Rimini street EVP Nancy Lyskawa sells $13,131 in stock

Nancy Lyskawa, Executive Vice President and Chief Client Officer of Rimini Street , Inc. (NASDAQ:RMNI), reported a sale of company stock on February 3, 2025. Lyskawa sold 4,710 shares at a price of $2.788 per share, totaling $13,131. This transaction was an automatically-triggered "sell-to-cover" to fulfill tax withholding obligations associated with the vesting of Restricted Stock Units (RSUs), and was not initiated by Lyskawa herself. The transaction comes as RMNI shares have shown strong momentum, with a remarkable 59% gain over the past six months.

Additionally, Lyskawa acquired 13,334 shares of common stock through the vesting of RSUs, which were part of a grant made on February 3, 2022. Following these transactions, Lyskawa holds 133,295 shares of Rimini Street common stock, representing a significant stake in the $269 million market cap company. According to InvestingPro analysis, RMNI currently appears undervalued, with multiple growth indicators suggesting potential upside. Discover detailed valuation metrics and 8 additional key insights with an InvestingPro subscription.

In other recent news, Rimini Street is experiencing significant developments. The company’s shares were upgraded from Hold to Buy by a Craig-Hallum analyst, following a favorable ruling in the Appeals Court. The court reversed many of the previous district court’s decisions against Rimini Street in its ongoing legal battle with Oracle (NYSE:ORCL). This reversal could have positive implications for the company’s appeal for a refund of the $58.5M in legal fees paid to Oracle and suggests Rimini Street may continue servicing certain software environments.

The analyst noted that while some aspects of the case may still result in rulings against Rimini Street, these potential restrictions are viewed as narrower and manageable. This development is seen as reducing the legal hindrances for Rimini Street, allowing it to concentrate on its business model and growth. Despite previous legal challenges, Rimini Street demonstrated a robust financial quarter, with increases in Annual Recurring Revenue (ARR), billings, clients, and retention rates.

A new price target of $6.00 was set, reflecting a valuation of 1.5 times Revenue and 12.2 times EBITDA. The analyst’s outlook suggests a significant undervaluation of Rimini Street’s stock, considering its strong momentum and recent cost reductions. These are recent developments in the company’s trajectory, and further updates are anticipated as the situation unfolds.

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