Michael Perica Sells 3,140 Shares of Rimini Street (NASDAQ:RMNI) Stock

Rimini Street, Inc. (NASDAQ:RMNI) CFO Michael Perica sold 3,140 shares of Rimini Street stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $3.72, for a total transaction of $11,680.80. Following the completion of the sale, the chief financial officer owned 95,677 shares of the company’s stock, valued at $355,918.44. This trade represents a 3.18% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Rimini Street Stock Down 2.4%

RMNI opened at $3.62 on Friday. Rimini Street, Inc. has a 52 week low of $2.79 and a 52 week high of $5.38. The business has a fifty day simple moving average of $3.57 and a 200-day simple moving average of $4.02. The firm has a market cap of $331.81 million, a P/E ratio of 9.05 and a beta of 1.28.

Rimini Street News Roundup

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 Upgrades and Downgrades

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

Hedge Funds Weigh In On Rimini Street

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP purchased a new stake in shares of Rimini Street during the third quarter worth approximately $31,000. BNP Paribas Financial Markets grew its holdings in Rimini Street by 96.8% during the 3rd quarter. BNP Paribas Financial Markets now owns 9,944 shares of the company’s stock worth $47,000 after acquiring an additional 4,891 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Rimini Street in the 4th quarter valued at $43,000. nVerses Capital LLC purchased a new stake in shares of Rimini Street during the 4th quarter worth $57,000. Finally, Russell Investments Group Ltd. lifted its position in shares of Rimini Street by 3,393.5% during the 2nd quarter. Russell Investments Group Ltd. now owns 18,201 shares of the company’s stock worth $69,000 after purchasing an additional 17,680 shares during the last quarter. 73.75% of the stock is owned by institutional investors and hedge funds.

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.