LPL Financial LLC lifted its holdings in shares of Resources Connection, Inc. (NASDAQ:RGP – Free Report) by 10.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,250 shares of the company’s stock after buying an additional 7,144 shares during the period. LPL Financial LLC owned approximately 0.22% of Resources Connection worth $1,166,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Covestor Ltd boosted its position in shares of Resources Connection by 483.7% during the first quarter. Covestor Ltd now owns 1,652 shares of the company’s stock valued at $28,000 after buying an additional 1,369 shares during the last quarter. Quarry LP boosted its position in shares of Resources Connection by 70.2% during the first quarter. Quarry LP now owns 2,042 shares of the company’s stock valued at $35,000 after buying an additional 842 shares during the last quarter. Captrust Financial Advisors boosted its position in shares of Resources Connection by 41.7% during the first quarter. Captrust Financial Advisors now owns 2,659 shares of the company’s stock valued at $46,000 after buying an additional 783 shares during the last quarter. Tucker Asset Management LLC purchased a new stake in shares of Resources Connection during the first quarter valued at $68,000. Finally, Nisa Investment Advisors LLC boosted its position in shares of Resources Connection by 23.0% during the first quarter. Nisa Investment Advisors LLC now owns 5,660 shares of the company’s stock valued at $97,000 after buying an additional 1,060 shares during the last quarter. 83.96% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts recently commented on the company. JPMorgan Chase & Co. dropped their price objective on Resources Connection from $16.00 to $14.00 and set an “underweight” rating on the stock in a research report on Thursday, October 5th. Robert W. Baird dropped their target price on Resources Connection from $18.00 to $15.00 in a research report on Thursday, October 5th. StockNews.com assumed coverage on Resources Connection in a research report on Thursday, October 5th. They issued a “buy” rating on the stock. Finally, TheStreet cut Resources Connection from a “b” rating to a “c+” rating in a research report on Wednesday, October 4th.
Insider Transactions at Resources Connection
In related news, Director David P. White sold 2,753 shares of Resources Connection stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $13.34, for a total transaction of $36,725.02. Following the sale, the director now owns 10,915 shares of the company’s stock, valued at approximately $145,606.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 7.36% of the company’s stock.
Resources Connection Stock Performance
Shares of NASDAQ:RGP opened at $14.18 on Friday. The stock’s 50-day simple moving average is $14.25 and its two-hundred day simple moving average is $15.25. Resources Connection, Inc. has a 52-week low of $13.00 and a 52-week high of $19.74. The stock has a market capitalization of $477.87 million, a price-to-earnings ratio of 12.22 and a beta of 0.74.
Resources Connection (NASDAQ:RGP – Get Free Report) last posted its quarterly earnings data on Wednesday, October 4th. The company reported $0.20 EPS for the quarter, topping the consensus estimate of $0.16 by $0.04. Resources Connection had a return on equity of 11.35% and a net margin of 5.30%. The firm had revenue of $170.17 million for the quarter, compared to the consensus estimate of $170.14 million. During the same quarter last year, the company earned $0.53 earnings per share. The business’s revenue for the quarter was down 16.6% compared to the same quarter last year. As a group, equities analysts forecast that Resources Connection, Inc. will post 0.74 earnings per share for the current fiscal year.
Resources Connection Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 14th. Stockholders of record on Thursday, November 16th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 3.95%. The ex-dividend date of this dividend is Wednesday, November 15th. Resources Connection’s dividend payout ratio (DPR) is currently 48.28%.
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.
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