Rimini Street (NASDAQ:RMNI) EVP Sells 7,209 Shares

Rimini Street, Inc. (NASDAQ:RMNI) EVP Kevin Maddock sold 7,209 shares of the business’s stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $3.64, for a total transaction of $26,240.76. Following the sale, the executive vice president directly owned 184,217 shares of the company’s stock, valued at approximately $670,549.88. The trade was a 3.77% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Kevin Maddock also recently made the following trade(s):

• On Tuesday, March 3rd, Kevin Maddock sold 2,809 shares of Rimini Street stock. The shares were sold at an average price of $3.72, for a total value of $10,449.48.

Rimini Street Stock Down 2.4%

NASDAQ:RMNI traded down $0.09 during mid-day trading on Friday, hitting $3.62. 457,035 shares of the company traded hands, compared to its average volume of 453,446. The stock’s fifty day moving average price is $3.57 and its 200-day moving average price is $4.02. The firm has a market cap of $331.81 million, a price-to-earnings ratio of 9.05 and a beta of 1.28. Rimini Street, Inc. has a one year low of $2.79 and a one year high of $5.38.

Analyst Upgrades and Downgrades

A number of research firms have commented 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 upgraded shares of Rimini Street to a “hold” rating in a research report on Monday, February 23rd. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Rimini Street in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $5.75.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Brooktree Capital Management grew its position in shares of Rimini Street by 0.4% during the second quarter. Brooktree Capital Management now owns 3,902,223 shares of the company’s stock valued at $14,711,000 after purchasing an additional 15,770 shares in the last quarter. Pacific Ridge Capital Partners LLC boosted its stake in Rimini Street by 9.4% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 1,857,512 shares of the company’s stock valued at $7,207,000 after buying an additional 159,673 shares during the last quarter. Mink Brook Asset Management LLC grew its holdings in Rimini Street by 73.4% during the 4th quarter. Mink Brook Asset Management LLC now owns 1,299,741 shares of the company’s stock valued at $5,043,000 after buying an additional 550,167 shares in the last quarter. Geode Capital Management LLC increased its stake in Rimini Street by 1.5% in the 2nd quarter. Geode Capital Management LLC now owns 1,234,075 shares of the company’s stock worth $4,653,000 after acquiring an additional 18,808 shares during the last quarter. Finally, Samjo Management LLC increased its stake in Rimini Street by 149.0% in the 4th quarter. Samjo Management LLC now owns 1,207,750 shares of the company’s stock worth $4,686,000 after acquiring an additional 722,750 shares during the last quarter. Institutional investors own 73.75% of the company’s stock.

Key Stories Impacting Rimini Street

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

• Positive Sentiment: Institutional investors have been adding to positions (Invesco, BNP Paribas, Barclays and others increased stakes), and institutions now own ~73.8% of the stock — a supportive sign of professional interest that can limit downside. MarketBeat Institutional & Insider Summary
• Neutral Sentiment: Analysts show a consensus “Hold” with a target around $5.75 (one Buy, two Holds). Valuation metrics (PE ~9, market cap ~ $330M) may attract value-oriented buyers, but the stock sits below its 200-day moving average, which mutes near-term bullish conviction. MarketBeat Analyst Coverage
• Negative Sentiment: Several senior insiders sold small blocks of shares on Mar 3 — CEO Seth Ravin (3,080 shares), CMO David Rowe (2,809), CFO Michael Perica (3,140) and other EVPs — each sale worth roughly $8–12k (at ~$3.72). Though the reductions are small percentage-wise (sub-4% for any single insider), clustered insider selling often pressures sentiment and can trigger short-term selling by other holders. InsiderTrades: Insider Selling Alert

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.