Resources Connection (NASDAQ:RGP) Cut to Sell at Wall Street Zen

Wall Street Zen lowered shares of Resources Connection (NASDAQ:RGP) from a hold rating to a sell rating in a report published on Saturday morning.

Resources Connection Trading Up 4.1%

Shares of RGP stock opened at $3.77 on Friday. The business’s 50-day moving average price is $3.77 and its 200-day moving average price is $4.41. Resources Connection has a 12 month low of $3.06 and a 12 month high of $6.30. The firm has a market capitalization of $129.42 million, a price-to-earnings ratio of -1.27 and a beta of 0.45.

Resources Connection (NASDAQ:RGP) last announced its quarterly earnings results on Wednesday, April 8th. The company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.04). Resources Connection had a negative net margin of 20.16% and a negative return on equity of 0.55%. The firm had revenue of $107.93 million for the quarter, compared to analyst estimates of $108.19 million.

Resources Connection Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 20th. Stockholders of record on Friday, February 20th were paid a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 7.4%. The ex-dividend date of this dividend was Friday, February 20th. Resources Connection’s dividend payout ratio (DPR) is presently -9.46%.

Hedge Funds Weigh In On Resources Connection

Hedge funds have recently made changes to their positions in the stock. AQR Capital Management LLC raised its position in shares of Resources Connection by 13.0% during the first quarter. AQR Capital Management LLC now owns 714,138 shares of the company’s stock worth $4,670,000 after acquiring an additional 82,099 shares during the last quarter. Goldman Sachs Group Inc. raised its position in shares of Resources Connection by 30.7% during the first quarter. Goldman Sachs Group Inc. now owns 262,248 shares of the company’s stock worth $1,715,000 after acquiring an additional 61,580 shares during the last quarter. Empowered Funds LLC raised its position in shares of Resources Connection by 7.3% during the first 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 last quarter. Strs Ohio bought a new position in shares of Resources Connection during the first quarter worth about $48,000. Finally, XTX Topco Ltd bought a new position in shares of Resources Connection during the second quarter worth about $118,000. 93.23% of the stock is currently owned by institutional investors.

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.