Rimini Street Inc (NASDAQ:RMNI) major shareholder Brigade Leveraged Capital Stru sold 75,000 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $12.39, for a total transaction of $929,250.00. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.
Shares of RMNI traded up $0.06 during mid-day trading on Wednesday, hitting $3.95. 22,200 shares of the company’s stock were exchanged, compared to its average volume of 59,912. The firm has a fifty day moving average of $3.98 and a two-hundred day moving average of $4.63. Rimini Street Inc has a twelve month low of $3.63 and a twelve month high of $6.00. The stock has a market cap of $267.07 million, a price-to-earnings ratio of -12.34, a P/E/G ratio of 0.55 and a beta of -0.13.
Rimini Street (NASDAQ:RMNI) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.04 by $0.06. The business had revenue of $68.95 million during the quarter, compared to the consensus estimate of $69.21 million. Rimini Street had a net margin of 2.78% and a negative return on equity of 8.25%. As a group, equities research analysts forecast that Rimini Street Inc will post 0.29 EPS for the current year.
Several hedge funds and other institutional investors have recently bought and sold shares of RMNI. BlackRock Inc. boosted its holdings in Rimini Street by 122.7% in the 2nd quarter. BlackRock Inc. now owns 966,161 shares of the company’s stock valued at $5,120,000 after purchasing an additional 532,357 shares during the period. Vanguard Group Inc. boosted its holdings in Rimini Street by 53.3% in the 2nd quarter. Vanguard Group Inc. now owns 903,772 shares of the company’s stock valued at $4,790,000 after purchasing an additional 314,226 shares during the period. Mackay Shields LLC bought a new stake in Rimini Street in the 3rd quarter valued at $119,000. Renaissance Technologies LLC boosted its holdings in Rimini Street by 104.9% in the 2nd quarter. Renaissance Technologies LLC now owns 158,049 shares of the company’s stock valued at $838,000 after purchasing an additional 80,900 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Rimini Street by 103.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 39,130 shares of the company’s stock valued at $207,000 after purchasing an additional 19,909 shares during the period. 46.93% of the stock is owned by institutional investors and hedge funds.
Separately, Zacks Investment Research upgraded shares of Rimini Street from a “hold” rating to a “buy” rating and set a $4.50 price target on the stock in a research note on Saturday, November 9th.
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.
Recommended Story: Basic Economics creates winners and losers
Receive News & Ratings for Rimini Street Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Rimini Street and related companies with MarketBeat.com's FREE daily email newsletter.