Punch & Associates Investment Management Inc. Invests $1.17 Million in RCM Technologies, Inc. $RCMT

Key Points

• Punch & Associates Investment Management Inc. has acquired a new position in RCM Technologies, Inc. worth approximately $1.17 million, acquiring 75,000 shares and holding about 1.01% of the company.
• Several hedge funds, including Significant Wealth Partners LLC and Barclays PLC, have recently made significant investments in RCM Technologies, increasing institutional ownership to 43.20%.
• Wall Street analysts have revised the stock rating from "strong-buy" to "buy," with the company holding an average target price of $33.50.

Punch & Associates Investment Management Inc. acquired a new position in RCM Technologies, Inc. (NASDAQ:RCMT - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 75,000 shares of the business services provider's stock, valued at approximately $1,170,000. Punch & Associates Investment Management Inc. owned approximately 1.01% of RCM Technologies at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Significant Wealth Partners LLC bought a new position in shares of RCM Technologies in the 1st quarter worth about $160,000. Barclays PLC increased its position in 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 buying an additional 1,517 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in RCM Technologies in the 1st quarter valued at about $258,000. Schonfeld Strategic Advisors LLC bought a new stake in RCM Technologies in the 4th quarter valued at about $258,000. Finally, OMERS ADMINISTRATION Corp bought a new stake in RCM Technologies in the 4th quarter valued at about $259,000. 43.20% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered RCM Technologies from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 30th. One investment analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Strong Buy" and a consensus target price of $33.50.

RCM Technologies Stock Performance

Shares of RCM Technologies stock opened at $27.41 on Friday. The firm has a market capitalization of $203.11 million, a price-to-earnings ratio of 15.57 and a beta of 0.27. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.85 and a quick ratio of 1.85. RCM Technologies, Inc. has a one year low of $13.18 and a one year high of $28.27. The business has a 50-day simple moving average of $25.23 and a 200 day simple moving average of $21.25.

Insider Transactions at RCM Technologies

In other RCM Technologies news, insider Michael Saks sold 5,000 shares of RCM Technologies stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $27.50, for a total transaction of $137,500.00. Following the completion of the transaction, the insider owned 109,547 shares in the company, valued at approximately $3,012,542.50. The trade was a 4.37% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Bradley Vizi sold 7,289 shares of RCM Technologies stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $27.51, for a total value of $200,520.39. Following the transaction, the chairman owned 1,531,951 shares of the company's stock, valued at $42,143,972.01. This trade represents a 0.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,962 shares of company stock valued at $356,528 in the last quarter. Company insiders own 26.40% of the company's stock.

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.

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