Rimini Street (NASDAQ:RMNI) EVP Nancy Lyskawa Sells 5,995 Shares of Stock

Rimini Street, Inc. (NASDAQ:RMNI) EVP Nancy Lyskawa sold 5,995 shares of the firm’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $3.94, for a total value of $23,620.30. Following the completion of the sale, the executive vice president directly owned 233,509 shares of the company’s stock, valued at approximately $920,025.46. This trade represents a 2.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Nancy Lyskawa also recently made the following trade(s):

• On Wednesday, March 4th, Nancy Lyskawa sold 5,337 shares of Rimini Street stock. The shares were sold at an average price of $3.64, for a total value of $19,426.68.
• On Tuesday, March 3rd, Nancy Lyskawa sold 2,348 shares of Rimini Street stock. The shares were sold at an average price of $3.72, for a total value of $8,734.56.

Rimini Street Stock Performance

Rimini Street stock opened at $4.02 on Friday. The company has a market cap of $372.09 million, a P/E ratio of 10.86 and a beta of 1.27. Rimini Street, Inc. has a one year low of $2.87 and a one year high of $5.38. The business has a fifty day moving average of $3.46 and a two-hundred day moving average of $3.70.

Analysts Set New Price Targets

Several research analysts have recently issued reports on RMNI shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Rimini Street in a research note on Friday, March 27th. Alliance Global Partners reaffirmed a “buy” rating on shares of Rimini Street in a research note on Friday, May 1st. Zacks Research downgraded Rimini Street from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Finally, TD Cowen lifted their price target on Rimini Street from $4.00 to $4.50 and gave the stock a “hold” rating in a research note on Monday. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $5.50.

Hedge Funds Weigh In On Rimini Street

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BNP Paribas Financial Markets boosted its holdings in Rimini Street by 96.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 9,944 shares of the company’s stock worth $47,000 after acquiring an additional 4,891 shares during the period. Invesco Ltd. boosted its holdings in Rimini Street by 37.2% in the 4th quarter. Invesco Ltd. now owns 22,105 shares of the company’s stock worth $86,000 after acquiring an additional 5,998 shares during the period. Quarry LP purchased a new position in Rimini Street in the 3rd quarter worth approximately $31,000. Barclays PLC boosted its holdings in Rimini Street by 10.6% in the 4th quarter. Barclays PLC now owns 75,893 shares of the company’s stock worth $294,000 after acquiring an additional 7,271 shares during the period. Finally, Occudo Quantitative Strategies LP boosted its holdings in Rimini Street by 32.5% in the 2nd quarter. Occudo Quantitative Strategies LP now owns 32,596 shares of the company’s stock worth $123,000 after acquiring an additional 7,998 shares during the period. Hedge funds and other institutional investors own 73.75% of the company’s stock.

Rimini Street News Summary

Here are the key news stories impacting Rimini Street this week:

• Positive Sentiment: Several executive stock sales were explicitly disclosed as transactions made to cover tax withholding obligations from vesting equity awards, which can reduce concern that insiders are cashing out for negative reasons. SEC filing for Nancy Lyskawa sale
• Positive Sentiment: Rimini Street’s stock has been trading above both its 50-day and 200-day moving averages, suggesting recent momentum has improved versus earlier in the year.
• Neutral Sentiment: EVP Nancy Lyskawa sold 5,995 shares, EVP Kevin Maddock sold 7,485 shares, CMO David W. Rowe sold 7,485 shares, and CFO Michael L. Perica sold 27,737 shares at $3.94 per share; all were reported as tax-withholding sales related to vesting equity awards. SEC filing for Kevin Maddock sale SEC filing for David W. Rowe sale SEC filing for Michael L. Perica sale
• Negative Sentiment: Zacks Research downgraded Rimini Street from “hold” to “strong sell,” which is likely weighing on sentiment and may pressure the shares. Zacks downgrade article

About Rimini Street

Rimini Street, Inc (NASDAQ: RMNI) is a provider of enterprise software support services, specializing in third-party maintenance for mission-critical applications from leading technology vendors. The company offers comprehensive support for ERP, CRM and database environments, with coverage for systems from providers such as Oracle and SAP. Through its proactive system monitoring, performance tuning, regulatory and tax update services, Rimini Street aims to extend the lifecycle of enterprise applications while delivering service levels comparable to or exceeding those of original software vendors.

Founded in 2005 by technology entrepreneur Seth Ravin, Rimini Street has grown from a startup into a publicly traded company following its initial public offering in March 2018.