Seth Ravin Sells 52,085 Shares of Rimini Street (NASDAQ:RMNI) Stock

Rimini Street, Inc. (NASDAQ:RMNI) CEO Seth Ravin sold 52,085 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $3.64, for a total transaction of $189,589.40. Following the sale, the chief executive officer directly owned 722,564 shares of the company’s stock, valued at $2,630,132.96. The trade was a 6.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Rimini Street Trading Down 2.4%

NASDAQ RMNI opened at $3.62 on Friday. The firm’s fifty day simple moving average is $3.57 and its two-hundred day simple moving average is $4.02. The firm 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.

Institutional Trading of Rimini Street

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RMNI. Invesco Ltd. increased its holdings in shares of Rimini Street by 37.2% in the fourth 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 period. nVerses Capital LLC acquired a new stake in shares of Rimini Street during the fourth quarter worth about $57,000. Oxford Asset Management LLP purchased a new stake in Rimini Street in the fourth quarter valued at approximately $127,000. Millennium Management LLC increased its holdings in Rimini Street by 49.0% in the 4th quarter. Millennium Management LLC now owns 70,834 shares of the company’s stock worth $275,000 after buying an additional 23,286 shares during the period. Finally, Manatuck Hill Partners LLC increased its holdings in Rimini Street by 5.7% in the 4th quarter. Manatuck Hill Partners LLC now owns 639,115 shares of the company’s stock worth $2,480,000 after buying an additional 34,475 shares during the period. Institutional investors and hedge funds own 73.75% of the company’s stock.

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

Analyst Ratings Changes

RMNI has been the subject of several recent analyst reports. TD Cowen raised Rimini Street to a “hold” rating in a report on Monday, February 23rd. Wall Street Zen downgraded shares of Rimini Street from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Rimini Street in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $5.75.

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.