Insider Selling: Resources Connection, Inc. (NASDAQ:RGP) CFO Sells 11,650 Shares of Stock

Resources Connection, Inc. (NASDAQ:RGP) CFO Jennifer Y. Ryu sold 11,650 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $11.25, for a total transaction of $131,062.50. Following the completion of the sale, the chief financial officer now owns 84,481 shares in the company, valued at $950,411.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Resources Connection Price Performance

Resources Connection stock opened at $11.71 on Friday. The company has a market cap of $392.99 million, a P/E ratio of 17.74, a price-to-earnings-growth ratio of 1.17 and a beta of 0.67. Resources Connection, Inc. has a fifty-two week low of $9.70 and a fifty-two week high of $16.42. The firm’s 50 day simple moving average is $10.85 and its 200-day simple moving average is $12.02.

Resources Connection (NASDAQ:RGP) last announced its earnings results on Thursday, July 18th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.18. The company had revenue of $148.20 million for the quarter, compared to the consensus estimate of $140.59 million. Resources Connection had a net margin of 3.32% and a return on equity of 6.19%. The company’s revenue was down 19.7% on a year-over-year basis. During the same period in the previous year, the business earned $0.39 EPS. On average, analysts expect that Resources Connection, Inc. will post 0.67 EPS for the current fiscal year.

Resources Connection Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 23rd will be given a dividend of $0.14 per share. The ex-dividend date is Friday, August 23rd. This represents a $0.56 dividend on an annualized basis and a yield of 4.78%. Resources Connection’s payout ratio is presently 84.85%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on RGP shares. Robert W. Baird lowered their price objective on shares of Resources Connection from $15.00 to $13.00 and set a “neutral” rating on the stock in a research note on Thursday, April 4th. StockNews.com cut Resources Connection from a “buy” rating to a “hold” rating in a report on Saturday. Noble Financial began coverage on Resources Connection in a research note on Wednesday, May 29th. They set an “outperform” rating and a $15.00 price objective for the company. Finally, JPMorgan Chase & Co. decreased their target price on Resources Connection from $12.00 to $11.00 and set an “underweight” rating on the stock in a report on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $13.00.

Hedge Funds Weigh In On Resources Connection

A number of large investors have recently made changes to their positions in the business. Circumference Group LLC acquired a new stake in shares of Resources Connection during the fourth quarter worth approximately $6,376,000. Assenagon Asset Management S.A. boosted its stake in shares of Resources Connection by 38.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 194,389 shares of the company’s stock valued at $2,754,000 after buying an additional 53,882 shares during the period. Quest Partners LLC purchased a new position in shares of Resources Connection during the 4th quarter valued at $307,000. Clark Estates Inc. NY acquired a new position in shares of Resources Connection in the fourth quarter worth $1,020,000. Finally, Prosperity Consulting Group LLC purchased a new stake in shares of Resources Connection during the first quarter worth $366,000. Institutional investors and hedge funds own 93.23% of the company’s stock.

Resources Connection Company Profile

Resources Connection, Inc provides consulting services to business customers under the Resources Global Professionals name in North America, Europe, and the Asia Pacific. The company offers services in the areas of transactions, including integration and divestitures, bankruptcy/restructuring, going public readiness and support, financial process optimization, and system implementation; and regulations, such as accounting regulations, internal audit and compliance, data privacy and security, healthcare compliance, and regulatory compliance.