Acadian Asset Management LLC trimmed its position in RCM Technologies, Inc. (NASDAQ:RCMT – Free Report) by 95.6% in the second quarter, according to its most recent filing with the SEC. The institutional investor owned 4,433 shares of the business services provider’s stock after selling 96,869 shares during the period. Acadian Asset Management LLC owned about 0.05% of RCM Technologies worth $81,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RCMT. Citigroup Inc. bought a new position in shares of RCM Technologies in the first quarter valued at approximately $26,000. JPMorgan Chase & Co. bought a new position in RCM Technologies in the 2nd quarter valued at $52,000. Barclays PLC purchased a new stake in shares of RCM Technologies during the 1st quarter valued at $53,000. Tower Research Capital LLC TRC bought a new stake in shares of RCM Technologies during the 1st quarter worth $63,000. Finally, Advisor Group Holdings Inc. purchased a new position in shares of RCM Technologies in the 1st quarter worth about $69,000. Hedge funds and other institutional investors own 31.41% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts recently issued reports on the stock. Benchmark raised their price objective on shares of RCM Technologies from $28.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, November 13th. B. Riley raised their price target on shares of RCM Technologies from $19.00 to $22.00 and gave the stock a “buy” rating in a research note on Monday, August 14th. Finally, StockNews.com upgraded RCM Technologies from a “buy” rating to a “strong-buy” rating in a research note on Thursday, November 9th.
RCM Technologies Price Performance
NASDAQ RCMT opened at $25.00 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.31. The company has a market cap of $195.75 million, a PE ratio of 13.74 and a beta of 0.84. RCM Technologies, Inc. has a 52 week low of $10.11 and a 52 week high of $25.46. The firm’s 50-day simple moving average is $20.28 and its two-hundred day simple moving average is $18.89.
In related news, Chairman Bradley Vizi sold 9,227 shares of the firm’s stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $25.04, for a total value of $231,044.08. Following the completion of the transaction, the chairman now directly owns 1,640,587 shares of the company’s stock, valued at approximately $41,080,298.48. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 32.30% of the company’s stock.
About RCM Technologies
RCM Technologies, Inc provides business and technology solutions in the United States, Canada, Puerto Rico, and Serbia. 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.
- Five stocks we like better than RCM Technologies
- 3 Monster Growth Stocks to Buy Now
- The most upgraded stocks in November have two things in common
- Manufacturing Stocks Investing
- Monday.com rocked earnings like it’s the weekend
- Why Understanding Call Option Volume is Essential to Successful Options Trading
- Plan to own one retailer? Make it this one
Receive News & Ratings for RCM Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for RCM Technologies and related companies with MarketBeat.com's FREE daily email newsletter.