Rimini Street (NASDAQ:RMNI) PT Lowered to $4.50

Rimini Street (NASDAQ:RMNI) had its target price decreased by investment analysts at Alliance Global Partners from $5.50 to $4.50 in a research note issued to investors on Friday, Benzinga reports. The firm presently has a “buy” rating on the stock. Alliance Global Partners’ target price suggests a potential upside of 76.47% from the company’s current price.

Rimini Street Trading Down 2.3 %

NASDAQ RMNI traded down $0.06 on Friday, hitting $2.55. 521,404 shares of the company’s stock traded hands, compared to its average volume of 257,385. The firm’s 50-day moving average price is $3.01 and its two-hundred day moving average price is $3.03. The firm has a market capitalization of $230.49 million, a PE ratio of 10.63 and a beta of 1.27. Rimini Street has a 1-year low of $2.01 and a 1-year high of $5.32.

Rimini Street (NASDAQ:RMNI) last released its quarterly earnings data on Wednesday, February 28th. The company reported $0.15 earnings per share 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 61.55% and a net margin of 5.02%. On average, research analysts anticipate that Rimini Street will post 0.35 earnings per share for the current fiscal year.

Insider Transactions at Rimini Street

In related news, EVP David W. Rowe sold 10,888 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $2.98, for a total value of $32,446.24. Following the completion of the transaction, the executive vice president now directly owns 385,941 shares in the company, valued at approximately $1,150,104.18. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Rimini Street news, CFO Michael L. Perica sold 30,588 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $2.98, for a total value of $91,152.24. Following the sale, the chief financial officer now directly owns 141,517 shares of the company’s stock, valued at $421,720.66. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP David W. Rowe sold 10,888 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $2.98, for a total value of $32,446.24. Following the transaction, the executive vice president now directly owns 385,941 shares of the company’s stock, valued at $1,150,104.18. The disclosure for this sale can be found here. Insiders have sold 150,202 shares of company stock valued at $450,113 in the last 90 days. 41.32% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rimini Street

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Brooktree Capital Management raised its stake in Rimini Street by 43.6% in the 3rd quarter. Brooktree Capital Management now owns 2,817,829 shares of the company’s stock valued at $6,199,000 after purchasing an additional 856,085 shares during the last quarter. Pacific Ridge Capital Partners LLC boosted its stake in Rimini Street by 14.6% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 1,383,969 shares of the company’s stock worth $4,526,000 after buying an additional 176,414 shares during the last quarter. Acadian Asset Management LLC increased its stake in shares of 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 acquiring an additional 318,029 shares during the last quarter. GSA Capital Partners LLP increased its stake in shares of Rimini Street by 193.0% in the 3rd quarter. GSA Capital Partners LLP now owns 576,428 shares of the company’s stock worth $1,268,000 after acquiring an additional 379,709 shares during the last quarter. Finally, Ballast Asset Management LP acquired a new position in shares of Rimini Street during the 3rd quarter valued at about $1,104,000. Hedge funds and other 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.