Rimini Street, Inc. (NASDAQ:RMNI) Receives Consensus Rating of “Hold” from Analysts

Rimini Street, Inc. (NASDAQ:RMNI) has earned an average recommendation of “Hold” from the six research firms that are currently covering the firm, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $5.8333.

RMNI has been the subject of a number of recent research reports. Wall Street Zen lowered Rimini Street from a “strong-buy” rating to a “buy” rating in a research note on Saturday, August 2nd. Cowen reiterated a “hold” rating on shares of Rimini Street in a research report on Friday, October 31st. Roth Capital set a $6.50 price target on Rimini Street and gave the company a “buy” rating in a report on Thursday, July 10th. TD Cowen dropped their price objective on shares of Rimini Street from $6.00 to $5.00 and set a “hold” rating on the stock in a research note on Friday, October 31st. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Rimini Street in a report on Wednesday, October 8th.

Insider Buying and Selling at Rimini Street

In other news, CFO Michael L. Perica sold 100,249 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $4.20, for a total transaction of $421,045.80. Following the sale, the chief financial officer directly owned 146,032 shares of the company’s stock, valued at $613,334.40. This represents a 40.71% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders have sold a total of 205,366 shares of company stock valued at $864,728 in the last three months. Corporate insiders own 41.20% of the company’s stock.

Institutional Investors Weigh In On Rimini Street

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Belvedere Trading LLC purchased a new position in Rimini Street during the second quarter valued at $64,000. Russell Investments Group Ltd. raised 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. NewEdge Advisors LLC acquired a new position in shares of Rimini Street during the 1st quarter worth about $66,000. Public Employees Retirement System of Ohio lifted its stake in Rimini Street by 899.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 23,446 shares of the company’s stock valued at $88,000 after buying an additional 21,100 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Rimini Street during the 2nd quarter worth approximately $90,000. Hedge funds and other institutional investors own 73.75% of the company’s stock.

Rimini Street Price Performance

Shares of Rimini Street stock opened at $3.86 on Friday. The stock has a market cap of $354.16 million, a PE ratio of 8.39 and a beta of 1.37. The firm has a fifty day moving average price of $4.48 and a 200 day moving average price of $4.05. Rimini Street has a 1 year low of $1.84 and a 1 year high of $5.38.

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.