Sanctuary Advisors LLC Buys Shares of 12,330 RCM Technologies, Inc. (NASDAQ:RCMT)

Sanctuary Advisors LLC purchased a new position in RCM Technologies, Inc. (NASDAQ:RCMT) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 12,330 shares of the business services provider’s stock, valued at approximately $265,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Marshall Wace LLP lifted its holdings in RCM Technologies by 174.0% in the second quarter. Marshall Wace LLP now owns 38,392 shares of the business services provider’s stock worth $719,000 after acquiring an additional 24,380 shares during the last quarter. Truvestments Capital LLC lifted its holdings in shares of RCM Technologies by 2.2% in the 3rd quarter. Truvestments Capital LLC now owns 35,148 shares of the business services provider’s stock worth $713,000 after purchasing an additional 772 shares during the last quarter. State Street Corp boosted its position in RCM Technologies by 6.7% during the 3rd quarter. State Street Corp now owns 25,555 shares of the business services provider’s stock valued at $518,000 after purchasing an additional 1,600 shares during the period. Panagora Asset Management Inc. bought a new position in RCM Technologies during the 2nd quarter worth $458,000. Finally, Connor Clark & Lunn Investment Management Ltd. acquired a new stake in RCM Technologies in the third quarter worth $425,000. 43.20% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Michael Saks sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $23.22, for a total transaction of $116,100.00. Following the transaction, the insider now owns 119,158 shares in the company, valued at $2,766,848.76. This trade represents a 4.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 26.40% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on RCMT. StockNews.com downgraded shares of RCM Technologies from a “buy” rating to a “hold” rating in a report on Monday, November 11th. B. Riley upped their target price on shares of RCM Technologies from $35.00 to $37.00 and gave the stock a “buy” rating in a research report on Monday, November 11th. Finally, Benchmark raised their price target on shares of RCM Technologies from $33.00 to $37.00 and gave the company a “buy” rating in a research note on Monday, November 11th.

RCM Technologies Trading Up 0.9 %

Shares of RCMT stock opened at $23.17 on Friday. RCM Technologies, Inc. has a 1 year low of $17.11 and a 1 year high of $32.15. The firm has a market capitalization of $176.02 million, a PE ratio of 11.88 and a beta of 0.64. The stock has a fifty day moving average of $22.66 and a two-hundred day moving average of $20.62. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.63 and a current ratio of 1.63.

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.