Connor Clark & Lunn Investment Management Ltd. Sells 4,330 Shares of RCM Technologies, Inc. (NASDAQ:RCMT)

Connor Clark & Lunn Investment Management Ltd. lessened its stake in RCM Technologies, Inc. (NASDAQ:RCMT) by 20.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,640 shares of the business services provider’s stock after selling 4,330 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned 0.22% of RCM Technologies worth $369,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Sanctuary Advisors LLC purchased a new position in shares of RCM Technologies in the 3rd quarter worth approximately $265,000. State Street Corp grew its holdings in RCM Technologies by 6.7% in the third quarter. State Street Corp now owns 25,555 shares of the business services provider’s stock worth $518,000 after purchasing an additional 1,600 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in shares of RCM Technologies during the third quarter worth $48,000. JPMorgan Chase & Co. lifted its holdings in shares of RCM Technologies by 16.6% during the 3rd 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. Finally, Barclays PLC acquired a new stake in shares of RCM Technologies in the 3rd quarter worth $180,000. 43.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on RCMT. B. Riley upgraded RCM Technologies to a “strong-buy” rating in a research note on Tuesday, March 18th. Benchmark decreased their price objective on shares of RCM Technologies from $37.00 to $30.00 and set a “buy” rating for the company in a research report on Friday.

RCM Technologies Stock Performance

Shares of RCMT stock opened at $15.14 on Monday. The business has a fifty day moving average of $18.81 and a 200 day moving average of $20.67. RCM Technologies, Inc. has a 1 year low of $13.18 and a 1 year high of $26.37. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.63 and a quick ratio of 1.63. The firm has a market capitalization of $114.90 million, a price-to-earnings ratio of 7.76 and a beta of 0.58.

RCM Technologies (NASDAQ:RCMT) last released its 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 analyst estimates 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.