Royce & Associates LP Sells 315,168 Shares of Resources Connection, Inc. $RGP

Royce & Associates LP lessened its holdings in Resources Connection, Inc. (NASDAQ:RGP) by 45.0% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 385,608 shares of the company’s stock after selling 315,168 shares during the period. Royce & Associates LP owned about 1.15% of Resources Connection worth $1,943,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. Strs Ohio bought a new stake in Resources Connection during the 1st quarter worth approximately $48,000. Quarry LP raised its stake in Resources Connection by 4,995.7% during the 3rd quarter. Quarry LP now owns 9,529 shares of the company’s stock worth $48,000 after acquiring an additional 9,342 shares during the period. U.S. Capital Wealth Advisors LLC bought a new stake in Resources Connection during the 4th quarter worth approximately $50,000. AXQ Capital LP bought a new stake in Resources Connection during the 3rd quarter worth approximately $61,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in Resources Connection during the 4th quarter worth approximately $64,000. Institutional investors own 93.23% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on RGP. Weiss Ratings upgraded shares of Resources Connection from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday, May 18th. Zacks Research cut shares of Resources Connection from a “hold” rating to a “strong sell” rating in a research note on Monday, April 13th. Finally, Wall Street Zen upgraded shares of Resources Connection from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Two equities research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $7.00.

Resources Connection Trading Up 4.1%

NASDAQ RGP opened at $4.52 on Friday. Resources Connection, Inc. has a 12 month low of $3.06 and a 12 month high of $6.30. The company’s 50 day moving average is $4.03 and its two-hundred day moving average is $4.33. The stock has a market cap of $155.17 million, a price-to-earnings ratio of -1.53 and a beta of 0.52.

Resources Connection (NASDAQ:RGP) last released its quarterly earnings data on Wednesday, April 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.05) by ($0.04). The company had revenue of $107.93 million for the quarter, compared to the consensus estimate of $108.19 million. Resources Connection had a negative net margin of 20.16% and a negative return on equity of 0.55%. Sell-side analysts forecast that Resources Connection, Inc. will post -0.29 EPS for the current year.

Resources Connection Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 19th. Stockholders of record on Thursday, May 21st will be given a dividend of $0.07 per share. The ex-dividend date is Thursday, May 21st. This represents a $0.28 annualized dividend and a dividend yield of 6.2%. Resources Connection’s dividend payout ratio (DPR) is presently -9.46%.

Resources Connection 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.