Rimini Street (NASDAQ:RMNI) issued its quarterly earnings results on Thursday. The company reported $0.10 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.08, Morningstar.com reports. The business had revenue of $62.63 million for the quarter.

NASDAQ:RMNI traded down $0.47 during trading hours on Friday, reaching $5.98. 60,411 shares of the company’s stock were exchanged, compared to its average volume of 31,448. Rimini Street has a 1-year low of $4.00 and a 1-year high of $9.23.

In related news, President Sebastian Grady sold 13,743 shares of the stock in a transaction on Thursday, September 20th. The shares were sold at an average price of $7.03, for a total transaction of $96,613.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Kevin Maddock sold 31,100 shares of the stock in a transaction on Tuesday, August 14th. The stock was sold at an average price of $6.76, for a total transaction of $210,236.00. The disclosure for this sale can be found here. In the last quarter, insiders have purchased 12,000 shares of company stock valued at $61,300 and have sold 414,525 shares valued at $2,231,987.

Large investors have recently modified their holdings of the stock. Cowen Inc. boosted its stake in Rimini Street by 48.6% during the 2nd quarter. Cowen Inc. now owns 766,778 shares of the company’s stock worth $5,023,000 after purchasing an additional 250,763 shares during the period. Millennium Management LLC lifted its stake in shares of Rimini Street by 147.1% in the 1st quarter. Millennium Management LLC now owns 151,748 shares of the company’s stock worth $1,299,000 after acquiring an additional 90,331 shares during the period. Schwab Charles Investment Management Inc. acquired a new stake in shares of Rimini Street in the 2nd quarter worth $124,000. Ramsey Quantitative Systems lifted its stake in shares of Rimini Street by 102.8% in the 3rd quarter. Ramsey Quantitative Systems now owns 24,487 shares of the company’s stock worth $155,000 after acquiring an additional 12,414 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in shares of Rimini Street in the 2nd quarter worth $116,000. Hedge funds and other institutional investors own 41.39% of the company’s stock.

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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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