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

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

A number of other large investors have also made changes to their positions in RCMT. State Street Corp lifted its holdings in shares of RCM Technologies by 6.7% during the 3rd quarter. State Street Corp now owns 25,555 shares of the business services provider's stock worth $518,000 after acquiring an additional 1,600 shares during the period. JPMorgan Chase & Co. lifted its position in shares of RCM Technologies by 16.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 11,539 shares of the business services provider's stock worth $234,000 after buying an additional 1,639 shares during the period. BNP Paribas Financial Markets bought a new position in shares of RCM Technologies during the 3rd quarter worth approximately $48,000. Klein Pavlis & Peasley Financial Inc. boosted its stake in 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 valued at $463,000 after buying an additional 7,869 shares in the last quarter. Finally, Barclays PLC bought a new stake in RCM Technologies in the third quarter valued at $180,000. Institutional investors and hedge funds own 43.20% of the company's stock.

Wall Street Analysts Forecast Growth

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

RCM Technologies Trading Down 0.7 %

RCMT traded down $0.12 during mid-day trading on Friday, reaching $16.06. The stock had a trading volume of 39,498 shares, compared to its average volume of 45,323. The firm's fifty day simple moving average is $17.11 and its two-hundred day simple moving average is $20.07. The stock has a market capitalization of $121.88 million, a P/E ratio of 8.24 and a beta of 0.21. RCM Technologies, Inc. has a 52 week low of $13.18 and a 52 week high of $26.37. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.63 and a current ratio of 1.63.

RCM Technologies (NASDAQ:RCMT - Get Free Report) last issued its earnings results 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). The business had revenue of $76.91 million during the quarter, compared to the consensus estimate of $79.00 million. RCM Technologies had a net margin of 5.77% and a return on equity of 58.70%.

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.