Insider Selling: RCM Technologies (NASDAQ:RCMT) Chairman Sells 74,719 Shares

Key Points

• RCM Technologies Chairman Bradley Vizi sold 74,719 shares at an average price of $38.86, generating approximately $2.90 million. The transaction reduced his direct stake by 5.06% to 1.40 million shares.
• RCM Technologies reported quarterly earnings of $0.82 per share, beating estimates of $0.62, while revenue of $93.82 million exceeded the $81.75 million consensus forecast.
• Shares rose 1.5% to $41.05, and analysts maintained a generally positive outlook: the stock has a “Moderate Buy” consensus rating and a $45 average price target.

RCM Technologies, Inc. (NASDAQ:RCMT - Get Free Report) Chairman Bradley Vizi sold 74,719 shares of the firm's stock in a transaction on Monday, August 17th. The stock was sold at an average price of $38.86, for a total value of $2,903,580.34. Following the sale, the chairman directly owned 1,402,477 shares in the company, valued at $54,500,256.22. The trade was a 5.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Bradley Vizi also recently made the following trade(s):

• On Friday, August 14th, Bradley Vizi sold 25,281 shares of RCM Technologies stock. The shares were sold at an average price of $35.02, for a total value of $885,340.62.

RCM Technologies Trading Up 1.5%

Shares of RCM Technologies stock traded up $0.62 during trading hours on Tuesday, hitting $41.05. The company's stock had a trading volume of 181,742 shares, compared to its average volume of 63,970. RCM Technologies, Inc. has a 12 month low of $17.26 and a 12 month high of $42.04. The stock has a 50 day moving average of $28.07 and a 200 day moving average of $24.70. The company has a market capitalization of $291.04 million, a PE ratio of 17.85 and a beta of 0.29. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.92 and a quick ratio of 1.92.

RCM Technologies (NASDAQ:RCMT - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The business services provider reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.20. RCM Technologies had a return on equity of 37.92% and a net margin of 5.13%.The business had revenue of $93.82 million for the quarter, compared to analysts' expectations of $81.75 million. Analysts predict that RCM Technologies, Inc. will post 2.23 earnings per share for the current year.

Wall Street Analysts Forecast Growth

RCMT has been the subject of several research analyst reports. Weiss Ratings reiterated a "hold (c+)" rating on shares of RCM Technologies in a report on Friday, July 17th. B. Riley Financial boosted their price objective on shares of RCM Technologies from $40.00 to $45.00 and gave the company a "buy" rating in a research report on Monday. Benchmark upped their target price on shares of RCM Technologies from $36.00 to $45.00 and gave the stock a "buy" rating in a research note on Monday. Zacks Research cut RCM Technologies from a "strong-buy" rating to a "hold" rating in a report on Friday, June 5th. Finally, Wall Street Zen upgraded RCM Technologies from a "hold" rating to a "strong-buy" rating in a report on Sunday. Two analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $45.00.

Institutional Trading of RCM Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in RCMT. Bank of New York Mellon Corp acquired a new position in RCM Technologies during the second quarter worth $551,000. WNY Asset Management LLC acquired a new stake in RCM Technologies in the 1st quarter valued at $383,000. Punch & Associates Investment Management Inc. lifted its position in RCM Technologies by 12.8% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 153,511 shares of the business services provider's stock worth $2,938,000 after buying an additional 17,433 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of RCM Technologies by 3.6% during the 1st quarter. Renaissance Technologies LLC now owns 434,877 shares of the business services provider's stock worth $8,324,000 after buying an additional 15,304 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in shares of RCM Technologies by 209.9% during the 1st quarter. Sei Investments Co. now owns 126,872 shares of the business services provider's stock worth $2,428,000 after buying an additional 85,936 shares during the last quarter. 43.20% of the stock is currently owned by institutional investors and hedge funds.

About RCM Technologies

RCM Technologies, Inc NASDAQ: RCMT is an information technology consulting firm that specializes in delivering secure, enterprise-level technology solutions. The company's core offerings include IT infrastructure design and integration, data center modernization, cloud migration and management, cybersecurity services, and digital collaboration platforms. RCM Technologies serves clients across federal and commercial markets, tailoring its services to meet the strict security and compliance requirements of government agencies as well as the performance and scalability needs of private-sector organizations.

Founded in the mid-1980s and headquartered in Dresher, Pennsylvania, RCM Technologies has built a reputation for end-to-end project delivery, from initial assessment and design through implementation and ongoing managed support.

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