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

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

Several other hedge funds and other institutional investors have also made changes to their positions in RCMT. Barclays PLC increased its stake in RCM Technologies by 17.1% in the fourth quarter. Barclays PLC now owns 10,405 shares of the business services provider's stock worth $231,000 after purchasing an additional 1,517 shares during the period. Schonfeld Strategic Advisors LLC purchased a new position in RCM Technologies in the 4th quarter worth about $258,000. OMERS ADMINISTRATION Corp bought a new stake in RCM Technologies during the 4th quarter valued at about $259,000. 683 Capital Management LLC purchased a new stake in RCM Technologies in the 4th quarter valued at about $337,000. Finally, Connective Capital Management LLC bought a new position in RCM Technologies in the 4th quarter worth about $349,000. Hedge funds and other institutional investors own 43.20% of the company's stock.

Analyst Ratings Changes

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

RCM Technologies Stock Up 3.0%

RCM Technologies stock traded up $0.67 during mid-day trading on Friday, reaching $23.35. 26,448 shares of the company were exchanged, compared to its average volume of 41,281. 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 P/E ratio of 11.97 and a beta of 0.15. The business has a fifty day moving average of $19.04 and a 200 day moving average of $19.73. RCM Technologies, Inc. has a 12-month low of $13.18 and a 12-month high of $26.37.

RCM Technologies (NASDAQ:RCMT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 14th. The business services provider reported $0.54 earnings per share 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.

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.