Rimini Street (NASDAQ:RMNI) CMO David Rowe Sells 7,209 Shares

Rimini Street, Inc. (NASDAQ:RMNI) CMO David Rowe sold 7,209 shares of the firm’s stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $3.64, for a total value of $26,240.76. Following the completion of the transaction, the chief marketing officer directly owned 464,444 shares of the company’s stock, valued at $1,690,576.16. The trade was a 1.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Rimini Street Stock Down 2.4%

RMNI traded down $0.09 during trading on Friday, reaching $3.62. 457,035 shares of the company were exchanged, compared to its average volume of 453,446. Rimini Street, Inc. has a 12-month low of $2.79 and a 12-month high of $5.38. The company’s 50-day moving average is $3.57 and its two-hundred day moving average is $4.02. The company has a market cap of $331.81 million, a price-to-earnings ratio of 9.05 and a beta of 1.28.

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

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Rimini Street

Institutional investors have recently made changes to their positions in the stock. Boston Partners lifted its holdings in shares of Rimini Street by 37.1% during the 2nd quarter. Boston Partners now owns 347,915 shares of the company’s stock worth $1,312,000 after acquiring an additional 94,160 shares during the last quarter. Voss Capital LP purchased a new stake in Rimini Street during the second quarter valued at about $942,000. Samjo Management LLC lifted its stake in Rimini Street by 142.5% during the second quarter. Samjo Management LLC now owns 485,000 shares of the company’s stock worth $1,828,000 after purchasing an additional 285,000 shares during the last quarter. Brooktree Capital Management lifted its stake in Rimini Street by 0.4% during the second quarter. Brooktree Capital Management now owns 3,902,223 shares of the company’s stock worth $14,711,000 after purchasing an additional 15,770 shares during the last quarter. Finally, Formula Growth Ltd. purchased a new position in shares of Rimini Street in the 2nd quarter worth about $754,000. Institutional investors own 73.75% of the company’s stock.

Rimini Street Company Profile

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.