Resources Connection, Inc. (NASDAQ:RGP) Shares Acquired by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its stake in Resources Connection, Inc. (NASDAQ:RGP) by 38.3% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 194,389 shares of the company’s stock after acquiring an additional 53,882 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.58% of Resources Connection worth $2,754,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of RGP. Charles Schwab Investment Management Inc. grew its holdings in shares of Resources Connection by 6.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 535,277 shares of the company’s stock valued at $7,981,000 after buying an additional 32,235 shares in the last quarter. Alps Advisors Inc. purchased a new position in Resources Connection in the third quarter valued at about $536,000. Barclays PLC grew its stake in Resources Connection by 42.4% in the third quarter. Barclays PLC now owns 37,166 shares of the company’s stock valued at $555,000 after purchasing an additional 11,061 shares in the last quarter. AQR Capital Management LLC grew its stake in Resources Connection by 41.1% in the third quarter. AQR Capital Management LLC now owns 555,153 shares of the company’s stock valued at $8,277,000 after purchasing an additional 161,632 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Resources Connection by 53.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,735 shares of the company’s stock valued at $175,000 after purchasing an additional 4,073 shares in the last quarter. 93.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded Resources Connection from a “buy” rating to a “hold” rating in a research note on Sunday, February 25th.

Resources Connection Price Performance

Shares of NASDAQ RGP opened at $12.60 on Wednesday. The business’s 50-day moving average price is $13.37 and its two-hundred day moving average price is $13.76. Resources Connection, Inc. has a one year low of $12.50 and a one year high of $17.24. The company has a market capitalization of $422.23 million, a P/E ratio of 15.95, a price-to-earnings-growth ratio of 1.54 and a beta of 0.61.

Resources Connection (NASDAQ:RGP) last announced its quarterly earnings results on Wednesday, January 3rd. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.17 by $0.11. Resources Connection had a return on equity of 8.14% and a net margin of 3.80%. The company had revenue of $163.13 million during the quarter, compared to analysts’ expectations of $161.92 million. During the same quarter in the previous year, the firm earned $0.52 earnings per share. The business’s quarterly revenue was down 18.6% compared to the same quarter last year. On average, equities analysts anticipate that Resources Connection, Inc. will post 0.57 EPS for the current year.

Resources Connection Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, March 14th. Shareholders of record on Thursday, February 15th were given a $0.14 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 4.44%. Resources Connection’s dividend payout ratio is currently 70.89%.

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.