Rimini Street's (RMNI) Sell (D+) Rating Reaffirmed at Weiss Ratings

Key Points

• Rimini Street's stock has been reaffirmed with a "sell (D+)" rating by Weiss Ratings, indicating a bearish outlook from analysts.
• Despite the sell rating, Roth Capital set a target price of $6.50 on Rimini Street, providing a contrasting "buy" rating.
• Recent insider trading includes CFO Michael L. Perica selling over 100,000 shares, reflecting a significant decrease in his ownership stake.

Rimini Street (NASDAQ:RMNI - Get Free Report)'s stock had its "sell (d+)" rating reaffirmed by investment analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

Several other analysts have also issued reports on the company. Roth Capital set a $6.50 target price on Rimini Street and gave the company a "buy" rating in a research note on Thursday, July 10th. Wall Street Zen lowered Rimini Street from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Three analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, Rimini Street currently has a consensus rating of "Moderate Buy" and an average price target of $6.25.

Rimini Street Trading Up 1.1%

Shares of Rimini Street stock opened at $4.58 on Wednesday. The firm has a market capitalization of $423.74 million, a P/E ratio of -114.47 and a beta of 1.38. The business's fifty day simple moving average is $4.39 and its 200 day simple moving average is $3.91. Rimini Street has a 12 month low of $1.53 and a 12 month high of $5.38.

Insider Buying and Selling at Rimini Street

In other news, CFO Michael L. Perica sold 100,249 shares of Rimini Street stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $4.20, for a total value of $421,045.80. Following the completion of the transaction, the chief financial officer directly owned 146,032 shares in the company, valued at approximately $613,334.40. The trade was a 40.71% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nancy Lyskawa sold 24,344 shares of Rimini Street stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $4.00, for a total value of $97,376.00. Following the completion of the transaction, the executive vice president owned 160,609 shares of the company's stock, valued at approximately $642,436. This trade represents a 13.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 231,422 shares of company stock valued at $969,055. 41.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On Rimini Street

Several hedge funds have recently made changes to their positions in the stock. Brooktree Capital Management grew its position in shares of Rimini Street by 0.4% in the second quarter. Brooktree Capital Management now owns 3,902,223 shares of the company's stock valued at $14,711,000 after purchasing an additional 15,770 shares in the last quarter. Acadian Asset Management LLC grew its position in Rimini Street by 2.2% during the first quarter. Acadian Asset Management LLC now owns 2,272,975 shares of the company's stock worth $7,906,000 after buying an additional 48,993 shares in the last quarter. Pacific Ridge Capital Partners LLC grew its position in Rimini Street by 3.5% during the first quarter. Pacific Ridge Capital Partners LLC now owns 1,599,149 shares of the company's stock worth $5,565,000 after buying an additional 53,478 shares in the last quarter. Geode Capital Management LLC grew its position in Rimini Street by 1.5% during the second quarter. Geode Capital Management LLC now owns 1,234,075 shares of the company's stock worth $4,653,000 after buying an additional 18,808 shares in the last quarter. Finally, Samjo Management LLC grew its position in Rimini Street by 142.5% during the second quarter. Samjo Management LLC now owns 485,000 shares of the company's stock worth $1,828,000 after buying an additional 285,000 shares in the last quarter. 73.75% of the stock is currently owned by hedge funds and other institutional investors.

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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