Rimini Street, Inc. (RMNI) – What Are Brokerages Saying About This Stock?

Shares of Rimini Street, Inc. (NASDAQ:RMNI) have received an average recommendation of “Moderate Buy” from the six analysts that are presently covering the company, MarketBeat Ratings reports. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $6.33.

Several research firms have weighed in on RMNI. Craig Hallum restated a “buy” rating and set a $8.00 target price on shares of Rimini Street in a report on Friday, July 31st. Roth Capital reiterated a “buy” rating and set a $6.50 price target on shares of Rimini Street in a research note on Thursday, July 30th. Wall Street Zen downgraded Rimini Street from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Rimini Street in a report on Friday, October 2nd.

Rimini Street Stock Performance

RMNI stock opened at $5.22 on Monday. Rimini Street has a 1 year low of $2.87 and a 1 year high of $5.68. The company has a fifty day simple moving average of $4.46 and a 200 day simple moving average of $4.07. The firm has a market cap of $483.89 million, a PE ratio of 43.50 and a beta of 1.27.

Rimini Street (NASDAQ:RMNI) last issued its quarterly earnings data on Thursday, October 29th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.03. The firm had revenue of $109.34 million during the quarter, compared to analysts’ expectations of $110.82 million. Rimini Street had a net margin of 2.51% and a negative return on equity of 92.98%. As a group, analysts forecast that Rimini Street will post 0.26 EPS for the current fiscal year.

Insider Buying and Selling

In other Rimini Street news, CEO Seth Ravin sold 89,639 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $5.02, for a total transaction of $449,987.78. Following the completion of the sale, the chief executive officer owned 10,168,602 shares of the company’s stock, valued at $51,046,382.04. This represents a 0.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Steven Hershkowitz sold 42,482 shares of the stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $4.98, for a total value of $211,560.36. Following the transaction, the executive vice president owned 186,992 shares in the company, valued at approximately $931,220.16. This trade represents a 18.51% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 370,073 shares of company stock valued at $1,889,307 in the last ninety days. Company insiders own 42.00% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RMNI. Bank of New York Mellon Corp bought a new position in Rimini Street in the 2nd quarter worth $975,000. Conifer Management L.L.C. acquired a new position in Rimini Street during the 2nd quarter worth $25,190,228. BlackRock Inc. acquired a new position in Rimini Street during the 2nd quarter worth $15,729,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Rimini Street during the second quarter valued at about $957,000. Finally, Bard Associates Inc. bought a new stake in Rimini Street during the second quarter valued at about $1,094,000. 73.75% of the stock is currently owned by institutional investors and hedge funds.

About Rimini Street

Rimini Street, Inc provides enterprise software support, products and services for organizations using business applications and database systems. The company is best known for third-party support for software from Oracle, SAP and other enterprise technology providers, helping customers maintain existing systems while reducing the need for frequent upgrades.

Its offerings include application management, database support, interoperability services, security services, managed services and professional services.