Millennium Management LLC Lowers Holdings in RCM Technologies, Inc. (NASDAQ:RCMT)

Millennium Management LLC lowered its position in RCM Technologies, Inc. (NASDAQ:RCMT - Free Report) by 35.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 35,789 shares of the business services provider's stock after selling 19,251 shares during the quarter. Millennium Management LLC owned about 0.47% of RCM Technologies worth $793,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Truvestments Capital LLC increased its stake in RCM Technologies by 31.2% in the fourth quarter. Truvestments Capital LLC now owns 46,125 shares of the business services provider's stock valued at $1,022,000 after acquiring an additional 10,977 shares during the last quarter. Pacific Ridge Capital Partners LLC bought a new position in shares of RCM Technologies during the 4th quarter valued at $2,668,000. Russell Investments Group Ltd. purchased a new position in RCM Technologies in the 4th quarter worth $840,000. Barclays PLC lifted its stake in shares of RCM Technologies by 17.1% in the 4th quarter. Barclays PLC now owns 10,405 shares of the business services provider's stock valued at $231,000 after acquiring an additional 1,517 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC bought a new stake in RCM Technologies in the fourth quarter valued at approximately $258,000. Hedge funds and other institutional investors own 43.20% of the company's stock.

Analyst Upgrades and Downgrades

RCMT has been the subject of several research analyst reports. Wall Street Zen upgraded RCM Technologies from a "buy" rating to a "strong-buy" rating in a report on Friday, May 9th. B. Riley upgraded RCM Technologies to a "strong-buy" rating in a research report on Tuesday, March 18th. Finally, Benchmark reduced their price target on RCM Technologies from $37.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, March 21st.

RCM Technologies Price Performance

NASDAQ RCMT traded up $0.67 on Friday, reaching $23.35. The company had a trading volume of 26,448 shares, compared to its average volume of 41,347. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $172.88 million, a PE ratio of 11.97 and a beta of 0.28. RCM Technologies, Inc. has a 12 month low of $13.18 and a 12 month high of $26.37. The firm's 50 day moving average price is $19.18 and its 200 day moving average price is $19.74.

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

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.