Rimini Street Inc (NASDAQ:RMNI) Short Interest Update

Rimini Street Inc (NASDAQ:RMNI) was the target of a significant decline in short interest in the month of July. As of July 31st, there was short interest totalling 457,100 shares, a decline of 10.0% from the June 30th total of 507,900 shares. Based on an average trading volume of 83,100 shares, the days-to-cover ratio is presently 5.5 days. Currently, 3.7% of the shares of the company are short sold.

Shares of Rimini Street stock traded up $0.01 on Thursday, reaching $4.76. 113,900 shares of the stock were exchanged, compared to its average volume of 53,358. Rimini Street has a 1-year low of $4.00 and a 1-year high of $7.46. The business has a fifty day moving average price of $5.03 and a two-hundred day moving average price of $5.13. The firm has a market capitalization of $314.70 million and a PE ratio of -14.88.

Rimini Street (NASDAQ:RMNI) last issued its quarterly earnings results on Thursday, August 8th. The company reported ($0.01) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $67.35 million. On average, sell-side analysts anticipate that Rimini Street will post 0.19 earnings per share for the current fiscal year.

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

In other news, SVP Nancy Lyskawa sold 45,000 shares of the business’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $4.97, for a total transaction of $223,650.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Sebastian Grady sold 8,807 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $5.18, for a total transaction of $45,620.26. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 700,068 shares of company stock worth $3,595,689. Company insiders own 64.25% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. grew its position in Rimini Street by 114.5% during the second quarter. JPMorgan Chase & Co. now owns 5,418 shares of the company’s stock worth $28,000 after buying an additional 2,892 shares during the period. Strs Ohio acquired a new position in Rimini Street during the second quarter worth about $29,000. SG Americas Securities LLC acquired a new position in Rimini Street during the first quarter worth about $53,000. Marshall Wace LLP acquired a new position in Rimini Street during the second quarter worth about $84,000. Finally, NJ State Employees Deferred Compensation Plan grew its position in Rimini Street by 9.5% during the first quarter. NJ State Employees Deferred Compensation Plan now owns 23,000 shares of the company’s stock worth $115,000 after buying an additional 2,000 shares during the period. Institutional investors own 41.11% of the company’s stock.

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.

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