Brokerages Anticipate Rimini Street Inc (RMNI) to Announce $0.03 Earnings Per Share

Rimini Street Inc (NASDAQ:RMNI) has earned a consensus broker rating score of 1.00 (Strong Buy) from the two analysts that cover the stock, Zacks Investment Research reports. Two analysts have rated the stock with a strong buy recommendation.

Analysts have set a 1-year consensus target price of $10.75 for the company and are anticipating that the company will post $0.03 EPS for the current quarter, according to Zacks. Zacks has also assigned Rimini Street an industry rank of 30 out of 256 based on the ratings given to related companies.

A number of brokerages have recently commented on RMNI. Zacks Investment Research upgraded Rimini Street from a “hold” rating to a “buy” rating and set a $5.75 price target on the stock in a report on Thursday, November 29th. Roth Capital began coverage on Rimini Street in a report on Wednesday, December 19th. They issued a “buy” rating and a $10.00 price target on the stock.

In related news, SVP Kevin Maddock sold 92,427 shares of the company’s stock in a transaction dated Thursday, November 15th. The stock was sold at an average price of $5.42, for a total transaction of $500,954.34. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Thomas C. Shay sold 15,000 shares of the company’s stock in a transaction dated Friday, January 11th. The stock was sold at an average price of $5.42, for a total value of $81,300.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 350,781 shares of company stock worth $1,862,348.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers bought a new stake in Rimini Street during the fourth quarter worth about $57,000. NJ State Employees Deferred Compensation Plan raised its holdings in Rimini Street by 50.0% during the fourth quarter. NJ State Employees Deferred Compensation Plan now owns 21,000 shares of the company’s stock worth $108,000 after acquiring an additional 7,000 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in Rimini Street during the second quarter worth about $116,000. Schwab Charles Investment Management Inc. bought a new stake in Rimini Street during the second quarter worth about $124,000. Finally, Ramsey Quantitative Systems raised its holdings in Rimini Street by 102.8% during the third quarter. Ramsey Quantitative Systems now owns 24,487 shares of the company’s stock worth $155,000 after acquiring an additional 12,414 shares in the last quarter. Institutional investors and hedge funds own 43.40% of the company’s stock.

Shares of Rimini Street stock opened at $5.30 on Friday. Rimini Street has a one year low of $4.00 and a one year high of $8.73.

Rimini Street (NASDAQ:RMNI) last issued its quarterly earnings results on Thursday, November 8th. The company reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.08. The firm had revenue of $62.63 million during the quarter. As a group, equities research analysts predict that Rimini Street will post -0.27 EPS for the current year.

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.

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