Insider Selling: Rimini Street (NASDAQ:RMNI) EVP Sells 7,209 Shares of Stock

Rimini Street, Inc. (NASDAQ:RMNI) EVP Kevin Maddock sold 7,209 shares of the company’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $3.64, for a total transaction of $26,240.76. Following the completion of the transaction, the executive vice president owned 184,217 shares in the company, valued at approximately $670,549.88. The trade was a 3.77% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Kevin Maddock also recently made the following trade(s):

• On Tuesday, March 3rd, Kevin Maddock sold 2,809 shares of Rimini Street stock. The shares were sold at an average price of $3.72, for a total transaction of $10,449.48.

Rimini Street Stock Down 2.4%

Rimini Street stock traded down $0.09 during trading hours on Friday, hitting $3.62. The stock had a trading volume of 457,035 shares, compared to its average volume of 453,446. The stock’s 50-day moving average price is $3.57 and its 200-day moving average price is $4.02. The stock has a market capitalization of $331.81 million, a P/E 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.

Key Headlines Impacting 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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of RMNI. Invesco Ltd. increased its position in shares of Rimini Street by 37.2% during the 4th quarter. Invesco Ltd. now owns 22,105 shares of the company’s stock valued at $86,000 after purchasing an additional 5,998 shares during the last quarter. nVerses Capital LLC purchased a new position in shares of Rimini Street in the fourth quarter worth approximately $57,000. Oxford Asset Management LLP bought a new stake in Rimini Street during the fourth quarter valued at approximately $127,000. Millennium Management LLC increased its holdings in Rimini Street by 49.0% during the fourth quarter. Millennium Management LLC now owns 70,834 shares of the company’s stock valued at $275,000 after buying an additional 23,286 shares during the last quarter. Finally, Manatuck Hill Partners LLC increased its holdings in Rimini Street by 5.7% during the fourth quarter. Manatuck Hill Partners LLC now owns 639,115 shares of the company’s stock valued at $2,480,000 after buying an additional 34,475 shares during the last quarter. 73.75% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RMNI has been the subject of a number of research analyst reports. TD Cowen raised Rimini Street to a “hold” rating in a report on Monday, February 23rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Rimini Street in a research report on Monday, December 29th. Finally, Wall Street Zen lowered Rimini Street from a “buy” rating to a “hold” rating in a research report on Saturday, November 8th. One research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target 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.