Rimini Street’s (RMNI) Sell (D+) Rating Reaffirmed at Weiss Ratings

Rimini Street (NASDAQ:RMNI)‘s stock had its “sell (d+)” rating reissued by analysts at Weiss Ratings in a research report issued to clients and investors on Wednesday,Weiss Ratings reports.

A number of other equities analysts have also recently issued reports on RMNI. Wall Street Zen cut Rimini Street from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 2nd. Roth Capital set a $6.50 price objective on Rimini Street and gave the stock a “buy” rating in a report on Thursday, July 10th. Three research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $6.25.

Rimini Street Stock Up 1.1%

Rimini Street stock opened at $4.58 on Wednesday. Rimini Street has a 52 week low of $1.53 and a 52 week high of $5.38. The business has a 50-day simple moving average of $4.39 and a 200 day simple moving average of $3.91. The stock has a market cap of $423.74 million, a price-to-earnings ratio of -114.47 and a beta of 1.38.

Insider Transactions at Rimini Street

In other news, EVP Nancy Lyskawa sold 24,344 shares of the business’s stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $4.00, for a total value of $97,376.00. Following the completion of the sale, the executive vice president owned 160,609 shares of the company’s stock, valued at approximately $642,436. The trade was a 13.16% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Michael L. Perica sold 100,249 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $4.20, for a total value of $421,045.80. Following the completion of the sale, the chief financial officer directly owned 146,032 shares of the company’s stock, valued at approximately $613,334.40. This trade represents a 40.71% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 231,422 shares of company stock valued at $969,055. 41.20% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rimini Street

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Brooktree Capital Management lifted its stake in shares of Rimini Street by 0.4% in the 2nd quarter. Brooktree Capital Management now owns 3,902,223 shares of the company’s stock valued at $14,711,000 after acquiring an additional 15,770 shares during the last quarter. Acadian Asset Management LLC raised its position in Rimini Street by 2.2% during the 1st quarter. Acadian Asset Management LLC now owns 2,272,975 shares of the company’s stock valued at $7,906,000 after purchasing an additional 48,993 shares during the last quarter. Pacific Ridge Capital Partners LLC raised its position in Rimini Street by 3.5% during the 1st quarter. Pacific Ridge Capital Partners LLC now owns 1,599,149 shares of the company’s stock valued at $5,565,000 after purchasing an additional 53,478 shares during the last quarter. Geode Capital Management LLC raised its position in Rimini Street by 1.5% during the 2nd quarter. Geode Capital Management LLC now owns 1,234,075 shares of the company’s stock valued at $4,653,000 after purchasing an additional 18,808 shares during the last quarter. Finally, Samjo Management LLC raised its position in Rimini Street by 142.5% during the 2nd quarter. Samjo Management LLC now owns 485,000 shares of the company’s stock valued at $1,828,000 after purchasing an additional 285,000 shares during the last quarter. 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.