Kennedy Capital Management LLC Sells 1,331 Shares of Resources Connection, Inc. (NASDAQ:RGP)

Kennedy Capital Management LLC lowered its holdings in Resources Connection, Inc. (NASDAQ:RGP) by 1.4% during the first quarter, HoldingsChannel.com reports. The fund owned 92,348 shares of the company’s stock after selling 1,331 shares during the period. Kennedy Capital Management LLC’s holdings in Resources Connection were worth $1,215,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in RGP. Circumference Group LLC bought a new stake in Resources Connection in the fourth quarter valued at about $6,376,000. Horrell Capital Management Inc. increased its stake in Resources Connection by 45.6% in the first quarter. Horrell Capital Management Inc. now owns 655,000 shares of the company’s stock valued at $8,620,000 after acquiring an additional 205,000 shares during the period. Access Investment Management LLC increased its stake in Resources Connection by 18,060.8% in the first quarter. Access Investment Management LLC now owns 88,080 shares of the company’s stock valued at $1,159,000 after acquiring an additional 87,595 shares during the period. Clark Estates Inc. NY bought a new stake in Resources Connection in the fourth quarter valued at about $1,020,000. Finally, Russell Investments Group Ltd. grew its stake in Resources Connection by 113.8% during the first quarter. Russell Investments Group Ltd. now owns 130,769 shares of the company’s stock worth $1,721,000 after buying an additional 69,594 shares during the last quarter. Institutional investors own 93.23% of the company’s stock.

Resources Connection Trading Down 0.1 %

Shares of RGP stock opened at $11.93 on Thursday. Resources Connection, Inc. has a 1 year low of $9.70 and a 1 year high of $16.35. The firm’s fifty day moving average price is $10.89 and its two-hundred day moving average price is $11.99. The firm has a market capitalization of $400.37 million, a P/E ratio of 18.08, a PEG ratio of 1.20 and a beta of 0.67.

Resources Connection (NASDAQ:RGP) last announced its quarterly earnings data on Thursday, July 18th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.18. Resources Connection had a net margin of 3.32% and a return on equity of 6.19%. The company had revenue of $148.20 million during the quarter, compared to the consensus estimate of $140.59 million. During the same quarter last year, the firm posted $0.39 EPS. The company’s quarterly revenue was down 19.7% on a year-over-year basis. As a group, equities research analysts forecast 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 issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 4.69%. The ex-dividend date of this dividend is Friday, August 23rd. Resources Connection’s dividend payout ratio is currently 84.85%.

Insider Activity

In other news, CFO Jennifer Y. Ryu sold 11,650 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $11.25, for a total value of $131,062.50. Following the completion of the transaction, the chief financial officer now directly owns 84,481 shares in the company, valued at approximately $950,411.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CFO Jennifer Y. Ryu sold 11,650 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $11.25, for a total transaction of $131,062.50. Following the completion of the transaction, the chief financial officer now directly owns 84,481 shares in the company, valued at approximately $950,411.25. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Roger D. Carlile purchased 25,000 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was acquired at an average price of $11.25 per share, with a total value of $281,250.00. Following the completion of the transaction, the director now owns 25,000 shares in the company, valued at approximately $281,250. The disclosure for this purchase can be found here. Corporate insiders own 7.36% of the company’s stock.

Analysts Set New Price Targets

RGP has been the topic of several research analyst reports. Robert W. Baird decreased 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. Noble Financial initiated coverage on shares of Resources Connection in a research report on Wednesday, May 29th. They set an “outperform” rating and a $15.00 target price on the stock. StockNews.com cut shares of Resources Connection from a “buy” rating to a “hold” rating in a research note on Saturday, July 27th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Resources Connection from $12.00 to $11.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 23rd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $13.00.

About Resources Connection

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.