Punch & Associates Investment Management Inc. Has $2.78 Million Stock Position in RCM Technologies, Inc. $RCMT

Punch & Associates Investment Management Inc. raised its stake in RCM Technologies, Inc. (NASDAQ:RCMT) by 40.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 136,078 shares of the business services provider’s stock after buying an additional 38,872 shares during the period. Punch & Associates Investment Management Inc. owned 1.84% of RCM Technologies worth $2,782,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. BNP Paribas Financial Markets boosted its position in RCM Technologies by 44.1% in the second quarter. BNP Paribas Financial Markets now owns 1,892 shares of the business services provider’s stock valued at $45,000 after buying an additional 579 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in RCM Technologies in the third quarter valued at approximately $60,000. JPMorgan Chase & Co. boosted its position in RCM Technologies by 1,241.0% in the second quarter. JPMorgan Chase & Co. now owns 2,320 shares of the business services provider’s stock valued at $55,000 after buying an additional 2,147 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in RCM Technologies in the second quarter valued at approximately $77,000. Finally, Bank of America Corp DE boosted its position in RCM Technologies by 28.1% in the third quarter. Bank of America Corp DE now owns 4,166 shares of the business services provider’s stock valued at $111,000 after buying an additional 915 shares in the last quarter. Institutional investors and hedge funds own 43.20% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Benchmark raised their target price on shares of RCM Technologies from $32.00 to $36.00 and gave the company a “buy” rating in a research report on Wednesday, April 8th. Wall Street Zen upgraded shares of RCM Technologies from a “hold” rating to a “buy” rating in a research report on Sunday. Weiss Ratings restated a “hold (c)” rating on shares of RCM Technologies in a research report on Friday, March 27th. Finally, Zacks Research downgraded shares of RCM Technologies from a “strong-buy” rating to a “hold” rating in a research note on Friday, June 5th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $36.00.

RCM Technologies Price Performance

RCMT stock opened at $26.03 on Wednesday. RCM Technologies, Inc. has a 52-week low of $17.26 and a 52-week high of $32.50. The company has a fifty day moving average price of $26.73 and a 200-day moving average price of $22.16. The company has a market capitalization of $184.50 million, a P/E ratio of 12.28 and a beta of 0.34. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.92 and a current ratio of 1.92.

RCM Technologies (NASDAQ:RCMT) last announced its earnings results on Friday, April 3rd. The business services provider reported $0.80 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.22. RCM Technologies had a net margin of 5.03% and a return on equity of 37.76%. The business had revenue of $86.48 million during the quarter, compared to the consensus estimate of $84.46 million. As a group, equities analysts expect that RCM Technologies, Inc. will post 2.23 EPS for the current year.

Insiders Place Their Bets

In related news, Chairman Bradley Vizi sold 13,666 shares of RCM Technologies stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $27.55, for a total transaction of $376,498.30. Following the completion of the transaction, the chairman owned 1,497,477 shares of the company’s stock, valued at $41,255,491.35. This trade represents a 0.90% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Kevin D. Miller sold 4,734 shares of RCM Technologies stock in a transaction on Monday, April 27th. The stock was sold at an average price of $32.00, for a total transaction of $151,488.00. Following the transaction, the chief financial officer directly owned 439,066 shares of the company’s stock, valued at $14,050,112. This represents a 1.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 36,437 shares of company stock valued at $1,068,434 in the last three months. 28.00% of the stock is owned by insiders.

RCM Technologies Company Profile

RCM Technologies, Inc (NASDAQ: RCMT) is an information technology consulting firm that specializes in delivering secure, enterprise-level technology solutions. The company’s core offerings include IT infrastructure design and integration, data center modernization, cloud migration and management, cybersecurity services, and digital collaboration platforms. RCM Technologies serves clients across federal and commercial markets, tailoring its services to meet the strict security and compliance requirements of government agencies as well as the performance and scalability needs of private-sector organizations.

Founded in the mid-1980s and headquartered in Dresher, Pennsylvania, RCM Technologies has built a reputation for end-to-end project delivery, from initial assessment and design through implementation and ongoing managed support.