Truvestments Capital LLC Sells 26,704 Shares of RCM Technologies, Inc. $RCMT

Key Points

• Truvestments Capital LLC has decreased its stake in RCM Technologies, Inc. by 57.9%, now holding 19,421 shares valued at $303,000 after selling 26,704 shares in the first quarter.
• RCM Technologies has received a rating upgrade from Wall Street Zen, moving from a "buy" to a "strong-buy" rating, with an average price target of $33.50.
• Institutional investors collectively own 43.20% of RCM Technologies' stock, indicating significant interest from the investment community.

Truvestments Capital LLC lessened its holdings in shares of RCM Technologies, Inc. (NASDAQ:RCMT - Free Report) by 57.9% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,421 shares of the business services provider's stock after selling 26,704 shares during the period. Truvestments Capital LLC owned 0.26% of RCM Technologies worth $303,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Significant Wealth Partners LLC bought a new stake in shares of RCM Technologies during the 1st quarter valued at about $160,000. Barclays PLC boosted its stake in RCM Technologies by 17.1% during the 4th quarter. Barclays PLC now owns 10,405 shares of the business services provider's stock valued at $231,000 after purchasing an additional 1,517 shares during the period. Exchange Traded Concepts LLC acquired a new position in RCM Technologies during the 1st quarter valued at about $258,000. Schonfeld Strategic Advisors LLC acquired a new position in RCM Technologies during the 4th quarter valued at about $258,000. Finally, OMERS ADMINISTRATION Corp acquired a new position in RCM Technologies during the 4th quarter valued at about $259,000. Institutional investors own 43.20% of the company's stock.

RCM Technologies Price Performance

Shares of NASDAQ:RCMT traded down $0.28 during trading on Tuesday, reaching $26.85. The company had a trading volume of 10,169 shares, compared to its average volume of 51,407. The firm's fifty day moving average is $24.92 and its 200 day moving average is $21.06. The firm has a market capitalization of $198.96 million, a PE ratio of 15.26 and a beta of 0.27. RCM Technologies, Inc. has a twelve month low of $13.18 and a twelve month high of $28.27. The company has a debt-to-equity ratio of 0.92, a quick ratio of 1.85 and a current ratio of 1.85.

Analysts Set New Price Targets

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

Insider Buying and Selling

In other news, insider Michael Saks sold 5,000 shares of the company's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $27.50, for a total value of $137,500.00. Following the completion of the sale, the insider directly owned 109,547 shares of the company's stock, valued at approximately $3,012,542.50. This represents a 4.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Bradley Vizi sold 7,289 shares of the business's stock in a transaction that occurred on 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 sale, the chairman owned 1,531,951 shares in the company, valued at $42,143,972.01. The trade was a 0.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 26.40% of the company's stock.

RCM Technologies Company 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.