Resources Connection, Inc. (NASDAQ:RGP) Shares Sold by Entropy Technologies LP

Entropy Technologies LP reduced its position in Resources Connection, Inc. (NASDAQ:RGP) by 10.0% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 12,570 shares of the company’s stock after selling 1,400 shares during the quarter. Entropy Technologies LP’s holdings in Resources Connection were worth $122,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of RGP. Allspring Global Investments Holdings LLC increased its stake in shares of Resources Connection by 972.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 8,504 shares of the company’s stock worth $112,000 after acquiring an additional 7,711 shares during the period. BNP Paribas Financial Markets raised its stake in shares of Resources Connection by 91.7% during the 1st quarter. BNP Paribas Financial Markets now owns 16,338 shares of the company’s stock worth $215,000 after buying an additional 7,817 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Resources Connection in the 1st quarter valued at approximately $196,000. Russell Investments Group Ltd. boosted its stake in shares of Resources Connection by 113.8% in the first quarter. Russell Investments Group Ltd. now owns 130,769 shares of the company’s stock valued at $1,721,000 after buying an additional 69,594 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System grew its holdings in Resources Connection by 21.2% during the first quarter. State Board of Administration of Florida Retirement System now owns 48,381 shares of the company’s stock worth $637,000 after acquiring an additional 8,453 shares during the period. Hedge funds and other institutional investors own 93.23% of the company’s stock.

Resources Connection Stock Performance

Resources Connection stock opened at $8.34 on Monday. The firm has a market capitalization of $279.14 million, a price-to-earnings ratio of 23.17, a price-to-earnings-growth ratio of 3.37 and a beta of 0.67. Resources Connection, Inc. has a fifty-two week low of $7.90 and a fifty-two week high of $14.63. The stock’s fifty day moving average is $8.86 and its two-hundred day moving average is $10.10.

Resources Connection (NASDAQ:RGP) last posted its earnings results on Tuesday, October 1st. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.21). Resources Connection had a net margin of 2.04% and a return on equity of 3.69%. The business had revenue of $136.94 million for the quarter, compared to analysts’ expectations of $137.82 million. During the same quarter last year, the business posted $0.14 earnings per share. The business’s revenue was down 19.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Resources Connection, Inc. will post 0.16 EPS for the current fiscal year.

Resources Connection Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 6.71%. The ex-dividend date of this dividend is Friday, November 15th. Resources Connection’s payout ratio is currently 155.56%.

Analysts Set New Price Targets

RGP has been the topic of several research analyst reports. StockNews.com lowered shares of Resources Connection from a “buy” rating to a “hold” rating in a research report on Saturday, July 27th. JPMorgan Chase & Co. decreased their price objective on shares of Resources Connection from $12.00 to $11.00 and set an “underweight” rating on the stock in a report on Tuesday, July 23rd.

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.