Insider Selling: RCM Technologies (NASDAQ:RCMT) Insider Sells 706 Shares

RCM Technologies, Inc. (NASDAQ:RCMT) insider Michael Saks sold 706 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $41.12, for a total value of $29,030.72. Following the sale, the insider directly owned 88,601 shares in the company, valued at $3,643,273.12. This represents a 0.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Michael Saks also recently made the following trade(s):

• On Tuesday, August 18th, Michael Saks sold 10,000 shares of RCM Technologies stock. The shares were sold at an average price of $41.07, for a total value of $410,700.00.
• On Friday, August 14th, Michael Saks sold 11,792 shares of RCM Technologies stock. The shares were sold at an average price of $33.56, for a total value of $395,739.52.

RCM Technologies Stock Performance

Shares of RCMT traded up $0.94 during mid-day trading on Tuesday, reaching $42.06. The company had a trading volume of 58,477 shares, compared to its average volume of 64,228. The stock has a market capitalization of $299.05 million, a P/E ratio of 18.29 and a beta of 0.29. RCM Technologies, Inc. has a 52-week low of $17.26 and a 52-week high of $42.07. The stock has a 50 day moving average of $29.64 and a two-hundred day moving average of $25.42. The company has a quick ratio of 1.92, a current ratio of 1.92 and a debt-to-equity ratio of 0.48.

RCM Technologies (NASDAQ:RCMT) last announced its quarterly earnings results 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 company had revenue of $93.82 million during the quarter, compared to analysts’ expectations of $81.75 million. On average, analysts expect that RCM Technologies, Inc. will post 2.23 earnings per share for the current year.

Hedge Funds Weigh In On RCM Technologies

Hedge funds have recently bought and sold shares of the business. Jane Street Group LLC grew its holdings in RCM Technologies by 41.2% in the first quarter. Jane Street Group LLC now owns 23,489 shares of the business services provider’s stock valued at $366,000 after purchasing an additional 6,852 shares during the period. Geode Capital Management LLC raised its stake in shares of RCM Technologies by 78.9% during the 2nd quarter. Geode Capital Management LLC now owns 120,382 shares of the business services provider’s stock worth $2,838,000 after buying an additional 53,094 shares during the period. JPMorgan Chase & Co. raised its stake in shares of RCM Technologies by 1,241.0% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,320 shares of the business services provider’s stock worth $55,000 after buying an additional 2,147 shares during the period. Russell Investments Group Ltd. lifted its position in shares of RCM Technologies by 264.4% during the 2nd quarter. Russell Investments Group Ltd. now owns 49,386 shares of the business services provider’s stock valued at $1,164,000 after buying an additional 35,835 shares in the last quarter. Finally, New York State Common Retirement Fund purchased a new position in shares of RCM Technologies during the 2nd quarter valued at approximately $101,000. Hedge funds and other institutional investors own 43.20% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on RCMT shares. Zacks Research lowered shares of RCM Technologies from a “strong-buy” rating to a “hold” rating in a report on Friday, June 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of RCM Technologies in a report on Friday, July 17th. Wall Street Zen upgraded shares of RCM Technologies from a “hold” rating to a “strong-buy” rating in a research report on Sunday, August 16th. Benchmark raised their price target on shares of RCM Technologies from $36.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, August 17th. Finally, B. Riley Financial lifted their price objective on shares of RCM Technologies from $40.00 to $45.00 and gave the company a “buy” rating in a report on Monday, August 17th. Two analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $45.00.

RCM Technologies Company Profile

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.