Panagora Asset Management Inc. Takes Position in RCM Technologies, Inc. (NASDAQ:RCMT)

Panagora Asset Management Inc. acquired a new stake in RCM Technologies, Inc. (NASDAQ:RCMT) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 24,485 shares of the business services provider’s stock, valued at approximately $458,000. Panagora Asset Management Inc. owned 0.32% of RCM Technologies at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of RCMT. Tucker Asset Management LLC boosted its holdings in RCM Technologies by 150.0% in the 4th quarter. Tucker Asset Management LLC now owns 1,250 shares of the business services provider’s stock valued at $36,000 after purchasing an additional 750 shares during the period. Klein Pavlis & Peasley Financial Inc. boosted its stake in RCM Technologies by 19.9% during the second quarter. Klein Pavlis & Peasley Financial Inc. now owns 13,208 shares of the business services provider’s stock valued at $247,000 after buying an additional 2,191 shares during the period. Quadrature Capital Ltd purchased a new position in RCM Technologies during the fourth quarter worth about $252,000. Jump Financial LLC bought a new position in RCM Technologies in the 4th quarter worth about $426,000. Finally, Truvestments Capital LLC raised its holdings in shares of RCM Technologies by 79.3% in the 1st quarter. Truvestments Capital LLC now owns 28,906 shares of the business services provider’s stock valued at $618,000 after acquiring an additional 12,788 shares in the last quarter. Hedge funds and other institutional investors own 43.20% of the company’s stock.

RCM Technologies Price Performance

Shares of NASDAQ:RCMT opened at $19.81 on Wednesday. The company’s fifty day moving average price is $19.15 and its 200-day moving average price is $20.88. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.48 and a quick ratio of 1.48. The firm has a market capitalization of $153.59 million, a price-to-earnings ratio of 9.62 and a beta of 0.64. RCM Technologies, Inc. has a one year low of $17.11 and a one year high of $32.15.

RCM Technologies (NASDAQ:RCMT) last released its earnings results on Wednesday, August 7th. The business services provider reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.50 by ($0.03). The firm had revenue of $69.16 million during the quarter, compared to the consensus estimate of $69.90 million. RCM Technologies had a net margin of 6.19% and a return on equity of 67.39%. During the same period in the prior year, the company earned $0.47 EPS. On average, equities research analysts anticipate that RCM Technologies, Inc. will post 2.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Benchmark reissued a “buy” rating and set a $33.00 price objective on shares of RCM Technologies in a report on Tuesday, August 13th.

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.