Mackenzie Financial Corp Invests $374,000 in RCM Technologies, Inc. (NASDAQ:RCMT)

Mackenzie Financial Corp acquired a new position in shares of RCM Technologies, Inc. (NASDAQ:RCMT - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 16,869 shares of the business services provider's stock, valued at approximately $374,000. Mackenzie Financial Corp owned approximately 0.22% of RCM Technologies at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pacific Ridge Capital Partners LLC purchased a new position in shares of RCM Technologies in the 4th quarter valued at $2,668,000. Ancora Advisors LLC acquired a new position in RCM Technologies in the fourth quarter valued at $2,161,000. Two Sigma Investments LP boosted its stake in RCM Technologies by 10.0% in the fourth quarter. Two Sigma Investments LP now owns 58,228 shares of the business services provider's stock valued at $1,290,000 after acquiring an additional 5,304 shares in the last quarter. Truvestments Capital LLC grew its holdings in shares of RCM Technologies by 31.2% during the fourth quarter. Truvestments Capital LLC now owns 46,125 shares of the business services provider's stock worth $1,022,000 after purchasing an additional 10,977 shares during the last quarter. Finally, Russell Investments Group Ltd. acquired a new stake in shares of RCM Technologies during the fourth quarter worth about $840,000. Institutional investors and hedge funds own 43.20% of the company's stock.

RCM Technologies Stock Performance

NASDAQ RCMT traded up $0.67 during trading on Friday, reaching $23.35. The company's stock had a trading volume of 26,448 shares, compared to its average volume of 41,250. The business's fifty day moving average price is $19.18 and its 200-day moving average price is $19.72. RCM Technologies, Inc. has a twelve month low of $13.18 and a twelve month high of $26.37. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.63 and a current ratio of 1.63. The firm has a market cap of $172.88 million, a price-to-earnings ratio of 11.97 and a beta of 0.28.

RCM Technologies (NASDAQ:RCMT - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The business services provider reported $0.54 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.58 by ($0.04). RCM Technologies had a return on equity of 58.70% and a net margin of 5.77%. The company had revenue of $84.47 million for the quarter, compared to analysts' expectations of $76.04 million.

Analysts Set New Price Targets

A number of analysts recently issued reports on RCMT shares. Benchmark decreased their target price on RCM Technologies from $37.00 to $30.00 and set a "buy" rating for the company in a research report on Friday, March 21st. Wall Street Zen upgraded RCM Technologies from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 9th. Finally, B. Riley raised RCM Technologies to a "strong-buy" rating in a report on Tuesday, March 18th.

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.