Resources Connection, Inc. (NASDAQ:RGP) Shares Sold by Royce & Associates LP

Royce & Associates LP trimmed its holdings in shares of Resources Connection, Inc. (NASDAQ:RGP) by 0.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,897,569 shares of the company’s stock after selling 16,249 shares during the period. Royce & Associates LP owned approximately 0.06% of Resources Connection worth $18,406,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of RGP. Vanguard Group Inc. lifted its stake in shares of Resources Connection by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 2,419,297 shares of the company’s stock valued at $31,838,000 after purchasing an additional 30,393 shares during the period. AQR Capital Management LLC lifted its stake in shares of Resources Connection by 18.8% in the 2nd quarter. AQR Capital Management LLC now owns 836,558 shares of the company’s stock valued at $9,236,000 after purchasing an additional 132,586 shares during the period. Horrell Capital Management Inc. lifted its stake in shares of Resources Connection by 16.4% in the 3rd quarter. Horrell Capital Management Inc. now owns 815,000 shares of the company’s stock valued at $7,906,000 after purchasing an additional 115,000 shares during the period. Millennium Management LLC lifted its stake in shares of Resources Connection by 438.5% in the 2nd quarter. Millennium Management LLC now owns 537,743 shares of the company’s stock valued at $5,937,000 after purchasing an additional 437,878 shares during the period. Finally, Tieton Capital Management LLC acquired a new position in shares of Resources Connection in the 2nd quarter valued at $4,452,000. 93.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have weighed in on RGP shares. JPMorgan Chase & Co. reduced their price objective on shares of Resources Connection from $12.00 to $11.00 and set an “underweight” rating for the company in a research report on Tuesday, July 23rd. StockNews.com cut shares of Resources Connection from a “buy” rating to a “hold” rating in a research report on Saturday, July 27th.

Resources Connection Stock Performance

NASDAQ:RGP opened at $8.34 on Friday. Resources Connection, Inc. has a fifty-two week low of $7.90 and a fifty-two week high of $14.63. The stock has a market capitalization of $279.15 million, a PE ratio of 23.17, a P/E/G ratio of 3.54 and a beta of 0.67. The company has a fifty day moving average of $8.86 and a two-hundred day moving average of $10.11.

Resources Connection (NASDAQ:RGP) last released its earnings results on Tuesday, October 1st. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.21). Resources Connection had a return on equity of 3.69% and a net margin of 2.04%. The business had revenue of $136.94 million for the quarter, compared to analysts’ expectations of $137.82 million. During the same period in the previous year, the company earned $0.14 EPS. Resources Connection’s quarterly revenue was down 19.5% compared to the same quarter last year. Research analysts forecast that Resources Connection, Inc. will post 0.16 earnings per share for the current year.

Resources Connection Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 6.71%. The ex-dividend date of this dividend is Friday, November 15th. Resources Connection’s payout ratio is 155.56%.

Resources Connection 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.