RCM Technologies, Inc. (NASDAQ:RCMT) Shares Sold by Millennium Management LLC

Millennium Management LLC cut its holdings in shares of RCM Technologies, Inc. (NASDAQ:RCMT - Free Report) by 35.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 35,789 shares of the business services provider's stock after selling 19,251 shares during the period. Millennium Management LLC owned 0.47% of RCM Technologies worth $793,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of RCMT. Truvestments Capital LLC boosted its stake in RCM Technologies by 31.2% during the 4th 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 period. Pacific Ridge Capital Partners LLC purchased a new stake in shares of RCM Technologies in the fourth quarter valued at about $2,668,000. Russell Investments Group Ltd. acquired a new stake in shares of RCM Technologies during the fourth quarter worth about $840,000. Barclays PLC boosted its stake in shares of RCM Technologies by 17.1% during the fourth quarter. Barclays PLC now owns 10,405 shares of the business services provider's stock worth $231,000 after buying an additional 1,517 shares during the period. Finally, Schonfeld Strategic Advisors LLC purchased a new position in shares of RCM Technologies during the fourth quarter worth about $258,000. 43.20% of the stock is owned by institutional investors and hedge funds.

RCM Technologies Stock Performance

Shares of NASDAQ:RCMT traded down $0.26 during midday trading on Tuesday, hitting $22.88. The stock had a trading volume of 18,202 shares, compared to its average volume of 41,235. RCM Technologies, Inc. has a 1 year low of $13.18 and a 1 year high of $26.37. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.06. The stock has a 50 day moving average price of $19.45 and a two-hundred day moving average price of $19.75. The company has a market capitalization of $169.40 million, a PE ratio of 11.73 and a beta of 0.28.

RCM Technologies (NASDAQ:RCMT - Get Free Report) last announced 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 net margin of 5.77% and a return on equity of 58.70%. The business had revenue of $84.47 million during the quarter, compared to analysts' expectations of $76.04 million.

Analyst Ratings Changes

Several analysts have commented on RCMT shares. Benchmark reduced their price objective on 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 raised RCM Technologies from a "buy" rating to a "strong-buy" rating in a report on Friday, May 9th. Finally, B. Riley upgraded RCM Technologies to a "strong-buy" rating in a research note 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.