Rimini Street (NASDAQ:RMNI) CEO Seth Ravin Sells 3,080 Shares

Rimini Street, Inc. (NASDAQ:RMNI) CEO Seth Ravin sold 3,080 shares of the business’s stock in a transaction on Tuesday, March 3rd. The stock was sold at an average price of $3.72, for a total transaction of $11,457.60. Following the transaction, the chief executive officer owned 682,125 shares in the company, valued at approximately $2,537,505. The trade was a 0.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Rimini Street Price Performance

RMNI stock traded down $0.13 during trading hours on Friday, reaching $3.58. The stock had a trading volume of 197,675 shares, compared to its average volume of 365,487. The stock has a market capitalization of $328.14 million, a PE ratio of 8.95 and a beta of 1.28. The stock has a 50-day simple moving average of $3.58 and a 200 day simple moving average of $4.02. Rimini Street, Inc. has a fifty-two week low of $2.79 and a fifty-two week high of $5.38.

Analyst Upgrades and Downgrades

Several analysts have issued reports on RMNI shares. TD Cowen upgraded Rimini Street to a “hold” rating in a research note on Monday, February 23rd. Wall Street Zen downgraded shares of Rimini Street from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Rimini Street in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Rimini Street presently has a consensus rating of “Hold” and a consensus target price of $5.75.

Institutional Investors Weigh In On Rimini Street

A number of hedge funds and other institutional investors have recently modified their holdings of RMNI. Quarry LP bought a new stake in shares of Rimini Street in the third quarter valued at about $31,000. BNP Paribas Financial Markets boosted its holdings 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 purchasing an additional 4,891 shares during the period. SG Americas Securities LLC bought a new stake in Rimini Street in the 4th quarter valued at about $43,000. nVerses Capital LLC bought a new position in shares of Rimini Street during the fourth quarter worth approximately $57,000. Finally, Russell Investments Group Ltd. raised its position 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 valued at $69,000 after buying an additional 17,680 shares in the last quarter. Institutional investors and hedge funds own 73.75% of the company’s stock.

About Rimini Street

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.