Rimini Street, Inc. (NASDAQ:RMNI) CEO Sells $244,571.58 in Stock

Rimini Street, Inc. (NASDAQ:RMNI) CEO Seth A. Ravin sold 82,071 shares of the stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $2.98, for a total transaction of $244,571.58. Following the transaction, the chief executive officer now directly owns 425,955 shares of the company’s stock, valued at approximately $1,269,345.90. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Rimini Street Stock Performance

NASDAQ:RMNI opened at $3.04 on Wednesday. The stock has a market capitalization of $273.30 million, a P/E ratio of 10.48 and a beta of 1.23. The company has a 50 day moving average price of $3.14 and a 200 day moving average price of $2.96. Rimini Street, Inc. has a fifty-two week low of $2.01 and a fifty-two week high of $5.32.

Rimini Street (NASDAQ:RMNI) last issued its quarterly earnings results on Wednesday, February 28th. The company reported $0.15 EPS for the quarter, beating the consensus estimate of $0.09 by $0.06. Rimini Street had a net margin of 6.04% and a negative return on equity of 63.89%. The company had revenue of $112.11 million during the quarter, compared to analysts’ expectations of $105.95 million. Research analysts forecast that Rimini Street, Inc. will post 0.37 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Rimini Street

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RMNI. Tower Research Capital LLC TRC boosted its position in Rimini Street by 78.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 9,569 shares of the company’s stock valued at $31,000 after buying an additional 4,221 shares during the period. US Bancorp DE purchased a new position in Rimini Street in the 4th quarter valued at approximately $32,000. Point72 Hong Kong Ltd purchased a new position in Rimini Street in the 1st quarter valued at approximately $33,000. SG Americas Securities LLC purchased a new position in Rimini Street in the 4th quarter valued at approximately $39,000. Finally, Quantbot Technologies LP purchased a new position in Rimini Street in the 1st quarter valued at approximately $49,000. Hedge funds and other institutional investors own 73.75% of the company’s stock.

Rimini Street Company Profile

Rimini Street, Inc provides enterprise software products, services, and support. The company engages in the provision of support services for Oracle and SAP enterprise software products. It also provides Rimini ONE, an outsourcing option that offers a set of unified and integrated services to run, manage, support, customize, configure, connect, protect, monitor, and optimize its clients' application, database, and technology enterprise software; Rimini Support, a mission-critical support for Oracle, SAP, proprietary and open-source database, and technology software; Rimini Manage, a suite of managed services for application and database software; Rimini Protect, a suite of personalized software security services and solutions; and Rimini Connect, a suite of managed interoperability solutions for browsers, operating systems, and email systems.