Rimini Street, Inc. (NASDAQ:RMNI) Major Shareholder Gpiac, Llc Sells 81,232 Shares

Rimini Street, Inc. (NASDAQ:RMNI) major shareholder Gpiac, Llc sold 81,232 shares of Rimini Street stock in a transaction that occurred on Tuesday, August 24th. The shares were sold at an average price of $9.02, for a total transaction of $732,712.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Gpiac, Llc also recently made the following trade(s):

  • On Friday, September 10th, Gpiac, Llc sold 541,547 shares of Rimini Street stock. The shares were sold at an average price of $9.75, for a total transaction of $5,280,083.25.
  • On Wednesday, September 8th, Gpiac, Llc sold 1,137,249 shares of Rimini Street stock. The shares were sold at an average price of $9.92, for a total transaction of $11,281,510.08.
  • On Friday, August 27th, Gpiac, Llc sold 81,232 shares of Rimini Street stock. The stock was sold at an average price of $9.33, for a total transaction of $757,894.56.
  • On Thursday, August 5th, Gpiac, Llc sold 332,185 shares of Rimini Street stock. The stock was sold at an average price of $8.22, for a total transaction of $2,730,560.70.

RMNI stock traded down $0.07 during midday trading on Tuesday, hitting $9.62. The stock had a trading volume of 260,125 shares, compared to its average volume of 476,929. The firm has a market cap of $825.05 million, a P/E ratio of -34.36, a price-to-earnings-growth ratio of 2.77 and a beta of 0.64. Rimini Street, Inc. has a 1-year low of $3.04 and a 1-year high of $10.72. The business has a fifty day moving average price of $8.54 and a two-hundred day moving average price of $7.91.

Rimini Street (NASDAQ:RMNI) last announced its quarterly earnings data on Wednesday, August 4th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.15). Rimini Street had a negative net margin of 4.14% and a negative return on equity of 5.82%. The company had revenue of $91.61 million for the quarter, compared to analyst estimates of $89.77 million. Analysts predict that Rimini Street, Inc. will post 0.35 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Morgan Stanley raised its holdings in shares of Rimini Street by 22.5% during the second quarter. Morgan Stanley now owns 454,954 shares of the company’s stock valued at $2,803,000 after purchasing an additional 83,585 shares during the period. Invesco Ltd. raised its holdings in shares of Rimini Street by 9.9% during the second quarter. Invesco Ltd. now owns 14,853 shares of the company’s stock valued at $91,000 after purchasing an additional 1,334 shares during the period. Price T Rowe Associates Inc. MD acquired a new position in shares of Rimini Street during the second quarter valued at about $106,000. Prudential Financial Inc. acquired a new position in shares of Rimini Street during the second quarter valued at about $285,000. Finally, AQR Capital Management LLC raised its holdings in shares of Rimini Street by 933.6% during the second quarter. AQR Capital Management LLC now owns 244,396 shares of the company’s stock valued at $1,505,000 after purchasing an additional 220,751 shares during the period. Hedge funds and other institutional investors own 58.91% of the company’s stock.

RMNI has been the topic of a number of research reports. Cowen reaffirmed a “buy” rating and set a $13.50 target price on shares of Rimini Street in a research note on Friday, July 9th. Alliance Global Partners cut their price target on shares of Rimini Street from $12.00 to $10.00 and set a “buy” rating on the stock in a report on Thursday, August 5th. Roth Capital restated a “neutral” rating and issued a $8.00 target price (down previously from $15.00) on shares of Rimini Street in a report on Monday, May 17th. Finally, Zacks Investment Research upgraded shares of Rimini Street from a “sell” rating to a “hold” rating in a report on Saturday, August 21st. Two analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $11.10.

Rimini Street Company Profile

Rimini Street, Inc engages in the provision of enterprise software support products and services. It offers global tax, legal, and regulatory update, security support, proactive support, advanced technology, license advisory and onboarding and archiving services. The company was founded by Seth A. Ravin and Thomas C.

Featured Story: Conference Calls and Individual Investors

Insider Buying and Selling by Quarter for Rimini Street (NASDAQ:RMNI)

Receive News & Ratings for Rimini Street Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rimini Street and related companies with MarketBeat.com's FREE daily email newsletter.