Ritholtz Wealth Management Trims Stake in RCM Technologies, Inc. (NASDAQ:RCMT)

Ritholtz Wealth Management reduced its stake in shares of RCM Technologies, Inc. (NASDAQ:RCMT) by 33.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,352 shares of the business services provider’s stock after selling 5,717 shares during the quarter. Ritholtz Wealth Management owned 0.15% of RCM Technologies worth $177,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of RCMT. Truvestments Capital LLC raised its position 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 valued at $1,022,000 after acquiring an additional 10,977 shares in the last quarter. Pacific Ridge Capital Partners LLC purchased a new position in RCM Technologies during the fourth quarter valued at approximately $2,668,000. Russell Investments Group Ltd. purchased a new position in RCM Technologies during the fourth quarter valued at approximately $840,000. Barclays PLC raised its position in RCM Technologies by 17.1% during the fourth quarter. Barclays PLC now owns 10,405 shares of the business services provider’s stock valued at $231,000 after acquiring an additional 1,517 shares in the last quarter. Finally, Schonfeld Strategic Advisors LLC purchased a new position in RCM Technologies during the fourth quarter valued at approximately $258,000. 43.20% of the stock is currently owned by hedge funds and other institutional investors.

RCM Technologies Stock Down 3.9%

Shares of RCMT opened at $22.14 on Friday. The company has a current ratio of 1.62, a quick ratio of 1.62 and a debt-to-equity ratio of 0.70. RCM Technologies, Inc. has a 12 month low of $13.18 and a 12 month high of $26.37. The stock’s 50 day moving average is $20.57 and its two-hundred day moving average is $19.72. The firm has a market cap of $163.92 million, a P/E ratio of 12.80 and a beta of 0.28.

RCM Technologies (NASDAQ:RCMT) last issued its quarterly earnings data on Wednesday, May 14th. The business services provider reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). RCM Technologies had a net margin of 4.66% and a return on equity of 42.85%. The business had revenue of $84.47 million during the quarter, compared to analyst estimates of $76.04 million.

Analysts Set New Price Targets

RCMT has been the subject of several recent research reports. Benchmark reduced their price target on RCM Technologies from $37.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, March 21st. B. Riley raised RCM Technologies to a “strong-buy” rating in a report on Tuesday, March 18th. Finally, Wall Street Zen raised RCM Technologies from a “buy” rating to a “strong-buy” rating in a report on Friday, May 9th.

RCM Technologies Company Profile

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.