Rimini Street Inc (NASDAQ:RMNI) Given Consensus Rating of “Strong Buy” by Brokerages

Rimini Street Inc (NASDAQ:RMNI) has been given an average broker rating score of 1.00 (Strong Buy) from the two brokers that cover the company, 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 $10.00 for the company and are predicting that the company will post $0.05 EPS for the current quarter, according to Zacks. Zacks has also assigned Rimini Street an industry rank of 96 out of 256 based on the ratings given to related companies.

Separately, Zacks Investment Research raised shares of Rimini Street from a “sell” rating to a “hold” rating in a research report on Thursday, July 11th.

Rimini Street stock traded up $0.01 during midday trading on Thursday, hitting $4.76. 113,930 shares of the company’s stock were exchanged, compared to its average volume of 53,358. The business has a 50 day moving average price of $5.04. The stock has a market cap of $314.70 million and a PE ratio of -14.91. Rimini Street has a 12-month low of $4.00 and a 12-month high of $7.46.

Rimini Street (NASDAQ:RMNI) last announced its earnings results on Thursday, August 8th. The company reported ($0.01) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.05). Rimini Street had a negative return on equity of 8.15% and a negative net margin of 15.41%. The firm had revenue of $67.96 million during the quarter, compared to analyst estimates of $67.35 million. Equities analysts forecast that Rimini Street will post 0.19 EPS for the current year.

In other Rimini Street news, President Sebastian Grady sold 105,949 shares of the business’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $5.18, for a total transaction of $548,815.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Nancy Lyskawa sold 45,000 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was sold at an average price of $4.83, for a total value of $217,350.00. The disclosure for this sale can be found here. Insiders have sold 700,068 shares of company stock worth $3,595,689 in the last ninety days. 64.25% of the stock is currently owned by insiders.

Large investors have recently made changes to their positions in the business. BlackRock Inc. raised its stake in shares of Rimini Street by 3.8% during the 4th quarter. BlackRock Inc. now owns 468,431 shares of the company’s stock valued at $2,411,000 after purchasing an additional 17,343 shares during the period. Northern Trust Corp boosted its holdings in shares of Rimini Street by 2.1% in the fourth quarter. Northern Trust Corp now owns 100,710 shares of the company’s stock valued at $519,000 after purchasing an additional 2,054 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Rimini Street in the first quarter valued at approximately $53,000. NJ State Employees Deferred Compensation Plan boosted its holdings in shares of Rimini Street by 9.5% in the first quarter. NJ State Employees Deferred Compensation Plan now owns 23,000 shares of the company’s stock valued at $115,000 after purchasing an additional 2,000 shares during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of Rimini Street in the second quarter valued at approximately $153,000. 41.11% of the stock is owned by hedge funds and other institutional investors.

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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