Rimini Street Inc (NASDAQ:RMNI) has a beta value of 1.34 and has seen 1.78 million shares traded in the last trading session. The company, currently valued at $247.30M, closed the last trade at $2.72 per share which meant it gained $0.1 on the day or 3.82% during that session. The RMNI stock price is -26.1% off its 52-week high price of $3.43 and 43.75% above the 52-week low of $1.53. If we look at the company’s 10-day average daily trading volume, we find that it stood at 0.5 million shares traded. The 3-month trading volume is 317.91K shares.
The consensus among analysts is that Rimini Street Inc (RMNI) is Buy stock at the moment, with a recommendation rating of 2.00. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 1 out of 5 have rated it as a Hold, with 4 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is 0.1.
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Rimini Street Inc (NASDAQ:RMNI) trade information
Sporting 3.82% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on recent trading when the RMNI stock price touched $2.72 or saw a rise of 9.33%. Year-to-date, Rimini Street Inc shares have moved -16.82%, while the 5-day performance has seen it change 28.91%. Over the past 30 days, the shares of Rimini Street Inc (NASDAQ:RMNI) have changed 42.41%. Short interest in the company has seen 1.44 million shares shorted with days to cover at 4.49.
Wall Street analysts have a consensus price target for the stock at $3, which means that the shares’ value could jump 9.33% from current levels. The projected low price target is $3.0 while the price target rests at a high of $3.0. In that case, then, we find that the current price level is -10.29% off the targeted high while a plunge would see the stock gain -10.29% from current levels.
Rimini Street Inc (RMNI) estimates and forecasts
Figures show that Rimini Street Inc shares have underperformed across the wider relevant industry. The company’s shares have lost -4.23% over the past 6 months, with this year growth rate of -12.96%, compared to 25.70% for the industry. Revenue growth from the last financial year stood is estimated to be -3.35%.
4 analysts offering their estimates for the company have set an average revenue estimate of 102.51M for the current quarter. 4 have an estimated revenue figure of 98.08M for the next ending quarter. Year-ago sales stood 112.11M and 106.75M respectively for this quarter and the next, and analysts expect sales will shrink by -8.57% for the current quarter and -3.35% for the next.
Earnings growth for 2024 is a modest -14.77% while over the next 5 years, the company’s earnings are expected to increase by 10.00%.
RMNI Dividends
Rimini Street Inc is expected to release its next earnings report in January this year, and investors are excited at the prospect of better dividends despite the company’s debt issue.
Rimini Street Inc (NASDAQ:RMNI)’s Major holders
Insiders own 21.61% of the company shares, while shares held by institutions stand at 66.92% with a share float percentage of 85.37%. Investors are also buoyed by the number of investors in a company, with Rimini Street Inc having a total of 135.0 institutions that hold shares in the company. The top two institutional holders are ADAMS STREET PARTNERS LLC with over 23.57 million shares worth more than $72.35 million. As of 2024-06-30, ADAMS STREET PARTNERS LLC held 26.2556% of shares outstanding.
The other major institutional holder is CONIFER MANAGEMENT, L.L.C., with the holding of over 5.91 million shares as of 2024-06-30. The firm’s total holdings are worth over $18.15 million and represent 6.5882% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF . As of Sep 30, 2024 , the former fund manager holds about 2.42% shares in the company for having 2.2 shares of worth $5.97 million while later fund manager owns 1.31 shares of worth $3.56 million as of Sep 30, 2024 , which makes it owner of about 1.44% of company’s outstanding stock.
