JPMorgan Chase & Co. Increases Holdings in RCM Technologies, Inc. (NASDAQ:RCMT)

JPMorgan Chase & Co. boosted its position in RCM Technologies, Inc. (NASDAQ:RCMT) by 16.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,539 shares of the business services provider’s stock after buying an additional 1,639 shares during the period. JPMorgan Chase & Co. owned approximately 0.15% of RCM Technologies worth $234,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Sanctuary Advisors LLC purchased a new stake in shares of RCM Technologies in the 3rd quarter valued at $265,000. Marshall Wace LLP lifted its position in RCM Technologies by 174.0% during the second quarter. Marshall Wace LLP now owns 38,392 shares of the business services provider’s stock valued at $719,000 after purchasing an additional 24,380 shares during the period. State Street Corp lifted its position in RCM Technologies by 6.7% during the third quarter. State Street Corp now owns 25,555 shares of the business services provider’s stock valued at $518,000 after purchasing an additional 1,600 shares during the period. BNP Paribas Financial Markets purchased a new stake in RCM Technologies in the third quarter valued at $48,000. Finally, Barclays PLC acquired a new stake in RCM Technologies during the 3rd quarter worth about $180,000. Institutional investors and hedge funds own 43.20% of the company’s stock.

RCM Technologies Trading Down 2.7 %

NASDAQ RCMT opened at $19.53 on Friday. 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 stock has a market capitalization of $148.43 million, a P/E ratio of 10.02 and a beta of 0.65. The firm’s 50-day moving average is $21.65 and its two-hundred day moving average is $20.88. RCM Technologies, Inc. has a 12 month low of $17.11 and a 12 month high of $29.80.

RCM Technologies (NASDAQ:RCMT) last released its earnings results on Thursday, November 7th. The business services provider reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.02). RCM Technologies had a net margin of 5.77% and a return on equity of 58.70%. The firm had revenue of $60.37 million during the quarter, compared to analyst estimates of $60.59 million. During the same period in the prior year, the firm earned $0.46 earnings per share. On average, sell-side analysts anticipate that RCM Technologies, Inc. will post 2.07 earnings per share for the current year.

Insider Activity at RCM Technologies

In related news, insider Michael Saks sold 5,000 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $23.22, for a total transaction of $116,100.00. Following the completion of the sale, the insider now owns 119,158 shares in the company, valued at $2,766,848.76. This represents a 4.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 26.40% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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