Wall Street Zen cut shares of Rimini Street (NASDAQ:RMNI - Free Report) from a strong-buy rating to a buy rating in a report issued on Saturday.
Separately, Roth Capital set a $6.50 target price on shares of Rimini Street and gave the company a "buy" rating in a research report on Thursday, July 10th.
Check Out Our Latest Report on Rimini Street
Rimini Street Stock Down 1.2%
Shares of Rimini Street stock traded down $0.05 during trading on Friday, reaching $4.11. The company's stock had a trading volume of 604,714 shares, compared to its average volume of 332,988. The firm has a market cap of $377.26 million, a PE ratio of -102.72 and a beta of 1.34. Rimini Street has a 52 week low of $1.53 and a 52 week high of $5.38. The business's 50-day moving average price is $3.93 and its 200-day moving average price is $3.55.
Insider Activity at Rimini Street
In related news, CEO Seth A. Ravin sold 61,292 shares of the stock in a transaction on Tuesday, May 6th. The shares were sold at an average price of $3.28, for a total transaction of $201,037.76. Following the transaction, the chief executive officer directly owned 652,696 shares of the company's stock, valued at $2,140,842.88. This represents a 8.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Michael L. Perica sold 28,319 shares of the stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $3.28, for a total transaction of $92,886.32. Following the transaction, the chief financial officer directly owned 237,361 shares in the company, valued at approximately $778,544.08. This represents a 10.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 103,351 shares of company stock valued at $338,991. Corporate insiders own 41.20% of the company's stock.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the business. Financial Management Professionals Inc. bought a new position in shares of Rimini Street in the first quarter valued at $44,000. ProShare Advisors LLC raised 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 valued at $40,000 after buying an additional 4,918 shares during the period. Squarepoint Ops LLC purchased a new position in shares of Rimini Street in the fourth quarter worth about $40,000. Belvedere Trading LLC purchased a new position in shares of Rimini Street in the second quarter worth about $64,000. Finally, NewEdge Advisors LLC purchased a new position in Rimini Street during the first quarter valued at approximately $66,000. 73.75% of the stock is owned by institutional investors.
About Rimini Street
(
Get Free Report)
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.
Recommended Stories
Before you consider Rimini Street, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Rimini Street wasn't on the list.
While Rimini Street currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of seven stocks and why their long-term outlooks are very promising.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.