LSV Asset Management Decreases Position in RCM Technologies, Inc. (NASDAQ:RCMT)

LSV Asset Management decreased its position in shares of RCM Technologies, Inc. (NASDAQ:RCMT) by 26.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 49,700 shares of the business services provider’s stock after selling 17,600 shares during the period. LSV Asset Management’s holdings in RCM Technologies were worth $1,443,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the company. Kent Lake Capital LLC raised its stake in shares of RCM Technologies by 20.7% in the third quarter. Kent Lake Capital LLC now owns 123,369 shares of the business services provider’s stock worth $2,411,000 after purchasing an additional 21,158 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its stake in RCM Technologies by 18.6% during the 3rd quarter. O Shaughnessy Asset Management LLC now owns 63,831 shares of the business services provider’s stock valued at $1,247,000 after acquiring an additional 10,019 shares during the period. Ballast Asset Management LP purchased a new stake in shares of RCM Technologies during the 3rd quarter valued at about $1,056,000. Bank of New York Mellon Corp grew its stake in shares of RCM Technologies by 8.3% in the third quarter. Bank of New York Mellon Corp now owns 31,712 shares of the business services provider’s stock worth $620,000 after acquiring an additional 2,419 shares during the period. Finally, Janney Montgomery Scott LLC grew its stake in shares of RCM Technologies by 16.4% in the third quarter. Janney Montgomery Scott LLC now owns 26,058 shares of the business services provider’s stock worth $509,000 after acquiring an additional 3,667 shares during the period. 43.20% of the stock is currently owned by hedge funds and other institutional investors.

RCM Technologies Price Performance

Shares of NASDAQ:RCMT opened at $20.83 on Friday. The firm’s 50 day moving average price is $21.69 and its 200-day moving average price is $25.03. The company has a quick ratio of 1.56, a current ratio of 1.56 and a debt-to-equity ratio of 1.19. The stock has a market capitalization of $162.83 million, a PE ratio of 10.47 and a beta of 0.78. RCM Technologies, Inc. has a twelve month low of $11.99 and a twelve month high of $32.15.

RCM Technologies (NASDAQ:RCMT) last issued its quarterly earnings results on Wednesday, March 13th. The business services provider reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.08. The business had revenue of $71.03 million for the quarter, compared to analysts’ expectations of $72.47 million. RCM Technologies had a net margin of 6.39% and a return on equity of 71.41%. Equities research analysts expect that RCM Technologies, Inc. will post 2.12 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of RCM Technologies from a “hold” rating to a “buy” rating in a report on Friday, April 12th.

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.