Rimini Street Inc (NASDAQ:RMNI) Short Interest Down 36.6% in June

Rimini Street Inc (NASDAQ:RMNI) saw a significant decrease in short interest in the month of June. As of June 15th, there was short interest totalling 126,600 shares, a decrease of 36.6% from the May 15th total of 199,700 shares. Approximately 1.0% of the company’s shares are short sold. Based on an average daily volume of 60,600 shares, the short-interest ratio is currently 2.1 days.

RMNI traded down $0.08 on Wednesday, hitting $5.10. The company had a trading volume of 61,054 shares, compared to its average volume of 43,511. Rimini Street has a 52-week low of $4.00 and a 52-week high of $8.55. The business has a fifty day simple moving average of $4.98. The firm has a market cap of $338.09 million and a price-to-earnings ratio of -15.94.

Separately, Zacks Investment Research upgraded shares of Rimini Street from a “hold” rating to a “buy” rating and set a $6.00 target price for the company in a report on Wednesday, March 20th.

In other news, President Sebastian Grady sold 105,949 shares of the stock in a transaction dated Tuesday, June 25th. The shares were sold at an average price of $5.18, for a total transaction of $548,815.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders have sold 600,075 shares of company stock valued at $3,112,825. 64.25% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. NJ State Employees Deferred Compensation Plan lifted its holdings in 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 worth $115,000 after buying an additional 2,000 shares during the period. Northern Trust Corp lifted its holdings in Rimini Street by 2.1% in the fourth quarter. Northern Trust Corp now owns 100,710 shares of the company’s stock worth $519,000 after buying an additional 2,054 shares during the period. SG Americas Securities LLC purchased a new stake in Rimini Street in the first quarter worth about $53,000. Rhumbline Advisers purchased a new stake in Rimini Street in the fourth quarter worth about $57,000. Finally, BlackRock Inc. lifted its holdings in Rimini Street by 3.8% in the fourth quarter. BlackRock Inc. now owns 468,431 shares of the company’s stock worth $2,411,000 after buying an additional 17,343 shares during the period. Institutional investors and hedge funds own 41.68% 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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