Renaissance Technologies LLC Sells 45,858 Shares of RCM Technologies, Inc. (NASDAQ:RCMT)

Renaissance Technologies LLC reduced its position in RCM Technologies, Inc. (NASDAQ:RCMT - Free Report) by 8.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 485,473 shares of the business services provider's stock after selling 45,858 shares during the period. Renaissance Technologies LLC owned 6.39% of RCM Technologies worth $10,758,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets purchased a new stake in shares of RCM Technologies during the 3rd quarter worth approximately $48,000. Barclays PLC purchased a new stake in RCM Technologies during the third quarter valued at $180,000. JPMorgan Chase & Co. lifted its position in RCM Technologies by 16.6% during the third quarter. JPMorgan Chase & Co. now owns 11,539 shares of the business services provider's stock valued at $234,000 after purchasing an additional 1,639 shares during the last quarter. Sanctuary Advisors LLC bought a new position in RCM Technologies during the third quarter valued at $265,000. Finally, Klein Pavlis & Peasley Financial Inc. grew its stake in shares of RCM Technologies by 60.5% in the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 20,881 shares of the business services provider's stock worth $463,000 after buying an additional 7,869 shares in the last quarter. 43.20% of the stock is owned by institutional investors.

Analyst Ratings Changes

RCMT has been the topic of several recent research reports. B. Riley upgraded shares of RCM Technologies to a "strong-buy" rating in a research report on Tuesday, March 18th. StockNews.com upgraded RCM Technologies from a "hold" rating to a "buy" rating in a research report on Tuesday, April 15th. Finally, Benchmark dropped their target price on RCM Technologies from $37.00 to $30.00 and set a "buy" rating for the company in a report on Friday, March 21st.

RCM Technologies Trading Down 0.9 %

Shares of RCM Technologies stock traded down $0.15 during trading on Tuesday, hitting $16.42. The stock had a trading volume of 28,991 shares, compared to its average volume of 45,146. The stock has a market cap of $124.61 million, a PE ratio of 8.42 and a beta of 0.21. RCM Technologies, Inc. has a 12 month low of $13.18 and a 12 month high of $26.37. The firm's fifty day simple moving average is $16.96 and its 200-day simple moving average is $20.01. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.63 and a quick ratio of 1.63.

RCM Technologies (NASDAQ:RCMT - Get Free Report) last announced its quarterly earnings data on Wednesday, March 12th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.74 by ($0.37). RCM Technologies had a return on equity of 58.70% and a net margin of 5.77%. The firm had revenue of $76.91 million during the quarter, compared to the consensus estimate of $79.00 million.

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.