State of Alaska Department of Revenue lifted its stake in Resources Connection, Inc. (NASDAQ:RGP – Get Rating) by 10.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,537 shares of the company's stock after acquiring an additional 2,270 shares during the period. State of Alaska Department of Revenue owned approximately 0.07% of Resources Connection worth $479,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Assenagon Asset Management S.A. boosted its stake in Resources Connection by 94.1% during the first quarter. Assenagon Asset Management S.A. now owns 377,017 shares of the company's stock worth $6,462,000 after buying an additional 182,731 shares in the last quarter. Royce & Associates LP boosted its stake in Resources Connection by 18.3% during the first quarter. Royce & Associates LP now owns 884,998 shares of the company's stock worth $15,169,000 after buying an additional 137,084 shares in the last quarter. Aviva PLC acquired a new stake in Resources Connection during the first quarter worth $1,553,000. Invesco Ltd. lifted its holdings in shares of Resources Connection by 18.4% during the first quarter. Invesco Ltd. now owns 509,473 shares of the company's stock valued at $8,733,000 after acquiring an additional 79,194 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of Resources Connection by 15.7% during the first quarter. Renaissance Technologies LLC now owns 481,243 shares of the company's stock valued at $8,249,000 after acquiring an additional 65,300 shares during the period. Institutional investors and hedge funds own 84.12% of the company's stock.
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Analyst Upgrades and Downgrades
Separately, Robert W. Baird lifted their price objective on Resources Connection from $21.00 to $25.00 in a report on Monday, August 1st.
Insider Activity at Resources Connection
In other Resources Connection news, Director Donald B. Murray sold 1,526 shares of the business's stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $20.99, for a total transaction of $32,030.74. Following the completion of the sale, the director now directly owns 818,060 shares of the company's stock, valued at approximately $17,171,079.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through
the SEC website. In other Resources Connection news, Director Donald B. Murray sold 77,594 shares of the business's stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $21.11, for a total transaction of $1,638,009.34. Following the completion of the sale, the director now directly owns 313,124 shares of the company's stock, valued at approximately $6,610,047.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through
the SEC website. Also, Director Donald B. Murray sold 1,526 shares of the business's stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $20.99, for a total value of $32,030.74. Following the sale, the director now directly owns 818,060 shares of the company's stock, valued at $17,171,079.40. The disclosure for this sale can be found
here. 8.04% of the stock is currently owned by company insiders.
Resources Connection Stock Up 1.1 %
Shares of NASDAQ RGP opened at $18.07 on Monday. The stock has a market cap of $609.88 million, a PE ratio of 9.04 and a beta of 0.81. The business has a fifty day moving average of $19.96 and a two-hundred day moving average of $18.80. Resources Connection, Inc. has a 52-week low of $15.65 and a 52-week high of $23.18. The company has a debt-to-equity ratio of 0.14, a quick ratio of 2.48 and a current ratio of 2.48.
Resources Connection (NASDAQ:RGP – Get Rating) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.41 by $0.19. Resources Connection had a return on equity of 18.62% and a net margin of 8.34%. The business had revenue of $217.03 million during the quarter, compared to analysts' expectations of $212.81 million. As a group, equities research analysts expect that Resources Connection, Inc. will post 1.68 earnings per share for the current fiscal year.
Resources Connection Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 21st. Investors of record on Wednesday, August 24th were issued a $0.14 dividend. The ex-dividend date was Tuesday, August 23rd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 3.10%. Resources Connection's dividend payout ratio is 28.00%.
About Resources Connection
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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.
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