Fintel reports that Renaissance Technologies has filed a 13G/A form with the SEC disclosing ownership of 0.65MM shares of RCM Technologies, Inc. (RCMT). This represents 6.56% of the company.
In their previous filing dated February 11, 2022 they reported 0.62MM shares and 5.94% of the company, an increase in shares of 3.78% and an increase in total ownership of 0.62% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 98.46% Upside
As of February 12, 2023, the average one-year price target for RCM Technologies is $27.03. The forecasts range from a low of $23.23 to a high of $31.50. The average price target represents an increase of 98.46% from its latest reported closing price of $13.62.
The projected annual revenue for RCM Technologies is $289MM, an increase of 3.36%. The projected annual EPS is $2.23, an increase of 9.25%.
What is the Fund Sentiment?
There are 105 funds or institutions reporting positions in RCM Technologies. This is an increase of 2 owner(s) or 1.94% in the last quarter. Average portfolio weight of all funds dedicated to RCMT is 0.11%, a decrease of 12.34%. Total shares owned by institutions decreased in the last three months by 5.30% to 4,259K shares. The put/call ratio of RCMT is 0.24, indicating a bullish outlook.
What are large shareholders doing?
WNY Asset Management holds 344K shares representing 3.49% ownership of the company. In it's prior filing, the firm reported owning 398K shares, representing a decrease of 15.73%. The firm decreased its portfolio allocation in RCMT by 52.40% over the last quarter.
DWAS - Invesco DWA SmallCap Momentum ETF holds 319K shares representing 3.24% ownership of the company.
Invesco holds 292K shares representing 2.96% ownership of the company.
Acadian Asset Management holds 284K shares representing 2.88% ownership of the company. In it's prior filing, the firm reported owning 242K shares, representing an increase of 14.63%. The firm increased its portfolio allocation in RCMT by 3.24% over the last quarter.
Hillsdale Investment Management holds 252K shares representing 2.56% ownership of the company. In it's prior filing, the firm reported owning 228K shares, representing an increase of 9.43%. The firm decreased its portfolio allocation in RCMT by 68.14% over the last quarter.
RCM Technologies Background Information
(This description is provided by the company.)
RCM Technologies, Inc. is a premier provider of business and technology solutions designed to enhance and maximize the operational performance of its customers through the adaptation and deployment of advanced information technology and engineering services. RCM is an innovative leader in the delivery of these solutions to commercial and government sectors. RCM is also a provider of specialty healthcare services to major health care institutions and educational facilities. RCM's offices are located in major metropolitan centers throughout North America and Serbia.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
