Insider Selling: Rimini Street, Inc. (NASDAQ:RMNI) CFO Sells 7,837 Shares of Stock

Rimini Street, Inc. (NASDAQ:RMNI) CFO Michael L. Perica sold 7,837 shares of Rimini Street stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $2.79, for a total value of $21,865.23. Following the transaction, the chief financial officer now owns 163,090 shares in the company, valued at $455,021.10. This trade represents a 4.58 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Rimini Street Trading Down 3.7 %

RMNI stock opened at $2.85 on Friday. The stock has a 50-day moving average price of $2.60 and a two-hundred day moving average price of $2.17. Rimini Street, Inc. has a 1 year low of $1.53 and a 1 year high of $3.36.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Charles Schwab Investment Management Inc. boosted its position in Rimini Street by 2.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 457,181 shares of the company’s stock worth $1,221,000 after acquiring an additional 12,300 shares during the last quarter. Los Angeles Capital Management LLC lifted its position in shares of Rimini Street by 7.4% in the fourth quarter. Los Angeles Capital Management LLC now owns 276,025 shares of the company’s stock worth $737,000 after purchasing an additional 18,906 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in Rimini Street by 20.0% during the fourth quarter. Bank of New York Mellon Corp now owns 278,619 shares of the company’s stock worth $744,000 after purchasing an additional 46,511 shares during the last quarter. SG Americas Securities LLC grew its position in Rimini Street by 23.2% in the fourth quarter. SG Americas Securities LLC now owns 22,527 shares of the company’s stock valued at $60,000 after purchasing an additional 4,238 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in Rimini Street by 38.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 99,602 shares of the company’s stock valued at $184,000 after buying an additional 27,451 shares during the last quarter. 73.75% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, Craig Hallum raised shares of Rimini Street from a “hold” rating to a “buy” rating and lifted their price target for the company from $2.00 to $6.00 in a research note on Tuesday, December 17th.

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.