RCM Technologies, Inc. (NASDAQ:RCMT) Shares Sold by Ballast Asset Management LP

Ballast Asset Management LP reduced its position in shares of RCM Technologies, Inc. (NASDAQ:RCMT) by 2.4% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 135,146 shares of the business services provider’s stock after selling 3,293 shares during the period. RCM Technologies makes up approximately 1.5% of Ballast Asset Management LP’s portfolio, making the stock its 29th largest position. Ballast Asset Management LP owned about 1.78% of RCM Technologies worth $2,995,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in RCM Technologies by 6.7% during the third 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. grew its stake 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 purchasing an additional 1,639 shares during the period. BNP Paribas Financial Markets purchased a new position in shares of RCM Technologies in the 3rd quarter valued at about $48,000. Klein Pavlis & Peasley Financial Inc. lifted its stake in shares of RCM Technologies by 60.5% in the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 20,881 shares of the business services provider’s stock valued at $463,000 after purchasing an additional 7,869 shares during the period. Finally, Barclays PLC purchased a new stake in RCM Technologies during the third quarter worth about $180,000. Institutional investors and hedge funds own 43.20% of the company’s stock.

RCM Technologies Stock Performance

NASDAQ:RCMT opened at $15.60 on Tuesday. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $118.39 million, a P/E ratio of 8.00 and a beta of 0.58. The firm has a 50-day moving average price of $18.31 and a two-hundred day moving average price of $20.53. RCM Technologies, Inc. has a twelve month low of $13.18 and a twelve month high of $26.37.

RCM Technologies (NASDAQ:RCMT) last issued 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). The company had revenue of $76.91 million for the quarter, compared to analyst estimates of $79.00 million. RCM Technologies had a return on equity of 58.70% and a net margin of 5.77%.

Analyst Ratings Changes

RCMT has been the subject of a number of research analyst reports. B. Riley raised shares of RCM Technologies to a “strong-buy” rating in a report on Tuesday, March 18th. Benchmark reduced their price objective 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 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.