Insider Selling: Rimini Street, Inc. (NASDAQ:RMNI) CFO Sells $21,865.23 in Stock

Rimini Street, Inc. (NASDAQ:RMNI) CFO Michael L. Perica sold 7,837 shares of the stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $2.79, for a total value of $21,865.23. Following the completion of the sale, the chief financial officer now directly owns 163,090 shares in the company, valued at approximately $455,021.10. This represents a 4.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Rimini Street Stock Performance

Shares of NASDAQ RMNI opened at $2.78 on Friday. Rimini Street, Inc. has a twelve month low of $1.53 and a twelve month high of $3.36. The company has a 50 day moving average of $2.60 and a 200 day moving average of $2.17.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. increased its holdings in Rimini Street by 2.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 457,181 shares of the company’s stock worth $1,221,000 after buying an additional 12,300 shares in the last quarter. Los Angeles Capital Management LLC boosted its holdings in shares of Rimini Street by 7.4% during the 4th quarter. Los Angeles Capital Management LLC now owns 276,025 shares of the company’s stock valued at $737,000 after acquiring an additional 18,906 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Rimini Street by 20.0% in the fourth quarter. Bank of New York Mellon Corp now owns 278,619 shares of the company’s stock worth $744,000 after acquiring an additional 46,511 shares during the period. SG Americas Securities LLC raised its holdings in shares of Rimini Street by 23.2% during the fourth quarter. SG Americas Securities LLC now owns 22,527 shares of the company’s stock valued at $60,000 after purchasing an additional 4,238 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its position in Rimini Street by 38.0% during the third quarter. JPMorgan Chase & Co. now owns 99,602 shares of the company’s stock valued at $184,000 after purchasing an additional 27,451 shares during the period. Hedge funds and other institutional investors own 73.75% of the company’s stock.

Analyst Ratings Changes

Separately, Craig Hallum raised shares of Rimini Street from a “hold” rating to a “buy” rating and increased their price objective for the company from $2.00 to $6.00 in a research report on Tuesday, December 17th.

About Rimini Street

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.