RCM Technologies, Inc. $RCMT Shares Newly Acquired by Inspire Investing LLC

Key Points

• Inspire Investing LLC acquired 61,146 shares of RCM Technologies in the third quarter, worth approximately $2.49 million and representing 0.86% of the company. Institutional investors collectively own 43.20% of RCMT.
• Analyst sentiment is generally positive, with a consensus “Moderate Buy” rating and an average price target of $45.00; three analysts rate the stock Buy and one rates it Hold.
• RCM Technologies exceeded quarterly expectations, reporting $0.82 in EPS versus a $0.62 estimate and $93.82 million in revenue versus an $81.75 million forecast. However, company insiders sold a combined 219,997 shares worth about $8.24 million over the past three months.

Inspire Investing LLC bought a new stake in RCM Technologies, Inc. (NASDAQ:RCMT - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 61,146 shares of the business services provider's stock, valued at approximately $2,487,000. Inspire Investing LLC owned 0.86% of RCM Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Integrated Wealth Concepts LLC acquired a new stake in RCM Technologies during the 2nd quarter worth $237,000. Squarepoint Ops LLC raised its position in shares of RCM Technologies by 20.8% in the 2nd quarter. Squarepoint Ops LLC now owns 22,407 shares of the business services provider's stock valued at $633,000 after buying an additional 3,853 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of RCM Technologies during the second quarter worth $551,000. WNY Asset Management LLC bought a new stake in shares of RCM Technologies in the first quarter worth $383,000. Finally, Punch & Associates Investment Management Inc. boosted its stake in shares of RCM Technologies by 12.8% in the 1st quarter. Punch & Associates Investment Management Inc. now owns 153,511 shares of the business services provider's stock valued at $2,938,000 after purchasing an additional 17,433 shares during the last quarter. 43.20% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on RCMT. Benchmark boosted their target price on RCM Technologies from $36.00 to $45.00 and gave the stock a "buy" rating in a research report on Monday, August 17th. B. Riley Financial raised their price target on RCM Technologies from $40.00 to $45.00 and gave the company a "buy" rating in a report on Monday, August 17th. Weiss Ratings upgraded shares of RCM Technologies from a "hold (c+)" rating to a "buy (b)" rating in a research report on Thursday, October 8th. Zacks Research cut RCM Technologies from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, October 13th. Finally, Wall Street Zen upgraded RCM Technologies from a "hold" rating to a "strong-buy" rating in a research report on Sunday, August 16th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $45.00.

RCM Technologies Stock Performance

Shares of NASDAQ:RCMT opened at $37.02 on Monday. The stock has a market capitalization of $263.21 million, a P/E ratio of 16.10 and a beta of 0.40. RCM Technologies, Inc. has a 52 week low of $17.26 and a 52 week high of $43.68. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.48. The firm has a fifty day simple moving average of $40.35 and a two-hundred day simple moving average of $31.97.

RCM Technologies (NASDAQ:RCMT - Get Free Report) last released its quarterly earnings results on Thursday, August 13th. The business services provider reported $0.82 EPS for the quarter, topping analysts' consensus estimates of $0.62 by $0.20. The firm had revenue of $93.82 million during the quarter, compared to analysts' expectations of $81.75 million. RCM Technologies had a net margin of 5.13% and a return on equity of 37.92%. On average, analysts expect that RCM Technologies, Inc. will post 2.24 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Bradley Vizi sold 74,719 shares of the business's stock in a transaction that occurred on Monday, August 17th. The shares were sold at an average price of $38.86, for a total value of $2,903,580.34. Following the completion of the transaction, the chairman owned 1,402,477 shares of the company's stock, valued at $54,500,256.22. The trade was a 5.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO Kevin D. Miller sold 1,753 shares of RCM Technologies stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $42.05, for a total value of $73,713.65. Following the completion of the transaction, the chief financial officer owned 330,863 shares in the company, valued at $13,912,789.15. This represents a 0.53% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 219,997 shares of company stock valued at $8,238,837 over the last three months. 28.00% of the stock is owned by company insiders.

About RCM Technologies

RCM Technologies, Inc NASDAQ: RCMT is a provider of business and technology solutions for commercial and government organizations. The company delivers consulting, staffing, project management and implementation services designed to support clients' operational, technical and workforce needs.

RCM Technologies operates through service areas that include engineering, life sciences and information technology. Its engineering business supports infrastructure, utilities, transportation, aerospace and defense, and other industrial and public-sector projects.

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