Ancora Advisors LLC Has $2.62 Million Stake in RCM Technologies, Inc. $RCMT

Key Points

• Ancora Advisors LLC increased its stake in RCM Technologies, acquiring an additional 70,628 shares, thereby raising its ownership by 72.4% to a total of 168,125 shares valued at approximately $2,623,000.
• RCM Technologies received a downgrade from a "strong-buy" to a "buy" rating by Wall Street Zen, though the stock still holds an average rating of "Strong Buy" with a consensus price target of $33.50.
• Insider selling activity included Michael Saks and Chairman Bradley Vizi, who sold shares valued at approximately $137,500 and $200,520, respectively, reflecting a small decrease in their ownership stakes.

Ancora Advisors LLC increased its stake in RCM Technologies, Inc. (NASDAQ:RCMT - Free Report) by 72.4% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 168,125 shares of the business services provider's stock after purchasing an additional 70,628 shares during the quarter. Ancora Advisors LLC owned about 2.27% of RCM Technologies worth $2,623,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of RCMT. Pacific Ridge Capital Partners LLC lifted its holdings in RCM Technologies by 30.4% in the first quarter. Pacific Ridge Capital Partners LLC now owns 156,994 shares of the business services provider's stock worth $2,449,000 after purchasing an additional 36,608 shares during the period. Mackenzie Financial Corp acquired a new stake in RCM Technologies in the 4th quarter valued at about $374,000. Jane Street Group LLC acquired a new stake in RCM Technologies in the 4th quarter valued at about $369,000. Exchange Traded Concepts LLC acquired a new stake in RCM Technologies in the 1st quarter valued at about $258,000. Finally, Connective Capital Management LLC acquired a new stake in RCM Technologies in the 4th quarter valued at about $349,000. Institutional investors and hedge funds own 43.20% of the company's stock.

RCM Technologies Trading Up 2.1%

RCMT stock traded up $0.56 during mid-day trading on Friday, reaching $27.41. 41,068 shares of the stock traded hands, compared to its average volume of 60,613. The company has a current ratio of 1.85, a quick ratio of 1.85 and a debt-to-equity ratio of 0.92. RCM Technologies, Inc. has a 52-week low of $13.18 and a 52-week high of $28.27. The company has a market cap of $203.11 million, a P/E ratio of 15.57 and a beta of 0.27. The stock's fifty day moving average is $25.23 and its 200-day moving average is $21.26.

Insider Transactions at RCM Technologies

In other RCM Technologies news, insider Michael Saks sold 5,000 shares of the company's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $27.50, for a total transaction of $137,500.00. Following the completion of the sale, the insider directly owned 109,547 shares of the company's stock, valued at approximately $3,012,542.50. This represents a 4.37% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Bradley Vizi sold 7,289 shares of the company's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $27.51, for a total transaction of $200,520.39. Following the sale, the chairman directly owned 1,531,951 shares of the company's stock, valued at $42,143,972.01. This represents a 0.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,962 shares of company stock valued at $356,528 over the last ninety days. Insiders own 26.40% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of RCM Technologies from a "strong-buy" rating to a "buy" rating in a report on Saturday, August 30th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Strong Buy" and an average price target of $33.50.

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.