volume, of 295,200 shares, the short-interest ratio is presently 2.3 days. Currently, 1.4% of the company's stock are sold short.

Insider Buying and Selling

In other news, CFO Michael L. Perica sold 28,319 shares of Rimini Street stock in a transaction dated Tuesday, May 6th. The stock was sold at an average price of $3.28, for a total value of $92,886.32. Following the completion of the transaction, the chief financial officer now owns 237,361 shares of the company's stock, valued at $778,544.08. The trade was a 10.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Steven Hershkowitz sold 24,974 shares of the stock in a transaction dated Wednesday, April 30th. The shares were sold at an average price of $3.47, for a total transaction of $86,659.78. Following the sale, the executive vice president now directly owns 75,025 shares in the company, valued at $260,336.75. This trade represents a 24.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 128,325 shares of company stock worth $425,651 in the last 90 days. Insiders own 41.20% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of RMNI. SG Americas Securities LLC raised its position in Rimini Street by 23.2% in the 4th quarter. SG Americas Securities LLC now owns 22,527 shares of the company's stock worth $60,000 after buying an additional 4,238 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Rimini Street by 6.4% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 73,906 shares of the company's stock valued at $198,000 after acquiring an additional 4,477 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of Rimini Street by 49.1% in the fourth quarter. ProShare Advisors LLC now owns 14,942 shares of the company's stock worth $40,000 after acquiring an additional 4,918 shares during the period. Ameriprise Financial Inc. raised its holdings in shares of Rimini Street by 7.9% during the fourth quarter. Ameriprise Financial Inc. now owns 82,772 shares of the company's stock valued at $221,000 after purchasing an additional 6,056 shares during the last quarter. Finally, Bard Associates Inc. lifted its position in Rimini Street by 2.1% during the first quarter. Bard Associates Inc. now owns 292,648 shares of the company's stock valued at $1,018,000 after purchasing an additional 6,141 shares during the period. 73.75% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Alliance Global Partners raised shares of Rimini Street from a "neutral" rating to a "buy" rating in a report on Friday, February 28th.

Rimini Street Stock Down 0.3%

Shares of Rimini Street stock traded down $0.01 on Friday, reaching $3.17. The company's stock had a trading volume of 634,179 shares, compared to its average volume of 289,944. The company has a market capitalization of $290.96 million, a price-to-earnings ratio of -8.57 and a beta of 1.33. The firm's fifty day simple moving average is $3.31 and its two-hundred day simple moving average is $3.07. Rimini Street has a 52 week low of $1.53 and a 52 week high of $4.15.

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.