Jump Financial LLC Trims Stake in Resources Connection, Inc. $RGP

Jump Financial LLC lowered its holdings in Resources Connection, Inc. (NASDAQ:RGP) by 69.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,580 shares of the company’s stock after selling 31,609 shares during the quarter. Jump Financial LLC’s holdings in Resources Connection were worth $89,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Hotchkis & Wiley Capital Management LLC raised its position in Resources Connection by 3.6% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 1,187,901 shares of the company’s stock valued at $7,769,000 after purchasing an additional 41,800 shares during the period. AlphaQuest LLC raised its position in Resources Connection by 429.1% in the first quarter. AlphaQuest LLC now owns 60,195 shares of the company’s stock valued at $394,000 after purchasing an additional 48,819 shares during the period. Hsbc Holdings PLC purchased a new stake in Resources Connection in the first quarter valued at $120,000. American Century Companies Inc. raised its position in Resources Connection by 28.8% in the first quarter. American Century Companies Inc. now owns 91,019 shares of the company’s stock valued at $595,000 after purchasing an additional 20,350 shares during the period. Finally, Russell Investments Group Ltd. raised its position in Resources Connection by 13.6% in the first quarter. Russell Investments Group Ltd. now owns 946,400 shares of the company’s stock valued at $6,189,000 after purchasing an additional 113,614 shares during the period. Hedge funds and other institutional investors own 93.23% of the company’s stock.

Analyst Ratings Changes

Separately, Wall Street Zen raised Resources Connection from a “strong sell” rating to a “hold” rating in a research note on Saturday, July 26th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Resources Connection currently has a consensus rating of “Sell” and an average target price of $5.00.

Resources Connection Trading Down 1.4%

Shares of NASDAQ RGP opened at $5.00 on Friday. Resources Connection, Inc. has a twelve month low of $4.44 and a twelve month high of $10.27. The stock has a fifty day simple moving average of $5.15 and a 200-day simple moving average of $5.65. The stock has a market capitalization of $166.70 million, a PE ratio of -0.86, a PEG ratio of 2.82 and a beta of 0.63.

Resources Connection Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, August 29th will be paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 5.6%. The ex-dividend date of this dividend is Friday, August 29th. Resources Connection’s payout ratio is presently -4.81%.

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.