Resources Connection, Inc. (NASDAQ:RGP) Shares Sold by Prosperity Consulting Group LLC

Prosperity Consulting Group LLC lowered its holdings in shares of Resources Connection, Inc. (NASDAQ:RGP) by 33.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,477 shares of the company’s stock after selling 9,352 shares during the period. Prosperity Consulting Group LLC owned 0.05% of Resources Connection worth $204,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Nisa Investment Advisors LLC raised its position in Resources Connection by 66.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,554 shares of the company’s stock worth $28,000 after buying an additional 1,019 shares during the last quarter. TD Asset Management Inc raised its holdings in Resources Connection by 1.4% during the fourth quarter. TD Asset Management Inc now owns 89,400 shares of the company’s stock worth $1,267,000 after purchasing an additional 1,200 shares in the last quarter. Victory Capital Management Inc. lifted its position in Resources Connection by 13.8% in the second quarter. Victory Capital Management Inc. now owns 13,623 shares of the company’s stock valued at $150,000 after purchasing an additional 1,649 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in Resources Connection by 15.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 15,595 shares of the company’s stock valued at $172,000 after purchasing an additional 2,083 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in Resources Connection by 16.5% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 16,573 shares of the company’s stock worth $218,000 after purchasing an additional 2,353 shares during the period. 93.23% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Resources Connection

In related news, Director Roger D. Carlile purchased 25,000 shares of the business’s stock in a transaction dated Monday, July 22nd. The stock was bought at an average cost of $11.25 per share, with a total value of $281,250.00. Following the completion of the acquisition, the director now directly owns 25,000 shares in the company, valued at approximately $281,250. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CFO Jennifer Y. Ryu sold 11,650 shares of the company’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 Securities & Exchange Commission, which is accessible through this link. Also, Director Roger D. Carlile bought 25,000 shares of the stock in a transaction on Monday, July 22nd. The stock was purchased at an average cost of $11.25 per share, with a total value of $281,250.00. Following the completion of the purchase, the director now directly owns 25,000 shares in the company, valued at approximately $281,250. The disclosure for this purchase can be found here. 7.36% of the stock is owned by insiders.

Resources Connection Stock Performance

Resources Connection stock opened at $10.01 on Monday. The firm has a market capitalization of $335.03 million, a price-to-earnings ratio of 15.17, a price-to-earnings-growth ratio of 0.99 and a beta of 0.65. Resources Connection, Inc. has a fifty-two week low of $9.44 and a fifty-two week high of $15.44. The stock’s fifty day moving average is $10.46 and its two-hundred day moving average is $11.26.

Resources Connection (NASDAQ:RGP) last posted its earnings results on Thursday, July 18th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.18. Resources Connection had a net margin of 3.32% and a return on equity of 6.19%. The firm had revenue of $148.20 million during the quarter, compared to the consensus estimate of $140.59 million. During the same period last year, the firm posted $0.39 EPS. The firm’s revenue for the quarter was down 19.7% on a year-over-year basis. As a group, sell-side analysts forecast that Resources Connection, Inc. will post 0.67 EPS for the current fiscal year.

Resources Connection Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 23rd will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 5.59%. The ex-dividend date of this dividend is Friday, August 23rd. Resources Connection’s payout ratio is currently 84.85%.

Analyst Ratings Changes

A number of analysts recently weighed in on RGP shares. StockNews.com downgraded Resources Connection from a “buy” rating to a “hold” rating in a research note on Saturday, July 27th. JPMorgan Chase & Co. decreased their target price on shares of Resources Connection from $12.00 to $11.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 23rd. Finally, Noble Financial started coverage on shares of Resources Connection in a report on Wednesday, May 29th. They issued an “outperform” rating and a $15.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Resources Connection has a consensus rating of “Hold” and an average price target 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.