Insider Selling: Rimini Street Inc (NASDAQ:RMNI) SVP Sells 16,500 Shares of Stock

Rimini Street Inc (NASDAQ:RMNI) SVP Kevin Maddock sold 16,500 shares of the business’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $4.77, for a total value of $78,705.00.

Shares of NASDAQ:RMNI opened at $4.78 on Thursday. The company has a market capitalization of $318.69 million and a price-to-earnings ratio of 36.85. The business’s 50-day moving average is $4.79 and its 200-day moving average is $5.02. Rimini Street Inc has a 1 year low of $4.33 and a 1 year high of $7.46.

Rimini Street (NASDAQ:RMNI) last announced its quarterly earnings data on Thursday, August 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.05). The business had revenue of $67.96 million during the quarter, compared to analyst estimates of $67.35 million. Rimini Street had a negative net margin of 15.41% and a negative return on equity of 8.20%. Research analysts predict that Rimini Street Inc will post 0.21 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in RMNI. Kingstown Capital Management L.P. increased its position in Rimini Street by 2.4% in the 2nd quarter. Kingstown Capital Management L.P. now owns 1,152,067 shares of the company’s stock valued at $6,106,000 after buying an additional 27,067 shares in the last quarter. Marshall Wace LLP bought a new stake in Rimini Street in the 2nd quarter valued at about $84,000. Rock Creek Group LP bought a new stake in Rimini Street in the 2nd quarter valued at about $1,670,000. Vanguard Group Inc. increased its position in Rimini Street by 53.3% in the 2nd quarter. Vanguard Group Inc. now owns 903,772 shares of the company’s stock valued at $4,790,000 after buying an additional 314,226 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. bought a new stake in Rimini Street in the 2nd quarter valued at about $153,000. 44.70% of the stock is currently owned by institutional investors.

Separately, Zacks Investment Research raised Rimini Street from a “hold” rating to a “buy” rating and set a $5.25 price objective on the stock in a research note on Friday, August 16th.

Rimini Street Company Profile

Rimini Street, Inc provides enterprise software products and services for various industries. The company offers third-party support for Oracle and SAP software products. It sells its solutions primarily through direct sales organizations in North America, Latin America, Europe, Africa, the Middle East, Asia, and the Asia-Pacific.

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Insider Buying and Selling by Quarter for Rimini Street (NASDAQ:RMNI)

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