RCM Technologies, Inc. $RCMT Stock Holdings Lowered by Ballast Asset Management LP

Ballast Asset Management LP decreased its position in shares of RCM Technologies, Inc. (NASDAQ:RCMT) by 12.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 138,991 shares of the business services provider’s stock after selling 20,640 shares during the period. RCM Technologies comprises 2.5% of Ballast Asset Management LP’s investment portfolio, making the stock its 10th largest position. Ballast Asset Management LP’s holdings in RCM Technologies were worth $5,654,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Renaissance Technologies LLC raised its holdings in RCM Technologies by 3.6% in the 1st quarter. Renaissance Technologies LLC now owns 434,877 shares of the business services provider’s stock worth $8,324,000 after acquiring an additional 15,304 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in RCM Technologies by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 169,945 shares of the business services provider’s stock valued at $3,253,000 after acquiring an additional 1,774 shares in the last quarter. Punch & Associates Investment Management Inc. lifted its position in RCM Technologies by 12.8% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 153,511 shares of the business services provider’s stock valued at $2,938,000 after acquiring an additional 17,433 shares in the last quarter. Sei Investments Co. lifted its position in RCM Technologies by 209.9% in the 1st quarter. Sei Investments Co. now owns 126,872 shares of the business services provider’s stock valued at $2,428,000 after acquiring an additional 85,936 shares in the last quarter. Finally, Inspire Investing LLC purchased a new stake in RCM Technologies during the 3rd quarter valued at $2,487,000. Institutional investors own 43.20% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. B. Riley Financial lifted their target price on RCM Technologies from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, August 17th. Wall Street Zen raised RCM Technologies from a “hold” rating to a “strong-buy” rating in a report on Sunday, August 16th. Zacks Research downgraded RCM Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 13th. Benchmark increased their price objective on RCM Technologies from $36.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, August 17th. Finally, Weiss Ratings upgraded RCM Technologies from a “hold (c+)” rating to a “buy (b)” rating in a report on Thursday, October 8th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $45.00.

RCM Technologies Stock Up 5.5%

RCMT opened at $33.82 on Tuesday. The stock has a market capitalization of $240.46 million, a price-to-earnings ratio of 15.17 and a beta of 0.48. The firm has a 50 day moving average price of $38.96 and a 200-day moving average price of $28.96. RCM Technologies, Inc. has a twelve month low of $17.26 and a twelve month high of $43.68. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.48.

RCM Technologies (NASDAQ:RCMT) last issued its earnings results on Thursday, August 13th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.20. RCM Technologies had a net margin of 5.13% and a return on equity of 37.92%. The company had revenue of $93.82 million for the quarter, compared to analysts’ expectations of $81.75 million. Equities research analysts forecast that RCM Technologies, Inc. will post 2.24 earnings per share for the current year.

Insider Buying and Selling at RCM Technologies

In other news, insider Michael Saks sold 706 shares of the stock in a transaction on Friday, August 21st. The stock was sold at an average price of $41.12, for a total transaction of $29,030.72. Following the transaction, the insider directly owned 88,601 shares of the company’s stock, valued at $3,643,273.12. This represents a 0.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Bradley Vizi sold 74,719 shares of the firm’s stock in a transaction on Monday, August 17th. The stock was sold at an average price of $38.86, for a total value of $2,903,580.34. Following the completion of the transaction, the chairman owned 1,402,477 shares in the company, valued at approximately $54,500,256.22. This trade represents a 5.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 219,997 shares of company stock worth $8,238,837. Insiders own 28.00% of the company’s stock.

RCM Technologies Company Profile

RCM Technologies, Inc (NASDAQ: RCMT) is a provider of business and technology solutions for commercial and government organizations. The company delivers consulting, staffing, project management and implementation services designed to support clients’ operational, technical and workforce needs.

RCM Technologies operates through service areas that include engineering, life sciences and information technology. Its engineering business supports infrastructure, utilities, transportation, aerospace and defense, and other industrial and public-sector projects.