Rimini Street (NASDAQ:RMNI) CFO Michael Perica Sells 53,882 Shares of Stock

Rimini Street, Inc. (NASDAQ:RMNI) CFO Michael Perica sold 53,882 shares of the stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $4.00, for a total transaction of $215,528.00. Following the completion of the transaction, the chief financial officer directly owned 92,150 shares in the company, valued at $368,600. The trade was a 36.90% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Rimini Street Stock Performance

Shares of NASDAQ:RMNI opened at $3.90 on Friday. The firm has a market capitalization of $357.83 million, a PE ratio of 8.48 and a beta of 1.19. Rimini Street, Inc. has a 52-week low of $2.50 and a 52-week high of $5.38. The firm has a fifty day moving average of $3.94 and a 200 day moving average of $4.25.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. TD Cowen dropped their target price on Rimini Street from $6.00 to $5.00 and set a “hold” rating for the company in a research report on Friday, October 31st. Weiss Ratings restated a “hold (c)” rating on shares of Rimini Street in a report on Monday, December 29th. Wall Street Zen lowered shares of Rimini Street from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Cowen reissued a “hold” rating on shares of Rimini Street in a research note on Friday, October 31st. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $5.75.

Institutional Investors Weigh In On Rimini Street

A number of large investors have recently made changes to their positions in RMNI. MetLife Investment Management LLC bought a new position in shares of Rimini Street during the first quarter valued at approximately $109,000. Cubist Systematic Strategies LLC purchased a new stake in Rimini Street in the first quarter worth about $134,000. AQR Capital Management LLC boosted its position in Rimini Street by 243.9% during the 1st quarter. AQR Capital Management LLC now owns 36,360 shares of the company’s stock valued at $127,000 after acquiring an additional 25,788 shares in the last quarter. Jacobs Levy Equity Management Inc. purchased a new position in shares of Rimini Street in the 1st quarter valued at approximately $271,000. Finally, NewEdge Advisors LLC bought a new position in Rimini Street in the first quarter worth $66,000. 73.75% of the stock is currently owned by institutional investors.

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.