Insider Selling: Rimini Street Inc (RMNI) President Sells 13,863 Shares of Stock

Rimini Street Inc (NASDAQ:RMNI) President Sebastian Grady sold 13,863 shares of Rimini Street stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $5.18, for a total value of $71,810.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

Sebastian Grady also recently made the following trade(s):

  • On Monday, May 6th, Sebastian Grady sold 21,144 shares of Rimini Street stock. The stock was sold at an average price of $5.18, for a total value of $109,525.92.
  • On Monday, March 18th, Sebastian Grady sold 615 shares of Rimini Street stock. The stock was sold at an average price of $5.49, for a total value of $3,376.35.
  • On Thursday, March 7th, Sebastian Grady sold 1,000 shares of Rimini Street stock. The stock was sold at an average price of $5.54, for a total value of $5,540.00.

NASDAQ:RMNI traded up $0.01 during mid-day trading on Friday, reaching $4.91. 10,376 shares of the stock were exchanged, compared to its average volume of 52,752. The firm has a market cap of $315.90 million and a P/E ratio of -15.34. Rimini Street Inc has a 1-year low of $4.00 and a 1-year high of $8.55.

Rimini Street (NASDAQ:RMNI) last released its earnings results on Thursday, March 14th. The company reported $0.04 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.04. The firm had revenue of $67.71 million for the quarter, compared to analyst estimates of $63.69 million. On average, equities analysts anticipate that Rimini Street Inc will post 0.19 earnings per share for the current fiscal year.

Separately, Zacks Investment Research lowered Rimini Street from a “buy” rating to a “hold” rating in a report on Thursday, March 21st.

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Rimini Street by 8.1% in the 3rd quarter. BlackRock Inc. now owns 451,088 shares of the company’s stock worth $2,846,000 after purchasing an additional 33,737 shares in the last quarter. Vanguard Group Inc. increased its stake in Rimini Street by 192.0% in the 3rd quarter. Vanguard Group Inc. now owns 603,813 shares of the company’s stock worth $3,810,000 after purchasing an additional 397,057 shares in the last quarter. Marshall Wace LLP purchased a new position in Rimini Street in the 3rd quarter worth about $219,000. Rhumbline Advisers purchased a new position in Rimini Street in the 4th quarter worth about $57,000. Finally, NJ State Employees Deferred Compensation Plan increased its stake in Rimini Street by 50.0% in the 4th quarter. NJ State Employees Deferred Compensation Plan now owns 21,000 shares of the company’s stock worth $108,000 after purchasing an additional 7,000 shares in the last quarter. 42.21% of the stock is currently owned by hedge funds and other institutional investors.

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Rimini Street Company Profile

Rimini Street, Inc provides enterprise software products and services for various industries. The company offers third-party support for Oracle and SAP software products. It sells its solutions primarily through direct sales organizations in North America, Latin America, Europe, Africa, the Middle East, Asia, and the Asia-Pacific.

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