Financial Management Professionals Inc. Sells 5,145 Shares of Rimini Street, Inc. $RMNI

Financial Management Professionals Inc. decreased its holdings in shares of Rimini Street, Inc. (NASDAQ:RMNI) by 40.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,450 shares of the company’s stock after selling 5,145 shares during the quarter. Financial Management Professionals Inc.’s holdings in Rimini Street were worth $28,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Millennium Management LLC bought a new position in shares of Rimini Street during the 4th quarter worth approximately $799,000. Boston Partners acquired a new stake in shares of Rimini Street during the first quarter worth $883,000. Informed Momentum Co LLC acquired a new stake in shares of Rimini Street during the first quarter worth $718,000. Samjo Management LLC bought a new position in Rimini Street during the first quarter worth about $696,000. Finally, Nuveen LLC bought a new position in Rimini Street during the first quarter worth about $473,000. Institutional investors own 73.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RMNI. Wall Street Zen downgraded Rimini Street from a “strong-buy” rating to a “buy” rating in a research report on Saturday, August 2nd. Roth Capital set a $6.50 price objective on Rimini Street and gave the company a “buy” rating in a report on Thursday, July 10th. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $6.25.

Rimini Street Stock Performance

NASDAQ RMNI opened at $4.78 on Friday. Rimini Street, Inc. has a 52-week low of $1.53 and a 52-week high of $5.38. The company has a market capitalization of $442.25 million, a P/E ratio of -119.47 and a beta of 1.46. The company has a fifty day moving average of $4.39 and a 200-day moving average of $3.86.

Insider Activity

In related news, CFO Michael L. Perica sold 100,249 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $4.20, for a total transaction of $421,045.80. Following the transaction, the chief financial officer owned 146,032 shares in the company, valued at $613,334.40. The trade was a 40.71% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nancy Lyskawa sold 24,344 shares of the business’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $4.00, for a total transaction of $97,376.00. Following the transaction, the executive vice president owned 160,609 shares in the company, valued at $642,436. This represents a 13.16% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 231,422 shares of company stock valued at $969,055. Insiders own 41.20% of the company’s stock.

Rimini Street 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.