AQR Capital Management LLC Acquires 132,586 Shares of Resources Connection, Inc. (NASDAQ:RGP)

AQR Capital Management LLC lifted its stake in shares of Resources Connection, Inc. (NASDAQ:RGP - Free Report) by 18.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 836,558 shares of the company's stock after purchasing an additional 132,586 shares during the quarter. AQR Capital Management LLC owned about 2.49% of Resources Connection worth $9,236,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. lifted its position in Resources Connection by 1.3% during the first quarter. Vanguard Group Inc. now owns 2,419,297 shares of the company's stock worth $31,838,000 after buying an additional 30,393 shares during the period. Circumference Group LLC acquired a new stake in Resources Connection in the fourth quarter valued at $6,376,000. Tieton Capital Management LLC acquired a new stake in shares of Resources Connection in the 2nd quarter valued at about $4,452,000. Jacobs Levy Equity Management Inc. lifted its holdings in Resources Connection by 53.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 394,820 shares of the company's stock worth $5,196,000 after buying an additional 137,604 shares during the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of Resources Connection by 17.7% in the 2nd quarter. Renaissance Technologies LLC now owns 321,114 shares of the company's stock valued at $3,545,000 after buying an additional 48,314 shares during the period. Hedge funds and other institutional investors own 93.23% of the company's stock.

Resources Connection Stock Performance

NASDAQ RGP traded up $0.01 on Thursday, reaching $8.36. The company's stock had a trading volume of 741,442 shares, compared to its average volume of 467,231. Resources Connection, Inc. has a twelve month low of $8.17 and a twelve month high of $14.72. The stock has a market cap of $282.63 million, a PE ratio of 12.65, a PEG ratio of 1.42 and a beta of 0.65. The firm's 50 day moving average is $10.19 and its two-hundred day moving average is $10.91.

Resources Connection (NASDAQ:RGP - Get Free Report) last posted its quarterly earnings data on Tuesday, October 1st. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.21). The company had revenue of $136.94 million for the quarter, compared to analyst estimates of $137.82 million. Resources Connection had a return on equity of 6.19% and a net margin of 3.32%. Resources Connection's quarterly revenue was down 19.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.14 EPS. Equities research analysts anticipate that Resources Connection, Inc. will post 0.45 EPS for the current fiscal year.

Resources Connection Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 23rd were paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 6.70%. The ex-dividend date of this dividend was Friday, August 23rd. Resources Connection's dividend payout ratio (DPR) is presently 84.85%.

Insider Activity

In related news, CFO Jennifer Y. Ryu sold 11,650 shares of the firm's stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $11.25, for a total transaction of $131,062.50. Following the transaction, the chief financial officer now owns 84,481 shares of the company's stock, valued at $950,411.25. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CFO Jennifer Y. Ryu sold 11,650 shares of the firm's stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $11.25, for a total value of $131,062.50. Following the transaction, the chief financial officer now directly owns 84,481 shares in the company, valued at approximately $950,411.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Roger D. Carlile acquired 25,000 shares of Resources Connection stock in a transaction dated Monday, July 22nd. The stock was acquired at an average cost of $11.25 per share, with a total value of $281,250.00. Following the completion of the transaction, the director now directly owns 25,000 shares of the company's stock, valued at approximately $281,250. The disclosure for this purchase can be found here. 7.36% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on RGP shares. JPMorgan Chase & Co. cut their target price on Resources Connection from $12.00 to $11.00 and set an "underweight" rating on the stock in a research note on Tuesday, July 23rd. StockNews.com lowered Resources Connection from a "buy" rating to a "hold" rating in a report on Saturday, July 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Resources Connection has an average rating of "Hold" and an average target price of $13.00.

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.