Rimini Street (RMNI) Posts Quarterly Earnings Results, Beats Estimates By $0.08 EPS

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Rimini Street (NASDAQ:RMNI) released its quarterly earnings data on Thursday. The company reported $0.10 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.02 by $0.08, Morningstar.com reports. The firm had revenue of $62.63 million during the quarter.

RMNI stock traded down $0.47 during trading on Friday, hitting $5.98. The company had a trading volume of 60,411 shares, compared to its average volume of 31,448. Rimini Street has a one year low of $4.00 and a one year high of $9.23.

In related news, CFO Thomas B. Sabol bought 5,000 shares of Rimini Street stock in a transaction that occurred on Friday, August 17th. The shares were acquired at an average cost of $5.31 per share, for a total transaction of $26,550.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Kevin Maddock sold 31,100 shares of the company’s stock in a transaction that occurred on Tuesday, August 14th. The shares were sold at an average price of $6.76, for a total value of $210,236.00. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 12,000 shares of company stock worth $61,300 and sold 414,525 shares worth $2,231,987.

Hedge funds have recently made changes to their positions in the stock. Cowen Inc. boosted its holdings in Rimini Street by 48.6% in the second quarter. Cowen Inc. now owns 766,778 shares of the company’s stock valued at $5,023,000 after acquiring an additional 250,763 shares during the last quarter. Millennium Management LLC boosted its holdings in Rimini Street by 147.1% in the first quarter. Millennium Management LLC now owns 151,748 shares of the company’s stock valued at $1,299,000 after acquiring an additional 90,331 shares during the last quarter. Schwab Charles Investment Management Inc. bought a new stake in Rimini Street in the second quarter valued at approximately $124,000. Ramsey Quantitative Systems boosted its holdings in Rimini Street by 102.8% in the third quarter. Ramsey Quantitative Systems now owns 24,487 shares of the company’s stock valued at $155,000 after acquiring an additional 12,414 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in Rimini Street in the second quarter valued at approximately $116,000. Institutional investors and hedge funds own 41.39% of the company’s stock.

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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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