Resources Connection, Inc. (NASDAQ:RGP) Shares Acquired by Quest Partners LLC

Quest Partners LLC raised its position in Resources Connection, Inc. (NASDAQ:RGP - Free Report) by 35,178.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 105,131 shares of the company's stock after buying an additional 104,833 shares during the period. Quest Partners LLC owned about 0.31% of Resources Connection worth $1,020,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of RGP. Millennium Management LLC raised its position in Resources Connection by 438.5% during the second quarter. Millennium Management LLC now owns 537,743 shares of the company's stock worth $5,937,000 after acquiring an additional 437,878 shares during the period. Tieton Capital Management LLC acquired a new position in shares of Resources Connection during the 2nd quarter worth about $4,452,000. Invenomic Capital Management LP purchased a new position in Resources Connection in the 1st quarter valued at about $3,855,000. Brandes Investment Partners LP acquired a new stake in Resources Connection in the 2nd quarter worth about $2,590,000. Finally, Deprince Race & Zollo Inc. purchased a new stake in Resources Connection during the 2nd quarter worth approximately $2,522,000. Institutional investors and hedge funds own 93.23% of the company's stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut Resources Connection from a "buy" rating to a "hold" rating in a report on Saturday, July 27th.

Resources Connection Trading Up 0.4 %

Shares of RGP opened at $8.29 on Thursday. The company's 50 day simple moving average is $8.77 and its 200-day simple moving average is $10.04. Resources Connection, Inc. has a 12-month low of $7.90 and a 12-month high of $14.63. The firm has a market cap of $277.47 million, a PE ratio of 23.03, a price-to-earnings-growth ratio of 3.34 and a beta of 0.67.

Resources Connection (NASDAQ:RGP - Get Free Report) last issued its earnings results on Tuesday, October 1st. The company reported ($0.17) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.04 by ($0.21). The business had revenue of $136.94 million for the quarter, compared to analysts' expectations of $137.82 million. Resources Connection had a return on equity of 3.69% and a net margin of 2.04%. The business's quarterly revenue was down 19.5% on a year-over-year basis. During the same period last year, the company posted $0.14 earnings per share. As a group, equities research analysts forecast that Resources Connection, Inc. will post 0.16 EPS for the current fiscal year.

Resources Connection Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.14 per share. The ex-dividend date is Friday, November 15th. This represents a $0.56 annualized dividend and a dividend yield of 6.76%. Resources Connection's dividend payout ratio is currently 155.56%.

Resources Connection Company Profile

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.