Rimini Street’s (RMNI) “Sell (D+)” Rating Reiterated at Weiss Ratings

Weiss Ratings reiterated their sell (d+) rating on shares of Rimini Street (NASDAQ:RMNI) in a research report released on Wednesday,Weiss Ratings reports.

Several other analysts have also recently issued reports on RMNI. Wall Street Zen cut Rimini Street from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 2nd. Roth Capital set a $6.50 price objective on Rimini Street and gave the stock a “buy” rating in a report on Thursday, July 10th. Three research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $6.25.

Rimini Street Trading Down 5.9%

Shares of NASDAQ:RMNI opened at $4.28 on Wednesday. The stock has a 50 day moving average of $4.39 and a 200 day moving average of $3.91. The company has a market cap of $395.99 million, a PE ratio of -106.97 and a beta of 1.38. Rimini Street has a 12-month low of $1.53 and a 12-month high of $5.38.

Insider Buying and Selling at Rimini Street

In related news, EVP Nancy Lyskawa sold 24,344 shares of the stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $4.00, for a total transaction of $97,376.00. Following the sale, the executive vice president owned 160,609 shares in the company, valued at approximately $642,436. This represents a 13.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Michael L. Perica sold 100,249 shares of the stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $4.20, for a total value of $421,045.80. Following the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 231,422 shares of company stock worth $969,055 in the last 90 days. 41.20% of the stock is currently owned by insiders.

Institutional Trading of Rimini Street

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio grew its position in Rimini Street by 899.4% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 23,446 shares of the company’s stock valued at $88,000 after acquiring an additional 21,100 shares during the last quarter. Cerity Partners LLC grew its position 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 last quarter. Nuveen LLC bought a new position in Rimini Street in the 1st quarter valued at $473,000. Informed Momentum Co LLC bought a new position in Rimini Street in the 1st quarter valued at $718,000. Finally, Samjo Management LLC bought a new position in Rimini Street in the 1st quarter valued at $696,000. Hedge funds and other institutional investors 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.