Royce & Associates LP Sells 1,217,710 Shares of Resources Connection, Inc. $RGP

Royce & Associates LP reduced its stake in Resources Connection, Inc. (NASDAQ:RGP) by 63.5% in the 3rd quarter, Holdings Channel reports. The firm owned 700,776 shares of the company’s stock after selling 1,217,710 shares during the period. Royce & Associates LP’s holdings in Resources Connection were worth $3,539,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its position in shares of Resources Connection by 13.0% in the first quarter. AQR Capital Management LLC now owns 714,138 shares of the company’s stock valued at $4,670,000 after purchasing an additional 82,099 shares during the period. Goldman Sachs Group Inc. grew its stake in Resources Connection by 30.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 262,248 shares of the company’s stock valued at $1,715,000 after buying an additional 61,580 shares during the last quarter. Empowered Funds LLC raised its holdings in Resources Connection by 7.3% in the 1st quarter. Empowered Funds LLC now owns 178,769 shares of the company’s stock worth $1,169,000 after acquiring an additional 12,231 shares during the period. Strs Ohio bought a new position in Resources Connection in the 1st quarter worth $48,000. Finally, Nisa Investment Advisors LLC lifted its position in Resources Connection by 171.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 8,466 shares of the company’s stock worth $45,000 after acquiring an additional 5,344 shares during the last quarter. Institutional investors and hedge funds own 93.23% of the company’s stock.

Resources Connection Stock Down 1.3%

NASDAQ RGP opened at $3.70 on Friday. The stock has a market cap of $123.96 million, a P/E ratio of -0.92 and a beta of 0.49. The company’s 50-day simple moving average is $4.36 and its 200 day simple moving average is $4.68. Resources Connection, Inc. has a twelve month low of $3.42 and a twelve month high of $7.36.

Resources Connection (NASDAQ:RGP) last announced its quarterly earnings results on Wednesday, January 7th. The company reported $0.06 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.08. Resources Connection had a negative net margin of 26.13% and a positive return on equity of 0.62%. The firm had revenue of $117.73 million during the quarter, compared to analysts’ expectations of $119.97 million.

Resources Connection Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, February 20th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Friday, February 20th. This represents a $0.28 annualized dividend and a yield of 7.6%. Resources Connection’s payout ratio is currently -6.97%.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised Resources Connection from a “sell” rating to a “hold” rating in a research report on Saturday, December 6th. Two equities research analysts have rated the stock with a Buy rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, Resources Connection currently has a consensus rating of “Hold” and a consensus target price of $6.00.

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.