Zacks Investment Research upgraded shares of Rimini Street (NASDAQ:RMNI) from a hold rating to a buy rating in a research note released on Friday, Zacks.com reports. They currently have $5.25 price target on the stock.
According to Zacks, “Rimini Street, Inc. provides enterprise software support services. The Company’s support services program consists of support, risk avoidance, technology support, innovation and roadmap, account management and archiving services, as well as global tax, legal and regulatory update services. It serves the education and public sector. Rimini Street, Inc. is based in Las Vegas, United States. “
Shares of NASDAQ RMNI opened at $4.88 on Friday. The firm has a market cap of $316.70 million and a PE ratio of -15.25. The firm has a fifty day moving average of $5.02 and a 200 day moving average of $5.13. Rimini Street has a one year low of $4.00 and a one year high of $7.46.
In other Rimini Street news, President Sebastian Grady sold 8,807 shares of Rimini Street stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $5.18, for a total transaction of $45,620.26. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Nancy Lyskawa sold 45,000 shares of Rimini Street stock in a transaction on Tuesday, July 23rd. The stock was sold at an average price of $4.96, for a total transaction of $223,200.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 745,068 shares of company stock worth $3,809,889. 64.25% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. boosted its stake in Rimini Street by 114.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 5,418 shares of the company’s stock worth $28,000 after purchasing an additional 2,892 shares during the last quarter. Strs Ohio acquired a new stake in Rimini Street during the 2nd quarter worth $29,000. SG Americas Securities LLC acquired a new stake in Rimini Street during the 1st quarter worth $53,000. Marshall Wace LLP acquired a new stake in Rimini Street during the 2nd quarter worth $84,000. Finally, NJ State Employees Deferred Compensation Plan boosted its stake in Rimini Street by 9.5% during the 1st quarter. NJ State Employees Deferred Compensation Plan now owns 23,000 shares of the company’s stock worth $115,000 after purchasing an additional 2,000 shares during the last quarter. 41.11% of the stock is currently owned by institutional investors.
About Rimini Street
Rimini Street, Inc provides enterprise software products and services for various industries. The company offers third-party support for Oracle and SAP software products. It sells its solutions primarily through direct sales organizations in North America, Latin America, Europe, Africa, the Middle East, Asia, and the Asia-Pacific.
Read More: How Do You Calculate Return on Equity (ROE)?
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Rimini Street Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rimini Street and related companies with MarketBeat.com's FREE daily email newsletter.