Insider Selling: Rimini Street (NASDAQ:RMNI) CFO Sells 27,737 Shares of Stock

Rimini Street, Inc. (NASDAQ:RMNI - Get Free Report) CFO Michael Perica sold 27,737 shares of the stock in a transaction that occurred on Wednesday, May 6th. The stock was sold at an average price of $3.94, for a total value of $109,283.78. Following the transaction, the chief financial officer directly owned 157,863 shares in the company, valued at approximately $621,980.22. This represents a 14.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.Get Rimini Street alerts:Rimini Street Price PerformanceShares of RMNI stock traded up $0.08 during trading hours on Friday, reaching $4.02. The stock had a trading volume of 594,815 shares, compared to its average volume of 367,889. Rimini Street, Inc. has a twelve month low of $2.87 and a twelve month high of $5.38. The firm has a 50-day simple moving average of $3.46 and a 200-day simple moving average of $3.70. The firm has a market capitalization of $372.09 million, a PE ratio of 10.86 and a beta of 1.27. Institutional Inflows and OutflowsSeveral large investors have recently bought and sold shares of RMNI. Quarry LP acquired a new position in Rimini Street in the 3rd quarter valued at approximately $31,000. BNP Paribas Financial Markets grew its stake in Rimini Street by 96.8% in the 3rd quarter. BNP Paribas Financial Markets now owns 9,944 shares of the company's stock valued at $47,000 after buying an additional 4,891 shares during the last quarter. SG Americas Securities LLC acquired a new stake in Rimini Street in the 4th quarter worth $43,000. nVerses Capital LLC acquired a new stake in shares of Rimini Street during the 4th quarter valued at about $57,000. Finally, Russell Investments Group Ltd. boosted its position in Rimini Street by 3,393.5% in the second quarter. Russell Investments Group Ltd. now owns 18,201 shares of the company's stock valued at $69,000 after buying an additional 17,680 shares in the last quarter. 73.75% of the stock is owned by institutional investors and hedge funds. Wall Street Analyst Weigh InSeveral research firms have recently weighed in on RMNI. Weiss Ratings reissued a "hold (c)" rating on shares of Rimini Street in a research report on Friday, March 27th. Alliance Global Partners reiterated a "buy" rating on shares of Rimini Street in a research report on Friday, May 1st. Zacks Research cut shares of Rimini Street from a "hold" rating to a "strong sell" rating in a research report on Tuesday. Finally, TD Cowen lifted their price objective on shares of Rimini Street from $4.00 to $4.50 and gave the stock a "hold" rating in a research report on Monday. Two equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $5.50.Get Our Latest Analysis on Rimini StreetAbout Rimini Street (Get Free Report)Rimini Street, Inc NASDAQ: RMNI is a provider of enterprise software support services, specializing in third-party maintenance for mission-critical applications from leading technology vendors. The company offers comprehensive support for ERP, CRM and database environments, with coverage for systems from providers such as Oracle and SAP. Through its proactive system monitoring, performance tuning, regulatory and tax update services, Rimini Street aims to extend the lifecycle of enterprise applications while delivering service levels comparable to or exceeding those of original software vendors. Founded in 2005 by technology entrepreneur Seth Ravin, Rimini Street has grown from a startup into a publicly traded company following its initial public offering in March 2018.Featured StoriesFive stocks we like better than Rimini StreetThis instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Rimini Street Right Now?Before you consider Rimini Street, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Rimini Street wasn't on the list.While Rimini Street currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here