Thomas C. Shay Sells 11,700 Shares of Rimini Street Inc (RMNI) Stock

Rimini Street Inc (NASDAQ:RMNI) SVP Thomas C. Shay sold 11,700 shares of the firm’s stock in a transaction that occurred on Friday, December 28th. The stock was sold at an average price of $5.01, for a total transaction of $58,617.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Shares of RMNI traded down $0.02 during mid-day trading on Monday, reaching $4.90. 1,235 shares of the company’s stock were exchanged, compared to its average volume of 31,566. Rimini Street Inc has a 52-week low of $4.00 and a 52-week high of $8.94.

Rimini Street (NASDAQ:RMNI) last issued its quarterly earnings data on Thursday, November 8th. The company reported $0.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.08. The business had revenue of $62.63 million for the quarter. As a group, sell-side analysts expect that Rimini Street Inc will post -0.27 earnings per share for the current fiscal year.

A number of research analysts have recently weighed in on RMNI shares. Roth Capital started coverage on shares of Rimini Street in a research note on Wednesday, December 19th. They set a “buy” rating and a $10.00 price objective for the company. Zacks Investment Research raised shares of Rimini Street from a “hold” rating to a “buy” rating and set a $5.75 price objective for the company in a research note on Thursday, November 29th.

A number of hedge funds have recently added to or reduced their stakes in the business. Ramsey Quantitative Systems grew its stake in Rimini Street by 102.8% in the 3rd quarter. Ramsey Quantitative Systems now owns 24,487 shares of the company’s stock worth $155,000 after acquiring an additional 12,414 shares during the period. Bank of New York Mellon Corp purchased a new stake in Rimini Street in the 2nd quarter worth approximately $116,000. Schwab Charles Investment Management Inc. purchased a new stake in Rimini Street in the 2nd quarter worth approximately $124,000. BlackRock Inc. grew its stake in Rimini Street by 8.1% in the 3rd quarter. BlackRock Inc. now owns 451,088 shares of the company’s stock worth $2,846,000 after acquiring an additional 33,737 shares during the period. Finally, Marshall Wace LLP purchased a new stake in Rimini Street in the 3rd quarter worth approximately $219,000. 43.40% of the stock is owned by hedge funds and other institutional investors.

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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.

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