Rimini Street (NASDAQ:RMNI) Stock Rating Lowered by Wall Street Zen

Rimini Street (NASDAQ:RMNI) was downgraded by research analysts at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Saturday.

Separately, Roth Capital set a $6.50 price target on Rimini Street and gave the stock a “buy” rating in a research report on Thursday, July 10th.

Rimini Street Stock Down 13.3%

NASDAQ:RMNI opened at $4.16 on Friday. Rimini Street has a twelve month low of $1.53 and a twelve month high of $5.38. The business has a 50 day moving average price of $3.93 and a two-hundred day moving average price of $3.55. The company has a market cap of $381.85 million, a P/E ratio of -103.97 and a beta of 1.34.

Insider Activity at Rimini Street

In other news, CEO Seth A. Ravin sold 61,292 shares of the stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $3.28, for a total value of $201,037.76. Following the completion of the sale, the chief executive officer owned 652,696 shares of the company’s stock, valued at approximately $2,140,842.88. This represents a 8.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael L. Perica sold 28,319 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $3.28, for a total value of $92,886.32. Following the completion of the sale, the chief financial officer directly owned 237,361 shares of the company’s stock, valued at approximately $778,544.08. The trade was a 10.66% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 103,351 shares of company stock valued at $338,991. 41.20% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Rimini Street

Large investors have recently made changes to their positions in the stock. Cerity Partners LLC raised its stake in Rimini Street by 13.8% in the 1st quarter. Cerity Partners LLC now owns 349,713 shares of the company’s stock valued at $1,217,000 after acquiring an additional 42,542 shares during the period. Mackenzie Financial Corp raised its stake in Rimini Street by 432.4% in the 4th quarter. Mackenzie Financial Corp now owns 152,660 shares of the company’s stock valued at $408,000 after acquiring an additional 123,984 shares during the period. Millennium Management LLC bought a new stake in Rimini Street in the 4th quarter valued at $799,000. Price T Rowe Associates Inc. MD raised its stake in Rimini Street by 6.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 73,906 shares of the company’s stock valued at $198,000 after acquiring an additional 4,477 shares during the period. Finally, Renaissance Technologies LLC raised its stake in Rimini Street by 24.5% in the 4th quarter. Renaissance Technologies LLC now owns 198,326 shares of the company’s stock valued at $530,000 after acquiring an additional 39,000 shares during the period. Institutional investors and hedge funds own 73.75% of the company’s stock.

Rimini Street Company Profile

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.