Sebastian Grady Sells 8,807 Shares of Rimini Street Inc (NASDAQ:RMNI) Stock

Rimini Street Inc (NASDAQ:RMNI) President Sebastian Grady sold 8,807 shares of the company’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $5.18, for a total transaction of $45,620.26. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

  • On Friday, May 10th, Sebastian Grady sold 13,863 shares of Rimini Street stock. The stock was sold at an average price of $5.18, for a total transaction of $71,810.34.
  • 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 transaction 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 transaction of $3,376.35.

Shares of RMNI traded down $0.07 during trading hours on Friday, reaching $5.09. The company had a trading volume of 49,589 shares, compared to its average volume of 36,472. The company has a market capitalization of $336.79 million and a PE ratio of -15.91. Rimini Street Inc has a 12-month low of $4.00 and a 12-month high of $8.55.

Rimini Street (NASDAQ:RMNI) last announced its quarterly earnings results on Thursday, March 14th. The company reported $0.04 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.04. The company had revenue of $67.71 million during the quarter, compared to analysts’ expectations of $63.69 million. As a group, equities analysts forecast that Rimini Street Inc will post 0.19 EPS for the current fiscal year.

Separately, Zacks Investment Research upgraded shares of Rimini Street from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a research note on Wednesday, March 20th.

Institutional investors and hedge funds have recently made changes to their positions in the company. ExodusPoint Capital Management LP purchased a new position in shares of Rimini Street in the 1st quarter valued at about $50,000. SG Americas Securities LLC purchased a new position in shares of Rimini Street in the 1st quarter valued at about $53,000. Rhumbline Advisers purchased a new position in shares of Rimini Street in the 4th quarter valued at about $57,000. NJ State Employees Deferred Compensation Plan increased its holdings in shares of Rimini Street by 9.5% in the 1st quarter. NJ State Employees Deferred Compensation Plan now owns 23,000 shares of the company’s stock valued at $115,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Rimini Street by 8.1% in the 1st quarter. Renaissance Technologies LLC now owns 77,149 shares of the company’s stock valued at $386,000 after purchasing an additional 5,800 shares in the last quarter. Institutional investors and hedge funds own 41.68% of the company’s stock.

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About Rimini Street

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.

Further Reading: The limitations of an equal weight rating

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