358,954 Shares in Resources Connection, Inc. $RGP Bought by Peapod Lane Capital LLC

Peapod Lane Capital LLC bought a new position in shares of Resources Connection, Inc. (NASDAQ:RGP) in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 358,954 shares of the company’s stock, valued at approximately $1,809,000. Resources Connection comprises approximately 1.5% of Peapod Lane Capital LLC’s investment portfolio, making the stock its 28th biggest position.

Several other large investors have also added to or reduced their stakes in the business. U.S. Capital Wealth Advisors LLC acquired a new position in Resources Connection during the fourth quarter worth $50,000. SG Americas Securities LLC lifted its stake in Resources Connection by 54.4% in the fourth quarter. SG Americas Securities LLC now owns 27,584 shares of the company’s stock valued at $139,000 after acquiring an additional 9,719 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Resources Connection in the fourth quarter valued at $1,140,000. Wealth Enhancement Advisory Services LLC acquired a new stake in Resources Connection in the fourth quarter valued at $64,000. Finally, JPMorgan Chase & Co. lifted its stake in Resources Connection by 7.9% in the third quarter. JPMorgan Chase & Co. now owns 498,882 shares of the company’s stock valued at $2,519,000 after acquiring an additional 36,352 shares during the last quarter. Institutional investors and hedge funds own 93.23% of the company’s stock.

Resources Connection Stock Performance

NASDAQ RGP opened at $3.90 on Friday. The firm has a 50-day moving average of $3.72 and a 200-day moving average of $4.36. The stock has a market cap of $133.89 million, a PE ratio of -1.32 and a beta of 0.45. Resources Connection, Inc. has a 52-week low of $3.06 and a 52-week high of $6.30.

Resources Connection (NASDAQ:RGP) last posted its earnings results on Wednesday, April 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.04). The company had revenue of $107.93 million for the quarter, compared to analyst estimates of $108.19 million. Resources Connection had a negative return on equity of 0.55% and a negative net margin of 20.16%. As a group, analysts predict that Resources Connection, Inc. will post -0.29 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Wall Street Zen cut shares of Resources Connection from a “hold” rating to a “sell” rating in a research note on Saturday, April 11th. Zacks Research cut shares of Resources Connection from a “hold” rating to a “strong sell” rating in a research note on Monday, April 13th. Two equities research analysts have rated the stock with a Buy rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, Resources Connection currently has a consensus rating of “Hold” and an average target price of $7.00.

Resources Connection Company Profile

Resources Connection, Inc (NASDAQ: RGP) is a publicly traded professional services firm that specializes in providing independent consulting and project-based teams to help organizations manage critical business challenges. Operating under the RGP brand, the company connects highly skilled consultants with clients seeking support in areas such as finance and accounting, legal and risk management, supply chain optimization, technology implementation, and digital transformation.

RGP’s consultants bring specific industry and functional expertise to engagements, working on a flexible basis that allows clients to scale resources up or down as needed.