Quantinno Capital Management LP Sells 166,674 Shares of Resources Connection, Inc. $RGP

Quantinno Capital Management LP decreased its position in shares of Resources Connection, Inc. (NASDAQ:RGP) by 84.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,181 shares of the company’s stock after selling 166,674 shares during the quarter. Quantinno Capital Management LP owned 0.09% of Resources Connection worth $116,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in RGP. Vanguard Group Inc. lifted its position in Resources Connection by 5.1% in the 3rd quarter. Vanguard Group Inc. now owns 2,011,147 shares of the company’s stock valued at $10,156,000 after acquiring an additional 97,228 shares in the last quarter. Brandes Investment Partners LP boosted its stake in Resources Connection by 3.1% during the 4th quarter. Brandes Investment Partners LP now owns 1,442,645 shares of the company’s stock valued at $7,271,000 after purchasing an additional 43,369 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Resources Connection by 37.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,407,032 shares of the company’s stock worth $7,091,000 after purchasing an additional 380,769 shares in the last quarter. Circumference Group LLC increased its holdings in shares of Resources Connection by 7.8% in the 4th quarter. Circumference Group LLC now owns 1,389,243 shares of the company’s stock worth $7,002,000 after purchasing an additional 100,000 shares in the last quarter. Finally, Sei Investments Co. raised its stake in shares of Resources Connection by 111.5% in the first quarter. Sei Investments Co. now owns 1,329,568 shares of the company’s stock worth $4,959,000 after purchasing an additional 700,943 shares during the last quarter. Institutional investors own 93.23% of the company’s stock.

Resources Connection Trading Down 0.5%

Shares of RGP opened at $4.26 on Wednesday. The firm has a fifty day simple moving average of $4.33 and a two-hundred day simple moving average of $4.13. The firm has a market cap of $146.71 million, a PE ratio of -3.55 and a beta of 0.54. Resources Connection, Inc. has a 1-year low of $3.06 and a 1-year high of $5.55.

Resources Connection (NASDAQ:RGP) last posted its quarterly earnings data on Wednesday, July 22nd. The company reported ($0.07) EPS for the quarter, beating analysts’ consensus estimates of ($0.08) by $0.01. The company had revenue of $106.11 million during the quarter, compared to analysts’ expectations of $106.76 million. Resources Connection had a negative return on equity of 4.63% and a negative net margin of 8.98%. As a group, research analysts forecast that Resources Connection, Inc. will post -0.44 EPS for the current fiscal year.

Resources Connection Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 3rd will be given a dividend of $0.07 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a $0.28 annualized dividend and a dividend yield of 6.6%. Resources Connection’s dividend payout ratio is presently -23.33%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Weiss Ratings raised Resources Connection from a “sell (e+)” rating to a “sell (d-)” rating in a report on Monday, June 15th. Wall Street Zen downgraded Resources Connection from a “hold” rating to a “sell” rating in a report on Saturday, August 1st. Finally, Zacks Research raised Resources Connection from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 9th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target 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.