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Should You Invest in RCM Technologies (RCMT)?

Deep Sail Capital, an investment management company, released its first quarter 2023 investor letter. A copy of the same can be downloaded here. In the first quarter, the fund returned 17.8% net of fees compared to a 2.7% return for the Russell 2000 Index and 9.1% for the Russell Small Cap Growth Index. The significant outperformance of the fund in the first quarter was driven by the strong performance of its top holdings. You can check the top 5 holdings of the fund to know its best picks in 2023.

Deep Sail Capital highlighted stocks like RCM Technologies, Inc. (NASDAQ:RCMT) in the first quarter 2023 investor letter. Headquartered in Pennsauken, New Jersey, RCM Technologies, Inc. (NASDAQ:RCMT) offers business and technology solutions that operate through engineering, Specialty Health Care, and Life Sciences and Information Technology. On June 8, 2023, RCM Technologies, Inc. (NASDAQ:RCMT) stock closed at $17.00 per share. One-month return of RCM Technologies, Inc. (NASDAQ:RCMT) was 20.82%, and its shares lost 31.23% of their value over the last 52 weeks. RCM Technologies, Inc. (NASDAQ:RCMT) has a market capitalization of $140.579 million.

Deep Sail Capital made the following comment about RCM Technologies, Inc. (NASDAQ:RCMT) in its Q1 2023 investor letter:

"In Q1, we opened a large position in RCM Technologies, Inc. (NASDAQ:RCMT), a talent placement serial acquirer trading at a P/E of 6, with a history of strong capital allocation and a large share buyback program in place."

16 Most Technologically Advanced Countries in the World in 2017
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RCM Technologies, Inc. (NASDAQ:RCMT) is not on our list of 30 Most Popular Stocks Among Hedge Funds. As per our database, 5 hedge fund portfolios held RCM Technologies, Inc. (NASDAQ:RCMT) at the end of first quarter 2023 which was 6 in the previous quarter. In addition, please check out our hedge fund investor letters Q1 2023 page for more investor letters from hedge funds and other leading investors.

 

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Disclosure: None. This article is originally published at Insider Monkey.

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