Rimini Street, Inc. (NASDAQ:RMNI) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Rimini Street, Inc. (NASDAQ:RMNI) have been given a consensus rating of “Moderate Buy” by the six brokerages that are currently covering the firm, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $5.8333.

A number of research firms have recently issued reports on RMNI. Wall Street Zen cut shares of Rimini Street from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. TD Cowen cut their price objective on shares of Rimini Street from $6.00 to $5.00 and set a “hold” rating for the company in a research report on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rimini Street in a research report on Wednesday, November 19th. Finally, Cowen reissued a “hold” rating on shares of Rimini Street in a report on Friday, October 31st.

Insider Buying and Selling at Rimini Street

In other Rimini Street 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 in the company, valued at $613,334.40. This represents a 40.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In the last ninety days, insiders sold 207,817 shares of company stock worth $874,091. Corporate insiders own 41.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in RMNI. Banque Cantonale Vaudoise acquired a new stake in shares of Rimini Street during the first quarter valued at about $262,000. XTX Topco Ltd bought a new position in Rimini Street in the 1st quarter valued at approximately $99,000. Pacific Ridge Capital Partners LLC boosted 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 worth $5,565,000 after buying an additional 53,478 shares during the period. Bard Associates Inc. grew its holdings in Rimini Street by 2.1% during the 1st quarter. Bard Associates Inc. now owns 292,648 shares of the company’s stock worth $1,018,000 after acquiring an additional 6,141 shares during the last quarter. Finally, Nuveen LLC bought a new stake in Rimini Street during the 1st quarter worth approximately $473,000. Institutional investors own 73.75% of the company’s stock.

Rimini Street Price Performance

Shares of Rimini Street stock opened at $3.86 on Tuesday. The business has a fifty day simple moving average of $4.34 and a two-hundred day simple moving average of $4.10. Rimini Street has a 1 year low of $1.95 and a 1 year high of $5.38. The company has a market capitalization of $354.16 million, a price-to-earnings ratio of 8.39 and a beta of 1.37.

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.