RCM Technologies, Inc. $RCMT Shares Acquired by LSV Asset Management

LSV Asset Management lifted its holdings in RCM Technologies, Inc. (NASDAQ:RCMT) by 346.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 34,530 shares of the business services provider’s stock after acquiring an additional 26,793 shares during the quarter. LSV Asset Management owned 0.47% of RCM Technologies worth $814,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RCMT. Police & Firemen s Retirement System of New Jersey purchased a new stake in shares of RCM Technologies in the second quarter worth about $29,000. Significant Wealth Partners LLC lifted its holdings in RCM Technologies by 22.3% in the second quarter. Significant Wealth Partners LLC now owns 12,546 shares of the business services provider’s stock valued at $296,000 after acquiring an additional 2,284 shares during the period. Ritholtz Wealth Management boosted its position in RCM Technologies by 26.0% in the 2nd quarter. Ritholtz Wealth Management now owns 14,300 shares of the business services provider’s stock worth $337,000 after purchasing an additional 2,948 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in RCM Technologies by 4.0% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 17,518 shares of the business services provider’s stock worth $413,000 after purchasing an additional 676 shares in the last quarter. Finally, Jane Street Group LLC grew its stake in shares of RCM Technologies by 41.2% during the 1st quarter. Jane Street Group LLC now owns 23,489 shares of the business services provider’s stock worth $366,000 after purchasing an additional 6,852 shares during the period. 43.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other RCM Technologies news, Chairman Bradley Vizi sold 7,289 shares of the stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $27.51, for a total value of $200,520.39. Following the completion of the sale, the chairman owned 1,531,951 shares in the company, valued at approximately $42,143,972.01. This represents a 0.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Saks sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 26th. The stock was sold at an average price of $27.50, for a total transaction of $137,500.00. Following the completion of the transaction, the insider directly owned 109,547 shares in the company, valued at $3,012,542.50. This trade represents a 4.37% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 33,067 shares of company stock worth $909,503. Insiders own 28.00% of the company’s stock.

Wall Street Analysts Forecast Growth

RCMT has been the subject of several analyst reports. Weiss Ratings reiterated a “hold (c)” rating on shares of RCM Technologies in a research note on Wednesday, October 8th. Zacks Research cut shares of RCM Technologies from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 11th. Finally, Wall Street Zen downgraded shares of RCM Technologies from a “strong-buy” rating to a “buy” rating in a research report on Saturday, October 11th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.00.

RCM Technologies Stock Up 5.3%

Shares of RCMT opened at $19.53 on Friday. The stock has a 50 day moving average price of $23.38 and a 200 day moving average price of $23.89. RCM Technologies, Inc. has a one year low of $13.18 and a one year high of $28.27. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.85 and a current ratio of 1.85. The stock has a market capitalization of $144.74 million, a price-to-earnings ratio of 11.10 and a beta of 0.12.

RCM Technologies (NASDAQ:RCMT) last announced its quarterly earnings data on Wednesday, November 5th. The business services provider reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by ($0.03). RCM Technologies had a net margin of 4.53% and a return on equity of 39.98%. The firm had revenue of $70.29 million during the quarter, compared to analysts’ expectations of $67.34 million.

About RCM Technologies

RCM Technologies, Inc provides business and technology solutions in the United States, Canada, Puerto Rico, and Europe. It operates through three segments: Engineering, Specialty Health Care, and Life Sciences and Information Technology. The Engineering segment offers a range of engineering services, including project management engineering and design, engineering analysis, engineer-procure-construct, configuration management, hardware/software validation and verification, quality assurance, technical writing and publications, manufacturing process planning and improvement, and 3D/BIM integrated design.