Sanctuary Advisors LLC Purchases Shares of 12,330 RCM Technologies, Inc. (NASDAQ:RCMT)

Sanctuary Advisors LLC acquired a new position in shares of RCM Technologies, Inc. (NASDAQ:RCMT) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 12,330 shares of the business services provider’s stock, valued at approximately $265,000. Sanctuary Advisors LLC owned about 0.16% of RCM Technologies as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Panagora Asset Management Inc. acquired a new stake in RCM Technologies during the second quarter worth about $458,000. Marshall Wace LLP grew its holdings in shares of RCM Technologies by 174.0% during the 2nd quarter. Marshall Wace LLP now owns 38,392 shares of the business services provider’s stock worth $719,000 after purchasing an additional 24,380 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in RCM Technologies during the 3rd quarter worth approximately $425,000. Exchange Traded Concepts LLC purchased a new position in RCM Technologies in the third quarter valued at approximately $315,000. Finally, Barclays PLC acquired a new position in RCM Technologies during the third quarter valued at approximately $180,000. 43.20% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other RCM Technologies news, insider Michael Saks sold 2,852 shares of RCM Technologies stock in a transaction that occurred on Wednesday, December 4th. The stock was sold at an average price of $23.99, for a total transaction of $68,419.48. Following the sale, the insider now directly owns 114,158 shares in the company, valued at $2,738,650.42. The trade was a 2.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 26.40% of the stock is currently owned by company insiders.

RCM Technologies Trading Up 0.9 %

NASDAQ RCMT opened at $23.17 on Friday. The stock has a market cap of $176.02 million, a P/E ratio of 11.88 and a beta of 0.64. The company’s fifty day simple moving average is $22.66 and its 200-day simple moving average is $20.62. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.06. RCM Technologies, Inc. has a 52 week low of $17.11 and a 52 week high of $32.15.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RCMT. StockNews.com downgraded shares of RCM Technologies from a “buy” rating to a “hold” rating in a research note on Monday, November 11th. B. Riley raised their price objective on RCM Technologies from $35.00 to $37.00 and gave the company a “buy” rating in a research report on Monday, November 11th. Finally, Benchmark upped their target price on RCM Technologies from $33.00 to $37.00 and gave the stock a “buy” rating in a research report on Monday, November 11th.

RCM Technologies 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.