Rimini Street (NASDAQ:RMNI) Stock Price Down 3.6% – Should You Sell?

Rimini Street, Inc. (NASDAQ:RMNI)’s share price traded down 3.6% during mid-day trading on Monday . The stock traded as low as $4.89 and last traded at $5.05. 598,150 shares traded hands during trading, an increase of 90% from the average session volume of 314,473 shares. The stock had previously closed at $5.24.

Wall Street Analyst Weigh In

Separately, Roth Capital set a $6.50 target price on Rimini Street and gave the stock a “buy” rating in a research report on Thursday.

Rimini Street Stock Performance

The stock’s fifty day moving average is $3.52 and its two-hundred day moving average is $3.33. The firm has a market cap of $463.54 million, a price-to-earnings ratio of -13.65 and a beta of 1.31.

Insider Buying and Selling at Rimini Street

In other news, EVP Steven Hershkowitz sold 24,974 shares of the firm’s stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $3.47, for a total transaction of $86,659.78. Following the transaction, the executive vice president owned 75,025 shares in the company, valued at approximately $260,336.75. This trade represents a 24.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Michael L. Perica sold 28,319 shares of the company’s stock in a transaction on Tuesday, May 6th. The stock was sold at an average price of $3.28, for a total transaction of $92,886.32. Following the sale, the chief financial officer directly owned 237,361 shares of the company’s stock, valued at approximately $778,544.08. This represents a 10.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 128,325 shares of company stock valued at $425,651. Company insiders own 41.20% of the company’s stock.

Institutional Trading of Rimini Street

Hedge funds have recently bought and sold shares of the stock. ProShare Advisors LLC boosted its holdings in shares of Rimini Street by 49.1% in the 4th quarter. ProShare Advisors LLC now owns 14,942 shares of the company’s stock worth $40,000 after acquiring an additional 4,918 shares in the last quarter. Squarepoint Ops LLC acquired a new stake in shares of Rimini Street in the 4th quarter valued at approximately $40,000. Financial Management Professionals Inc. bought a new position in Rimini Street during the first quarter worth about $44,000. Prudential Financial Inc. lifted its position in Rimini Street by 67.0% in the 4th quarter. Prudential Financial Inc. now owns 19,935 shares of the company’s stock valued at $53,000 after acquiring an additional 8,000 shares in the last quarter. Finally, Walleye Capital LLC bought a new position in shares of Rimini Street during the 4th quarter worth approximately $63,000. 73.75% of the stock is owned by institutional investors.

About Rimini Street

Rimini Street, Inc provides enterprise software products, services, and support. The company engages in the provision of support services for Oracle and SAP enterprise software products. It also provides Rimini ONE, an outsourcing option that offers a set of unified and integrated services to run, manage, support, customize, configure, connect, protect, monitor, and optimize its clients’ application, database, and technology enterprise software; Rimini Support, a mission-critical support for Oracle, SAP, proprietary and open-source database, and technology software; Rimini Manage, a suite of managed services for application and database software; Rimini Protect, a suite of personalized software security services and solutions; and Rimini Connect, a suite of managed interoperability solutions for browsers, operating systems, and email systems.