Renaissance Technologies LLC Decreases Stake in RCM Technologies, Inc. (NASDAQ:RCMT)

Renaissance Technologies LLC lessened its stake in RCM Technologies, Inc. (NASDAQ:RCMT) by 8.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 485,473 shares of the business services provider’s stock after selling 45,858 shares during the quarter. Renaissance Technologies LLC owned 6.39% of RCM Technologies worth $10,758,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RCMT. Russell Investments Group Ltd. purchased a new position in RCM Technologies in the fourth quarter valued at about $840,000. Pacific Ridge Capital Partners LLC purchased a new position in RCM Technologies in the 4th quarter valued at approximately $2,668,000. Truvestments Capital LLC raised its holdings in RCM Technologies by 31.2% during the fourth quarter. Truvestments Capital LLC now owns 46,125 shares of the business services provider’s stock worth $1,022,000 after purchasing an additional 10,977 shares during the last quarter. Klein Pavlis & Peasley Financial Inc. raised its holdings in RCM Technologies by 60.5% during the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 20,881 shares of the business services provider’s stock worth $463,000 after purchasing an additional 7,869 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in RCM Technologies by 16.6% in the third quarter. JPMorgan Chase & Co. now owns 11,539 shares of the business services provider’s stock valued at $234,000 after purchasing an additional 1,639 shares during the last quarter. Institutional investors and hedge funds own 43.20% of the company’s stock.

Wall Street Analyst Weigh In

RCMT has been the subject of several research reports. Benchmark cut their price target on RCM Technologies from $37.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, March 21st. StockNews.com upgraded shares of RCM Technologies from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, B. Riley upgraded shares of RCM Technologies to a “strong-buy” rating in a research report on Tuesday, March 18th.

RCM Technologies Stock Up 0.7 %

RCMT opened at $16.18 on Thursday. The firm has a market cap of $122.79 million, a P/E ratio of 8.30 and a beta of 0.21. The business’s fifty day simple moving average is $17.27 and its 200 day simple moving average is $20.12. RCM Technologies, Inc. has a 52 week low of $13.18 and a 52 week high of $26.37. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.06.

RCM Technologies (NASDAQ:RCMT) last issued its quarterly earnings results on Wednesday, March 12th. The business services provider reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.37). RCM Technologies had a return on equity of 58.70% and a net margin of 5.77%. The firm had revenue of $76.91 million for the quarter, compared to analysts’ expectations of $79.00 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.