Tieton Capital Management LLC Buys New Stake in Resources Connection, Inc. (NASDAQ:RGP)

Tieton Capital Management LLC purchased a new position in shares of Resources Connection, Inc. (NASDAQ:RGP) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 403,250 shares of the company’s stock, valued at approximately $4,452,000. Resources Connection makes up about 2.5% of Tieton Capital Management LLC’s holdings, making the stock its 21st largest holding. Tieton Capital Management LLC owned 1.20% of Resources Connection as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC raised its stake in shares of Resources Connection by 66.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,554 shares of the company’s stock worth $28,000 after buying an additional 1,019 shares during the period. CWM LLC raised its position in Resources Connection by 883.5% during the second quarter. CWM LLC now owns 3,393 shares of the company’s stock worth $37,000 after acquiring an additional 3,048 shares during the period. Quarry LP purchased a new position in Resources Connection during the fourth quarter valued at $39,000. Mather Group LLC. acquired a new stake in shares of Resources Connection in the second quarter valued at about $44,000. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of Resources Connection by 972.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 8,504 shares of the company’s stock worth $112,000 after purchasing an additional 7,711 shares in the last quarter. Institutional investors and hedge funds own 93.23% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on RGP shares. StockNews.com cut Resources Connection from a “buy” rating to a “hold” rating in a report on Saturday, July 27th. Noble Financial assumed coverage on Resources Connection in a research report on Wednesday, May 29th. They issued an “outperform” rating and a $15.00 target price on the stock. Finally, JPMorgan Chase & Co. dropped their price target on Resources Connection from $12.00 to $11.00 and set an “underweight” rating for the company in a research report on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $13.00.

Resources Connection Trading Down 0.4 %

Shares of NASDAQ RGP opened at $9.97 on Tuesday. The stock has a market cap of $333.70 million, a PE ratio of 15.11, a P/E/G ratio of 0.99 and a beta of 0.65. Resources Connection, Inc. has a 12-month low of $9.44 and a 12-month high of $15.44. The company has a 50-day moving average of $10.45 and a 200 day moving average of $11.24.

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

Resources Connection Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, August 23rd will be paid a $0.14 dividend. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $0.56 annualized dividend and a dividend yield of 5.62%. Resources Connection’s dividend payout ratio (DPR) is 84.85%.

Insider Transactions at Resources Connection

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

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.