Seth A. Ravin Sells 800,000 Shares of Rimini Street, Inc. (NASDAQ:RMNI) Stock

Rimini Street, Inc. (NASDAQ:RMNI – Get Rating) CEO Seth A. Ravin sold 800,000 shares of the company’s stock in a transaction dated Wednesday, March 8th. The stock was sold at an average price of $4.10, for a total value of $3,280,000.00. Following the transaction, the chief executive officer now directly owns 10,496,509 shares of the company’s stock, valued at $43,035,686.90. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

Rimini Street Stock Performance

NASDAQ:RMNI opened at $4.19 on Friday. The stock has a 50-day simple moving average of $4.62 and a 200-day simple moving average of $4.59. The stock has a market cap of $372.11 million, a P/E ratio of -139.67 and a beta of 0.94. Rimini Street, Inc. has a 1 year low of $3.50 and a 1 year high of $7.25.

Rimini Street (NASDAQ:RMNI – Get Rating) last released its quarterly earnings data on Wednesday, March 1st. The company reported $0.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.09. The business had revenue of $108.62 million during the quarter, compared to analysts’ expectations of $104.24 million. Rimini Street had a negative return on equity of 36.98% and a negative net margin of 0.61%. On average, equities research analysts predict that Rimini Street, Inc. will post 0.33 EPS for the current year.

Institutional Trading of Rimini Street

Several institutional investors and hedge funds have recently made changes to their positions in RMNI. Swiss National Bank lifted its holdings in shares of Rimini Street by 9.6% in the 1st quarter. Swiss National Bank now owns 82,100 shares of the company’s stock valued at $476,000 after purchasing an additional 7,200 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Rimini Street by 4.5% in the 1st quarter. Bank of New York Mellon Corp now owns 195,105 shares of the company’s stock valued at $1,132,000 after purchasing an additional 8,376 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Rimini Street in the 1st quarter valued at about $409,000. MetLife Investment Management LLC lifted its holdings in shares of Rimini Street by 978.4% in the 1st quarter. MetLife Investment Management LLC now owns 17,286 shares of the company’s stock valued at $100,000 after purchasing an additional 15,683 shares during the last quarter. Finally, Panagora Asset Management Inc. lifted its holdings in shares of Rimini Street by 3.8% in the 1st quarter. Panagora Asset Management Inc. now owns 65,976 shares of the company’s stock valued at $383,000 after purchasing an additional 2,422 shares during the last quarter. 71.51% of the stock is owned by hedge funds and other institutional investors.

About Rimini Street

(Get Rating)

Rimini Street, Inc engages in the provision of enterprise software support products and services. It offers global tax, legal, and regulatory update, security support, proactive support, advanced technology, license advisory and onboarding and archiving services. The company was founded by Seth A. Ravin and Thomas C.