Resources Connection (NASDAQ:RGP) Now Covered by Analysts at Northcoast Research

Northcoast Research assumed coverage on shares of Resources Connection (NASDAQ:RGP) in a research report sent to investors on Wednesday morning, Marketbeat reports. The brokerage issued a buy rating and a $7.00 price objective on the stock.

Separately, Wall Street Zen raised Resources Connection from a “strong sell” rating to a “hold” rating in a research report on Saturday, July 26th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $6.00.

Resources Connection Stock Up 1.6%

Shares of RGP opened at $5.17 on Wednesday. Resources Connection has a 52-week low of $4.44 and a 52-week high of $9.96. The company has a market capitalization of $172.52 million, a PE ratio of -0.89, a price-to-earnings-growth ratio of 2.83 and a beta of 0.63. The stock has a fifty day simple moving average of $5.02 and a two-hundred day simple moving average of $5.46.

Resources Connection Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, August 29th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend is Friday, August 29th. Resources Connection’s dividend payout ratio (DPR) is presently -4.81%.

Hedge Funds Weigh In On Resources Connection

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Royce & Associates LP boosted its holdings in Resources Connection by 9.1% during the 1st quarter. Royce & Associates LP now owns 2,063,619 shares of the company’s stock valued at $13,496,000 after acquiring an additional 172,158 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its holdings in Resources Connection by 3.6% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 1,187,901 shares of the company’s stock valued at $7,769,000 after acquiring an additional 41,800 shares during the period. Russell Investments Group Ltd. boosted its holdings in Resources Connection by 13.6% during the 1st quarter. Russell Investments Group Ltd. now owns 946,400 shares of the company’s stock valued at $6,189,000 after acquiring an additional 113,614 shares during the period. Invenomic Capital Management LP boosted its holdings in Resources Connection by 30.5% during the 1st quarter. Invenomic Capital Management LP now owns 788,952 shares of the company’s stock valued at $5,160,000 after acquiring an additional 184,335 shares during the period. Finally, AQR Capital Management LLC boosted its holdings in Resources Connection by 13.0% during the 1st quarter. AQR Capital Management LLC now owns 714,138 shares of the company’s stock valued at $4,670,000 after acquiring an additional 82,099 shares during the period. 93.23% of the stock is currently owned by hedge funds and other institutional investors.

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.