Rimini Street (NASDAQ:RMNI) PT Lowered to $4.50 at Alliance Global Partners

Rimini Street (NASDAQ:RMNI) had its price target lowered by Alliance Global Partners from $5.50 to $4.50 in a research report released on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Rimini Street Trading Down 2.3 %

Shares of Rimini Street stock opened at $2.55 on Friday. Rimini Street has a twelve month low of $2.01 and a twelve month high of $5.32. The stock has a market cap of $230.55 million, a price-to-earnings ratio of 10.63 and a beta of 1.27. The company has a fifty day moving average price of $3.01 and a 200 day moving average price of $3.04.

Rimini Street (NASDAQ:RMNI) last posted its earnings results on Wednesday, February 28th. The company reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.06. The business had revenue of $112.11 million during the quarter, compared to analyst estimates of $105.95 million. Rimini Street had a negative return on equity of 66.46% and a net margin of 5.02%. Analysts forecast that Rimini Street will post 0.35 earnings per share for the current year.

Insider Transactions at Rimini Street

In related news, CEO Seth A. Ravin sold 82,071 shares of the firm’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $2.98, for a total transaction of $244,571.58. Following the completion of the sale, the chief executive officer now directly owns 425,955 shares of the company’s stock, valued at approximately $1,269,345.90. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Rimini Street news, CEO Seth A. Ravin sold 82,071 shares of the stock in a transaction on Monday, April 8th. The shares were sold at an average price of $2.98, for a total transaction of $244,571.58. Following the transaction, the chief executive officer now directly owns 425,955 shares in the company, valued at approximately $1,269,345.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Michael L. Perica sold 30,588 shares of the business’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $2.98, for a total transaction of $91,152.24. Following the completion of the sale, the chief financial officer now directly owns 141,517 shares of the company’s stock, valued at approximately $421,720.66. The disclosure for this sale can be found here. Over the last three months, insiders have sold 138,901 shares of company stock valued at $413,950. Corporate insiders own 41.32% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the company. Brooktree Capital Management increased its holdings in shares of Rimini Street by 43.6% in the 3rd quarter. Brooktree Capital Management now owns 2,817,829 shares of the company’s stock worth $6,199,000 after acquiring an additional 856,085 shares during the period. Ballast Asset Management LP acquired a new stake in shares of Rimini Street in the third quarter valued at approximately $1,104,000. GSA Capital Partners LLP raised its holdings in shares of Rimini Street by 193.0% during the third quarter. GSA Capital Partners LLP now owns 576,428 shares of the company’s stock valued at $1,268,000 after buying an additional 379,709 shares during the last quarter. Steamboat Capital Partners LLC acquired a new position in shares of Rimini Street during the third quarter worth approximately $772,000. Finally, Acadian Asset Management LLC grew its holdings in Rimini Street by 30.6% in the 3rd quarter. Acadian Asset Management LLC now owns 1,358,364 shares of the company’s stock worth $2,987,000 after buying an additional 318,029 shares in the last quarter. Institutional investors own 73.75% of the company’s stock.

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.