Renaissance Technologies LLC Decreases Position in RCM Technologies, Inc. (NASDAQ:RCMT)

Renaissance Technologies LLC decreased its stake in RCM Technologies, Inc. (NASDAQ:RCMT) by 2.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 539,373 shares of the business services provider’s stock after selling 15,400 shares during the quarter. Renaissance Technologies LLC owned about 6.96% of RCM Technologies worth $10,097,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Tucker Asset Management LLC boosted its stake in RCM Technologies by 150.0% during the fourth quarter. Tucker Asset Management LLC now owns 1,250 shares of the business services provider’s stock worth $36,000 after buying an additional 750 shares during the period. Klein Pavlis & Peasley Financial Inc. raised its position in RCM Technologies by 19.9% in the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 13,208 shares of the business services provider’s stock worth $247,000 after purchasing an additional 2,191 shares during the period. Janney Montgomery Scott LLC raised its position in RCM Technologies by 8.8% in the 1st quarter. Janney Montgomery Scott LLC now owns 33,979 shares of the business services provider’s stock worth $726,000 after purchasing an additional 2,737 shares during the period. Hillsdale Investment Management Inc. lifted its stake in RCM Technologies by 9.8% in the first quarter. Hillsdale Investment Management Inc. now owns 42,733 shares of the business services provider’s stock worth $913,000 after purchasing an additional 3,800 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its position in shares of RCM Technologies by 13.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 73,506 shares of the business services provider’s stock valued at $1,571,000 after buying an additional 8,513 shares during the period. Hedge funds and other institutional investors own 43.20% of the company’s stock.

Analyst Upgrades and Downgrades

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

RCM Technologies Stock Up 1.5 %

Shares of RCMT opened at $20.37 on Tuesday. The firm has a market capitalization of $157.93 million, a P/E ratio of 9.89 and a beta of 0.64. RCM Technologies, Inc. has a 12-month low of $17.11 and a 12-month high of $32.15. The firm has a fifty day moving average price of $19.40 and a 200-day moving average price of $20.03. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.84.

RCM Technologies (NASDAQ:RCMT) last issued 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). RCM Technologies had a return on equity of 67.39% and a net margin of 6.19%. The company had revenue of $69.16 million during the quarter, compared to the consensus estimate of $69.90 million. During the same quarter in the prior year, the company earned $0.47 earnings per share. Equities research analysts expect that RCM Technologies, Inc. will post 2.06 earnings per share for the current year.

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.