Rimini Street, Inc. (NASDAQ:RMNI) Receives Consensus Rating of “Hold” from Brokerages

Rimini Street, Inc. (NASDAQ:RMNI) has received a consensus recommendation of “Hold” from the five research firms that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $5.75.

Several equities analysts recently issued reports on RMNI shares. Wall Street Zen downgraded shares of Rimini Street from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. TD Cowen cut their target price on shares of Rimini Street from $6.00 to $5.00 and set a “hold” rating for the company in a research note on Friday, October 31st. Weiss Ratings reissued a “hold (c)” rating on shares of Rimini Street in a report on Monday, December 29th. Finally, Cowen reaffirmed a “hold” rating on shares of Rimini Street in a report on Friday, October 31st.

Rimini Street Stock Performance

Shares of NASDAQ RMNI opened at $3.71 on Wednesday. Rimini Street has a 52-week low of $2.73 and a 52-week high of $5.38. The business has a fifty day moving average of $3.93 and a two-hundred day moving average of $4.25. The stock has a market cap of $340.39 million, a PE ratio of 8.07 and a beta of 1.19.

Insider Buying and Selling at Rimini Street

In related news, CFO Michael L. Perica sold 53,882 shares of Rimini Street stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $4.00, for a total value of $215,528.00. Following the completion of the transaction, the chief financial officer directly owned 92,150 shares of the company’s stock, valued at $368,600. The trade was a 36.90% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 41.20% of the company’s stock.

Hedge Funds Weigh In On Rimini Street

A number of large investors have recently modified their holdings of RMNI. Quarry LP acquired a new stake in shares of Rimini Street in the third quarter valued at approximately $31,000. SG Americas Securities LLC acquired a new position in Rimini Street during the 4th quarter worth $43,000. BNP Paribas Financial Markets boosted its position in Rimini Street by 96.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 9,944 shares of the company’s stock valued at $47,000 after buying an additional 4,891 shares during the last quarter. Belvedere Trading LLC acquired a new stake in shares of Rimini Street in the 2nd quarter valued at $64,000. Finally, NewEdge Advisors LLC bought a new stake in shares of Rimini Street during the first quarter worth $66,000. 73.75% of the stock is currently owned by institutional investors and hedge funds.

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.