Ballast Asset Management LP Trims Position in RCM Technologies, Inc. (NASDAQ:RCMT)

Ballast Asset Management LP reduced its position in RCM Technologies, Inc. (NASDAQ:RCMT) by 2.4% in the 4th quarter, Holdings Channel reports. The fund owned 135,146 shares of the business services provider’s stock after selling 3,293 shares during the period. RCM Technologies makes up about 1.5% of Ballast Asset Management LP’s investment portfolio, making the stock its 29th biggest position. Ballast Asset Management LP’s holdings in RCM Technologies were worth $2,995,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Sanctuary Advisors LLC purchased a new stake in shares of RCM Technologies in the third quarter valued at $265,000. State Street Corp boosted its stake in RCM Technologies by 6.7% in the 3rd quarter. State Street Corp now owns 25,555 shares of the business services provider’s stock worth $518,000 after buying an additional 1,600 shares during the last quarter. BNP Paribas Financial Markets purchased a new stake in RCM Technologies in the 3rd quarter valued at about $48,000. JPMorgan Chase & Co. increased 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 valued at $234,000 after acquiring an additional 1,639 shares during the last quarter. Finally, Pacific Ridge Capital Partners LLC purchased a new position in shares of RCM Technologies during the 4th quarter worth about $2,668,000. 43.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on RCMT shares. B. Riley upgraded shares of RCM Technologies to a “strong-buy” rating in a report on Tuesday, March 18th. Benchmark dropped 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 Stock Down 1.6 %

Shares of NASDAQ:RCMT opened at $15.60 on Tuesday. The stock has a 50-day simple moving average of $18.31 and a 200-day simple moving average of $20.53. The stock has a market capitalization of $118.39 million, a P/E ratio of 8.00 and a beta of 0.58. RCM Technologies, Inc. has a 1 year low of $13.18 and a 1 year 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) last released 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 business had revenue of $76.91 million for the quarter, compared to analysts’ expectations of $79.00 million.

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.