David Rowe Sells 7,209 Shares of Rimini Street (NASDAQ:RMNI) Stock

Rimini Street, Inc. (NASDAQ:RMNI) CMO David Rowe sold 7,209 shares of the business’s stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $3.64, for a total value of $26,240.76. Following the sale, the chief marketing officer owned 464,444 shares of the company’s stock, valued at $1,690,576.16. The trade was a 1.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Rimini Street Stock Performance

NASDAQ RMNI opened at $3.62 on Friday. The firm has a market capitalization 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. The company’s 50 day moving average price is $3.57 and its 200 day moving average price is $4.02.

Institutional Trading of Rimini Street

A number of hedge funds have recently made changes to their positions in the company. Boston Partners lifted its position in shares of Rimini Street by 37.1% during the second quarter. Boston Partners now owns 347,915 shares of the company’s stock worth $1,312,000 after purchasing an additional 94,160 shares in the last quarter. Voss Capital LP acquired a new stake in Rimini Street during the 2nd quarter valued at $942,000. Brooktree Capital Management grew its holdings in Rimini Street by 0.4% during the 2nd 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. Samjo Management LLC increased its stake in Rimini Street by 142.5% during the 2nd quarter. Samjo Management LLC now owns 485,000 shares of the company’s stock worth $1,828,000 after buying an additional 285,000 shares during the period. Finally, Formula Growth Ltd. purchased a new stake in Rimini Street during the 2nd quarter worth $754,000. Hedge funds and other institutional investors own 73.75% of the company’s stock.

Rimini Street News Roundup

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

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Weiss Ratings restated a “hold (c)” rating on shares of Rimini Street in a report on Monday, December 29th. Wall Street Zen downgraded Rimini Street from a “buy” rating to a “hold” rating in a report on Saturday, November 8th. Finally, TD Cowen raised Rimini Street to a “hold” rating in a research report on Monday, February 23rd. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Rimini Street currently has a consensus rating of “Hold” and an average price target of $5.75.

Rimini Street Company Profile

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.