Analysts Anticipate Rimini Street Inc (RMNI) to Post $0.02 Earnings Per Share

Analysts expect Rimini Street Inc (NASDAQ:RMNI) to post earnings of $0.02 per share for the current fiscal quarter, Zacks Investment Research reports. Zero analysts have issued estimates for Rimini Street’s earnings. The firm is scheduled to issue its next quarterly earnings results after the market closes on Thursday, November 8th.

According to Zacks, analysts expect that Rimini Street will report full year earnings of ($0.52) per share for the current financial year. For the next financial year, analysts anticipate that the company will post earnings of $0.12 per share. Zacks’ EPS calculations are a mean average based on a survey of analysts that that provide coverage for Rimini Street.

In other news, SVP Kevin Maddock sold 160,325 shares of the company’s stock in a transaction dated Thursday, September 6th. The stock was sold at an average price of $4.80, for a total value of $769,560.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Thomas B. Sabol bought 5,000 shares of the stock in a transaction dated Friday, August 17th. The stock was bought at an average price of $5.31 per share, for a total transaction of $26,550.00. The disclosure for this purchase can be found here. Over the last three months, insiders bought 12,000 shares of company stock worth $61,300 and sold 414,525 shares worth $2,231,987.

Institutional investors and hedge funds have recently modified their holdings of the company. Cowen Inc. boosted its stake in shares of Rimini Street by 48.6% in the second quarter. Cowen Inc. now owns 766,778 shares of the company’s stock worth $5,023,000 after buying an additional 250,763 shares during the last quarter. Millennium Management LLC boosted its stake in shares of Rimini Street by 147.1% in the first quarter. Millennium Management LLC now owns 151,748 shares of the company’s stock worth $1,299,000 after buying an additional 90,331 shares during the last quarter. Ramsey Quantitative Systems boosted its stake in shares of Rimini Street by 102.8% in the third quarter. Ramsey Quantitative Systems now owns 24,487 shares of the company’s stock worth $155,000 after buying an additional 12,414 shares during the last quarter. Schwab Charles Investment Management Inc. purchased a new stake in shares of Rimini Street in the second quarter worth about $124,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Rimini Street in the second quarter worth about $116,000. Hedge funds and other institutional investors own 41.39% of the company’s stock.

Shares of RMNI stock opened at $7.25 on Friday. Rimini Street has a fifty-two week low of $4.00 and a fifty-two week high of $10.00.

Rimini Street Company Profile

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.

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