Pacific Ridge Capital Partners LLC Raises Stake in RCM Technologies, Inc. (NASDAQ:RCMT)

Key Points

• Pacific Ridge Capital Partners LLC has increased its stake in RCM Technologies, Inc. by 30.4%, acquiring an additional 36,608 shares, bringing its total to 156,994 shares.
• RCM Technologies reported $0.54 earnings per share for the recent quarter, which was below the consensus estimate of $0.58, despite having higher revenues than expected.
• Analyst firm Wall Street Zen upgraded RCM Technologies from a "buy" rating to a "strong-buy" rating on May 9th.

Pacific Ridge Capital Partners LLC increased its position in shares of RCM Technologies, Inc. (NASDAQ:RCMT - Free Report) by 30.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 156,994 shares of the business services provider's stock after buying an additional 36,608 shares during the period. Pacific Ridge Capital Partners LLC owned about 2.12% of RCM Technologies worth $2,449,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Russell Investments Group Ltd. purchased a new position in RCM Technologies in the fourth quarter valued at about $840,000. Barclays PLC lifted its holdings 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 purchasing an additional 1,517 shares during the period. Schonfeld Strategic Advisors LLC acquired a new position in RCM Technologies in the fourth quarter valued at approximately $258,000. Jane Street Group LLC acquired a new position in RCM Technologies in the fourth quarter valued at approximately $369,000. Finally, 683 Capital Management LLC acquired a new position in RCM Technologies in the fourth quarter valued at approximately $337,000. Hedge funds and other institutional investors own 43.20% of the company's stock.

RCM Technologies Price Performance

NASDAQ RCMT traded up $0.33 during mid-day trading on Wednesday, hitting $23.89. The stock had a trading volume of 18,691 shares, compared to its average volume of 49,855. The firm's 50 day moving average is $24.08 and its 200 day moving average is $20.36. RCM Technologies, Inc. has a twelve month low of $13.18 and a twelve month high of $27.24. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.62 and a quick ratio of 1.62. The stock has a market capitalization of $176.79 million, a price-to-earnings ratio of 13.81 and a beta of 0.24.

RCM Technologies (NASDAQ:RCMT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 14th. The business services provider reported $0.54 EPS for the quarter, missing the consensus estimate of $0.58 by ($0.04). RCM Technologies had a net margin of 4.66% and a return on equity of 42.85%. The firm had revenue of $84.47 million during the quarter, compared to analyst estimates of $76.04 million.

Analyst Ratings Changes

Separately, Wall Street Zen raised RCM Technologies from a "buy" rating to a "strong-buy" rating in a research note on Friday, May 9th.

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.