Insider Selling: Rimini Street (NASDAQ:RMNI) CFO Sells $90,559.56 in Stock

Rimini Street, Inc. (NASDAQ:RMNI) CFO Michael Perica sold 24,879 shares of the stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $3.64, for a total value of $90,559.56. Following the completion of the sale, the chief financial officer owned 117,655 shares of the company’s stock, valued at approximately $428,264.20. This represents a 17.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Rimini Street Price Performance

NASDAQ:RMNI opened at $3.62 on Monday. The business’s 50-day moving average is $3.57 and its two-hundred day moving average is $4.02. The firm has a market capitalization of $331.81 million, a PE ratio of 9.05 and a beta of 1.28. Rimini Street, Inc. has a 12 month low of $2.79 and a 12 month high of $5.38.

Hedge Funds Weigh In On Rimini Street

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RMNI. Quarry LP acquired a new stake in shares of Rimini Street during the third quarter valued at about $31,000. BNP Paribas Financial Markets lifted its stake in shares of Rimini Street by 96.8% in the third quarter. BNP Paribas Financial Markets now owns 9,944 shares of the company’s stock worth $47,000 after acquiring an additional 4,891 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Rimini Street in the fourth quarter worth about $43,000. nVerses Capital LLC purchased a new position in Rimini Street in the fourth quarter valued at about $57,000. Finally, Russell Investments Group Ltd. boosted its holdings in 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 purchasing an additional 17,680 shares during the last quarter. 73.75% of the stock is owned by hedge funds and other institutional investors.

Trending Headlines about Rimini Street

Here are the key news stories impacting Rimini Street this week:

• Positive Sentiment: Institutional investors have been adding to positions (Invesco, BNP Paribas, Barclays and others increased stakes), and institutions now own ~73.8% of the stock — a supportive sign of professional interest that can limit downside. MarketBeat Institutional & Insider Summary
• Neutral Sentiment: Analysts show a consensus “Hold” with a target around $5.75 (one Buy, two Holds). Valuation metrics (PE ~9, market cap ~ $330M) may attract value-oriented buyers, but the stock sits below its 200-day moving average, which mutes near-term bullish conviction. MarketBeat Analyst Coverage
• Negative Sentiment: Several senior insiders sold small blocks of shares on Mar 3 — CEO Seth Ravin (3,080 shares), CMO David Rowe (2,809), CFO Michael Perica (3,140) and other EVPs — each sale worth roughly $8–12k (at ~$3.72). Though the reductions are small percentage-wise (sub-4% for any single insider), clustered insider selling often pressures sentiment and can trigger short-term selling by other holders. InsiderTrades: Insider Selling Alert

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on RMNI shares. Weiss Ratings reiterated a “hold (c)” rating on shares of Rimini Street in a report on Monday, December 29th. TD Cowen upgraded Rimini Street to a “hold” rating in a report on Monday, February 23rd. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Rimini Street presently has an average rating of “Hold” and a consensus target price of $5.75.

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.