Russell Investments Group Ltd. Sells 24,377 Shares of RCM Technologies, Inc. $RCMT

Key Points

• Russell Investments Group Ltd. reduced its stake in RCM Technologies by 64.3%, selling 24,377 shares, and now holds approximately 0.18% of the company's shares, valued at around $211,000.
• RCM Technologies has seen a mixed response from analysts, with ratings showing one "Strong Buy" and one "Buy," while the average target price stands at $33.50 despite a recent downgrade from "strong-buy" to "buy."
• Insider transactions revealed that Michael Saks and Chairman Bradley Vizi sold shares valued at a total of approximately $338,020, indicating a slight decrease in their respective positions.

Russell Investments Group Ltd. cut its holdings in RCM Technologies, Inc. (NASDAQ:RCMT - Free Report) by 64.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 13,551 shares of the business services provider's stock after selling 24,377 shares during the period. Russell Investments Group Ltd. owned about 0.18% of RCM Technologies worth $211,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the business. Pacific Ridge Capital Partners LLC increased its holdings in shares of RCM Technologies by 30.4% in the 1st quarter. Pacific Ridge Capital Partners LLC now owns 156,994 shares of the business services provider's stock worth $2,449,000 after buying an additional 36,608 shares during the last quarter. Significant Wealth Partners LLC bought a new position in RCM Technologies during the 1st quarter valued at about $160,000. Exchange Traded Concepts LLC bought a new position in RCM Technologies during the 1st quarter valued at about $258,000. Mackenzie Financial Corp bought a new position in RCM Technologies during the 4th quarter valued at about $374,000. Finally, Connective Capital Management LLC bought a new position in RCM Technologies during the 4th quarter valued at about $349,000. 43.20% of the stock is currently owned by institutional investors.

RCM Technologies Price Performance

Shares of RCMT stock opened at $26.88 on Wednesday. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.85 and a quick ratio of 1.85. The company has a market capitalization of $199.18 million, a P/E ratio of 15.27 and a beta of 0.27. The company's 50-day simple moving average is $25.00 and its two-hundred day simple moving average is $21.10. RCM Technologies, Inc. has a one year low of $13.18 and a one year high of $28.27.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded shares of RCM Technologies from a "strong-buy" rating to a "buy" rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Strong Buy" and an average target price of $33.50.

Insider Transactions at RCM Technologies

In other RCM Technologies news, insider Michael Saks sold 5,000 shares of the company's stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $27.50, for a total value of $137,500.00. Following the transaction, the insider directly owned 109,547 shares in the company, valued at $3,012,542.50. This represents a 4.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Bradley Vizi sold 7,289 shares of the company's stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $27.51, for a total transaction of $200,520.39. Following the completion of the transaction, the chairman owned 1,531,951 shares in the company, valued at $42,143,972.01. This represents a 0.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. 26.40% of the stock is owned by corporate insiders.

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.

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