Rimini Street (NASDAQ:RMNI) Trading Down 14%

Rimini Street, Inc. (NASDAQ:RMNI – Get Rating)’s stock price fell 14% during mid-day trading on Thursday . The stock traded as low as $5.91 and last traded at $6.21. 4,867 shares changed hands during mid-day trading, a decline of 98% from the average session volume of 261,639 shares. The stock had previously closed at $7.22.

Rimini Street Stock Performance

The firm has a market capitalization of $493.52 million, a P/E ratio of 7.88, a price-to-earnings-growth ratio of 1.57 and a beta of 0.81. The company has a 50-day moving average price of $6.26 and a 200-day moving average price of $5.77.

Rimini Street (NASDAQ:RMNI – Get Rating) last posted its quarterly earnings results on Wednesday, May 4th. The company reported $0.07 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by ($0.03). Rimini Street had a negative return on equity of 89.85% and a net margin of 19.08%. The company had revenue of $97.91 million during the quarter, compared to the consensus estimate of $95.81 million. During the same quarter in the prior year, the business earned ($0.01) earnings per share. Equities analysts predict that Rimini Street, Inc. will post 0.46 EPS for the current year.

Insider Transactions at Rimini Street

In other Rimini Street news, COO Gerard Brossard sold 23,696 shares of Rimini Street stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $6.62, for a total transaction of $156,867.52. Following the transaction, the chief operating officer now directly owns 125,048 shares in the company, valued at $827,817.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Rimini Street news, CEO Seth A. Ravin sold 22,072 shares of Rimini Street stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $6.62, for a total transaction of $146,116.64. Following the transaction, the chief executive officer now directly owns 130,971 shares in the company, valued at $867,028.02. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, COO Gerard Brossard sold 23,696 shares of the business’s stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $6.62, for a total value of $156,867.52. Following the completion of the sale, the chief operating officer now owns 125,048 shares in the company, valued at $827,817.76. The disclosure for this sale can be found here. Insiders have sold 56,230 shares of company stock worth $364,182 in the last three months. Insiders own 48.40% of the company’s stock.

Institutional Trading of Rimini Street

Institutional investors have recently modified their holdings of the company. B. Riley Wealth Management Inc. bought a new stake in shares of Rimini Street in the fourth quarter valued at about $314,000. Union Square Park Capital Management LLC lifted its holdings in shares of Rimini Street by 18.6% in the fourth quarter. Union Square Park Capital Management LLC now owns 1,185,748 shares of the company’s stock valued at $7,079,000 after purchasing an additional 185,748 shares in the last quarter. Dupont Capital Management Corp bought a new stake in shares of Rimini Street in the fourth quarter valued at about $158,000. Ruane Cunniff & Goldfarb L.P. increased its position in shares of Rimini Street by 24.0% in the fourth quarter. Ruane Cunniff & Goldfarb L.P. now owns 27,769 shares of the company’s stock valued at $166,000 after acquiring an additional 5,381 shares during the last quarter. Finally, Sandy Cove Advisors LLC acquired a new stake in shares of Rimini Street in the fourth quarter valued at about $34,000. 79.45% of the stock is currently owned by institutional investors.

About Rimini Street

(Get Rating)

Rimini Street, Inc provides enterprise software products, services, and support for various industries. The company offers software support services for Oracle and SAP enterprise 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.