Rimini Street (NASDAQ:RMNI) Price Target Cut to $4.50 by Analysts at Alliance Global Partners

Rimini Street (NASDAQ:RMNI) had its target price trimmed by Alliance Global Partners from $5.50 to $4.50 in a research note issued to investors on Friday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Rimini Street Trading Down 3.1 %

Shares of NASDAQ RMNI opened at $2.47 on Friday. The firm has a market cap of $223.31 million, a PE ratio of 10.29 and a beta of 1.27. Rimini Street has a 1-year low of $2.01 and a 1-year high of $5.32. The company has a fifty day moving average price of $3.00 and a 200 day moving average price of $3.04.

Rimini Street (NASDAQ:RMNI) last posted its quarterly earnings data on Wednesday, February 28th. The company reported $0.15 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06. Rimini Street had a net margin of 5.02% and a negative return on equity of 66.46%. The company had revenue of $112.11 million during the quarter, compared to the consensus estimate of $105.95 million. Equities research analysts forecast that Rimini Street will post 0.35 EPS for the current year.

Insider Transactions at Rimini Street

In other news, EVP David W. Rowe sold 10,888 shares of the stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $2.98, for a total transaction of $32,446.24. Following the completion of the transaction, the executive vice president now directly owns 385,941 shares in the company, valued at approximately $1,150,104.18. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, EVP David W. Rowe sold 10,888 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $2.98, for a total value of $32,446.24. Following the sale, the executive vice president now directly owns 385,941 shares of the company’s stock, valued at approximately $1,150,104.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Michael L. Perica sold 30,588 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $2.98, for a total transaction of $91,152.24. Following the completion of the sale, the chief financial officer now directly owns 141,517 shares in the company, valued at $421,720.66. The disclosure for this sale can be found here. Insiders sold a total of 138,901 shares of company stock worth $413,950 in the last three months. Insiders own 41.32% of the company’s stock.

Institutional Investors Weigh In On Rimini Street

A number of institutional investors and hedge funds have recently modified their holdings of the company. Brooktree Capital Management raised its holdings in shares of Rimini Street by 43.6% in the 3rd quarter. Brooktree Capital Management now owns 2,817,829 shares of the company’s stock valued at $6,199,000 after purchasing an additional 856,085 shares during the period. Pacific Ridge Capital Partners LLC raised its holdings in shares of Rimini Street by 14.6% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 1,383,969 shares of the company’s stock valued at $4,526,000 after purchasing an additional 176,414 shares during the period. Acadian Asset Management LLC raised its holdings in shares of Rimini Street by 30.6% in the 3rd quarter. Acadian Asset Management LLC now owns 1,358,364 shares of the company’s stock valued at $2,987,000 after purchasing an additional 318,029 shares during the period. GSA Capital Partners LLP raised its holdings in shares of Rimini Street by 193.0% in the 3rd quarter. GSA Capital Partners LLP now owns 576,428 shares of the company’s stock valued at $1,268,000 after purchasing an additional 379,709 shares during the period. Finally, LSV Asset Management raised its holdings in shares of Rimini Street by 799.6% in the 1st quarter. LSV Asset Management now owns 521,900 shares of the company’s stock valued at $1,701,000 after purchasing an additional 463,884 shares during the period. 73.75% of the stock is owned by institutional investors.

About Rimini Street

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.