Rimini Street (NASDAQ:RMNI) Posts Quarterly Earnings Results, Beats Estimates By $0.06 EPS

Rimini Street (NASDAQ:RMNI) posted its quarterly earnings data on Thursday. The company reported $0.10 EPS for the quarter, topping the consensus estimate of $0.04 by $0.06, Fidelity Earnings reports. Rimini Street had a negative return on equity of 8.20% and a negative net margin of 15.41%. The firm had revenue of $68.95 million for the quarter, compared to the consensus estimate of $69.21 million.

Shares of NASDAQ RMNI traded up $0.18 during trading on Friday, hitting $4.14. The company had a trading volume of 54,600 shares, compared to its average volume of 60,725. The firm has a market capitalization of $272.79 million, a P/E ratio of -12.94, a price-to-earnings-growth ratio of 0.59 and a beta of -0.15. Rimini Street has a 12 month low of $3.63 and a 12 month high of $7.26. The stock has a 50 day simple moving average of $4.14 and a 200 day simple moving average of $4.76.

Separately, Zacks Investment Research raised Rimini Street from a “hold” rating to a “buy” rating and set a $4.50 price objective on the stock in a research note on Saturday.

In other news, SVP Kevin Maddock sold 16,500 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $4.77, for a total value of $78,705.00. Also, CMO David W. Rowe sold 200,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $4.72, for a total value of $944,000.00. Following the sale, the chief marketing officer now directly owns 177,969 shares of the company’s stock, valued at $840,013.68. The disclosure for this sale can be found here. Insiders sold a total of 491,526 shares of company stock valued at $2,239,344 over the last ninety days. Corporate insiders own 64.25% 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.

Further Reading: How is Preferred Stock Different from Common Stock?

Earnings History for Rimini Street (NASDAQ:RMNI)

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