Squarepoint Ops LLC Cuts Position in RCM Technologies, Inc. (NASDAQ:RCMT)

Squarepoint Ops LLC reduced its holdings in RCM Technologies, Inc. (NASDAQ:RCMT) by 18.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,134 shares of the business services provider’s stock after selling 3,524 shares during the period. Squarepoint Ops LLC’s holdings in RCM Technologies were worth $283,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Acadian Asset Management LLC grew its stake in RCM Technologies by 466.4% in the 1st quarter. Acadian Asset Management LLC now owns 59,930 shares of the business services provider’s stock valued at $1,279,000 after acquiring an additional 49,350 shares during the period. Panagora Asset Management Inc. acquired a new stake in shares of RCM Technologies in the second quarter valued at about $458,000. Marshall Wace LLP increased its stake in shares of RCM Technologies by 174.0% during the second quarter. Marshall Wace LLP now owns 38,392 shares of the business services provider’s stock worth $719,000 after purchasing an additional 24,380 shares in the last quarter. Truvestments Capital LLC raised its position in shares of RCM Technologies by 79.3% during the 1st quarter. Truvestments Capital LLC now owns 28,906 shares of the business services provider’s stock worth $618,000 after purchasing an additional 12,788 shares during the last quarter. Finally, Quadrature Capital Ltd purchased a new position in RCM Technologies in the 4th quarter valued at about $252,000. 43.20% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Benchmark reiterated a “buy” rating and set a $33.00 price objective on shares of RCM Technologies in a research note on Tuesday, August 13th.

RCM Technologies Trading Up 0.4 %

Shares of RCMT stock opened at $20.89 on Friday. RCM Technologies, Inc. has a fifty-two week low of $17.11 and a fifty-two week high of $32.15. The company has a debt-to-equity ratio of 0.84, a quick ratio of 1.48 and a current ratio of 1.48. The stock’s fifty day moving average is $19.68 and its two-hundred day moving average is $19.71. The firm has a market capitalization of $159.39 million, a P/E ratio of 10.14 and a beta of 0.64.

RCM Technologies (NASDAQ:RCMT) last posted its quarterly earnings results on Wednesday, August 7th. The business services provider reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.50 by ($0.03). The business had revenue of $69.16 million during the quarter, compared to analysts’ expectations of $69.90 million. RCM Technologies had a return on equity of 67.39% and a net margin of 6.19%. During the same period in the prior year, the business posted $0.47 earnings per share. Research analysts expect that RCM Technologies, Inc. will post 2.06 earnings per share for the current fiscal year.

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.