BNP Paribas Financial Markets Invests $48,000 in RCM Technologies, Inc. (NASDAQ:RCMT)

BNP Paribas Financial Markets bought a new stake in shares of RCM Technologies, Inc. (NASDAQ:RCMT) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 2,353 shares of the business services provider’s stock, valued at approximately $48,000.

Several other institutional investors have also bought and sold shares of RCMT. Marshall Wace LLP lifted its stake in RCM Technologies by 174.0% during the 2nd quarter. Marshall Wace LLP now owns 38,392 shares of the business services provider’s stock valued at $719,000 after acquiring an additional 24,380 shares in the last quarter. Panagora Asset Management Inc. purchased a new stake in shares of RCM Technologies in the second quarter valued at about $458,000. Exchange Traded Concepts LLC bought a new position in shares of RCM Technologies during the third quarter valued at about $315,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in RCM Technologies during the third quarter worth about $425,000. Finally, Klein Pavlis & Peasley Financial Inc. grew its position in RCM Technologies by 19.9% in the 2nd quarter. Klein Pavlis & Peasley Financial Inc. now owns 13,208 shares of the business services provider’s stock worth $247,000 after purchasing an additional 2,191 shares in the last quarter. Institutional investors own 43.20% of the company’s stock.

Insider Activity

In other RCM Technologies news, insider Michael Saks sold 2,852 shares of the business’s stock in a transaction on Wednesday, December 4th. The stock was sold at an average price of $23.99, for a total value of $68,419.48. Following the sale, the insider now directly owns 114,158 shares in the company, valued at $2,738,650.42. The trade was a 2.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 26.40% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. B. Riley lifted 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. StockNews.com downgraded RCM Technologies from a “buy” rating to a “hold” rating in a research report on Monday, November 11th. Finally, Benchmark boosted their price objective on RCM Technologies from $33.00 to $37.00 and gave the stock a “buy” rating in a research report on Monday, November 11th.

RCM Technologies Stock Performance

NASDAQ RCMT opened at $21.68 on Friday. The company has a market capitalization of $164.70 million, a PE ratio of 11.12 and a beta of 0.64. 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, Inc. has a 52-week low of $17.11 and a 52-week high of $32.15. The company has a 50-day simple moving average of $22.54 and a 200 day simple moving average of $20.50.

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.