Insider Selling: RCM Technologies (NASDAQ:RCMT) Chairman Sells 8,237 Shares of Stock

Key Points

• Chairman Bradley Vizi sold 8,237 shares on April 8 at an average price of $27.52 under a pre-arranged Rule 10b5-1 plan, trimming his position by 0.55% to 1,489,240 shares (valued at about $40.98M); he also sold 13,666 shares on April 7 at ~$27.55.
• RCM shares traded up 0.1% to $27.90 on above-average volume and are trading near their 52-week high of $28.51, with a market cap of about $206.7M and a P/E of 16.3.
• Benchmark upgraded the stock and raised its price target to $36 (buy), but the consensus remains a Hold with a $36 target, while institutional investors own roughly 43.2% of the company.

RCM Technologies, Inc. (NASDAQ:RCMT - Get Free Report) Chairman Bradley Vizi sold 8,237 shares of the stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $27.52, for a total transaction of $226,682.24. Following the transaction, the chairman directly owned 1,489,240 shares of the company's stock, valued at $40,983,884.80. The trade was a 0.55% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Tuesday, April 7th, Bradley Vizi sold 13,666 shares of RCM Technologies stock. The stock was sold at an average price of $27.55, for a total transaction of $376,498.30.

RCM Technologies Trading Up 0.1%

Shares of NASDAQ:RCMT traded up $0.03 during mid-day trading on Thursday, reaching $27.90. 69,923 shares of the company were exchanged, compared to its average volume of 52,535. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.98 and a quick ratio of 1.98. The firm has a market cap of $206.74 million, a price-to-earnings ratio of 16.32 and a beta of -0.01. The firm's 50-day simple moving average is $19.60 and its 200 day simple moving average is $20.87. RCM Technologies, Inc. has a 1 year low of $15.29 and a 1 year high of $28.51.

Hedge Funds Weigh In On RCM Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RCMT. BNP Paribas Financial Markets boosted its position in RCM Technologies by 44.1% in the 2nd quarter. BNP Paribas Financial Markets now owns 1,892 shares of the business services provider's stock valued at $45,000 after buying an additional 579 shares during the period. JPMorgan Chase & Co. boosted its position in RCM Technologies by 1,241.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,320 shares of the business services provider's stock valued at $55,000 after buying an additional 2,147 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in RCM Technologies in the 3rd quarter valued at approximately $60,000. Lazard Asset Management LLC purchased a new position in RCM Technologies in the 2nd quarter valued at approximately $77,000. Finally, New York State Common Retirement Fund purchased a new position in RCM Technologies in the 2nd quarter valued at approximately $101,000. Hedge funds and other institutional investors own 43.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on RCMT shares. Benchmark increased their price objective on shares of RCM Technologies from $32.00 to $36.00 and gave the stock a "buy" rating in a research report on Wednesday. Zacks Research raised shares of RCM Technologies from a "strong sell" rating to a "hold" rating in a research report on Monday, January 5th. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of RCM Technologies in a research report on Friday, March 27th. One research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, RCM Technologies presently has a consensus rating of "Hold" and a consensus price target of $36.00.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.