Rimini Street, Inc. (RMNI) – What Are Investment Firms Saying About This Stock?

Rimini Street, Inc. (NASDAQ:RMNI) has earned an average recommendation of “Moderate Buy” from the six ratings firms that are currently covering the stock, MarketBeat reports. Three research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $6.33.

RMNI has been the subject of a number of analyst reports. Wall Street Zen lowered Rimini Street from a “strong-buy” rating to a “buy” rating in a research report on Sunday, November 8th. Weiss Ratings reiterated a “hold (c)” rating on shares of Rimini Street in a research note on Friday, October 2nd. Roth Capital reissued a “buy” rating and issued a $6.50 price objective on shares of Rimini Street in a report on Thursday, July 30th. Finally, Craig Hallum reissued a “buy” rating and issued a $8.00 target price on shares of Rimini Street in a research note on Friday, July 31st.

Rimini Street Trading Down 1.1%

Shares of RMNI stock opened at $5.53 on Monday. Rimini Street has a 1 year low of $2.87 and a 1 year high of $5.68. The firm’s fifty day moving average price is $4.48 and its two-hundred day moving average price is $4.11. The firm has a market capitalization of $512.63 million, a P/E ratio of 29.42 and a beta of 1.27.

Rimini Street (NASDAQ:RMNI) last posted its quarterly earnings data on Thursday, October 29th. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. The company had revenue of $109.34 million during the quarter, compared to the consensus estimate of $110.82 million. Rimini Street had a net margin of 2.51% and a negative return on equity of 92.98%. As a group, equities research analysts forecast that Rimini Street will post 0.26 EPS for the current fiscal year.

Insider Activity

In other Rimini Street news, EVP Steven Hershkowitz sold 42,482 shares of Rimini Street stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $4.98, for a total transaction of $211,560.36. Following the completion of the transaction, the executive vice president directly owned 186,992 shares of the company’s stock, valued at $931,220.16. The trade was a 18.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Seth A. Ravin sold 191,702 shares of the business’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $5.18, for a total transaction of $993,016.36. Following the completion of the sale, the chief executive officer directly owned 10,299,607 shares of the company’s stock, valued at approximately $53,351,964.26. The trade was a 1.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 370,073 shares of company stock worth $1,889,307 over the last 90 days. 42.00% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Empowered Funds LLC acquired a new position in shares of Rimini Street in the 3rd quarter worth approximately $209,000. Advisors Asset Management Inc. purchased a new position in Rimini Street during the third quarter worth about $116,000. Royce & Associates LP purchased a new stake in shares of Rimini Street during the 3rd quarter valued at $58,000. Russell Investments Group Ltd. boosted its stake in Rimini Street by 43.0% in the third quarter. Russell Investments Group Ltd. now owns 80,668 shares of the company’s stock valued at $339,000 after acquiring an additional 24,272 shares during the last quarter. Finally, CenterBook Partners LP raised its stake in shares of Rimini Street by 34.5% in the third quarter. CenterBook Partners LP now owns 418,106 shares of the company’s stock valued at $1,781,000 after buying an additional 107,284 shares during the period. Institutional investors and hedge funds own 73.75% of the company’s stock.

About Rimini Street

Rimini Street, Inc. is a provider of enterprise software support and services. The company offers third-party support for software from vendors including Oracle and SAP, as well as support for other enterprise applications and databases. Its services are designed to help organizations maintain and manage their existing software systems. Rimini Street also provides managed services, application management, security services and advisory support. The company serves clients internationally across a range of industries.