Shares of Rimini Street Inc (NASDAQ:RMNI) have received an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the stock, Zacks Investment Research reports. Two investment analysts have rated the stock with a strong buy recommendation.
Analysts have set a one year consensus price target of $10.00 for the company and are predicting that the company will post $0.06 EPS for the current quarter, according to Zacks. Zacks has also given Rimini Street an industry rank of 70 out of 256 based on the ratings given to related companies.
Separately, Zacks Investment Research raised shares of Rimini Street from a “sell” rating to a “hold” rating in a research report on Thursday, July 11th.
NASDAQ:RMNI traded down $0.01 on Wednesday, hitting $4.96. 220 shares of the company’s stock were exchanged, compared to its average volume of 47,457. The business has a 50-day simple moving average of $5.15. Rimini Street has a 52 week low of $4.00 and a 52 week high of $8.55. The stock has a market capitalization of $333.41 million and a P/E ratio of -15.50.
In other news, SVP Nancy Lyskawa sold 45,000 shares of the business’s stock in a transaction dated Tuesday, July 23rd. The shares were sold at an average price of $4.96, for a total transaction of $223,200.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, President Sebastian Grady sold 13,863 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $5.18, for a total transaction of $71,810.34. The disclosure for this sale can be found here. Insiders have sold a total of 690,075 shares of company stock worth $3,559,675 over the last three months. Insiders own 64.25% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Strs Ohio acquired a new position in shares of Rimini Street during the 2nd quarter worth about $29,000. SG Americas Securities LLC acquired a new position in shares of Rimini Street during the 1st quarter worth about $53,000. Rhumbline Advisers acquired a new position in shares of Rimini Street during the 4th quarter worth about $57,000. NJ State Employees Deferred Compensation Plan increased its stake in shares of 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. Finally, Northern Trust Corp increased its stake in shares of Rimini Street by 2.1% during the 4th quarter. Northern Trust Corp now owns 100,710 shares of the company’s stock worth $519,000 after purchasing an additional 2,054 shares during the last quarter. Institutional investors own 41.12% of the company’s stock.
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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