234,788 Shares in Resources Connection, Inc. (NASDAQ:RGP) Purchased by Brandes Investment Partners LP

Brandes Investment Partners LP acquired a new position in Resources Connection, Inc. (NASDAQ:RGP) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 234,788 shares of the company’s stock, valued at approximately $2,590,000. Brandes Investment Partners LP owned 0.70% of Resources Connection at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Resources Connection by 1.3% in 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. AQR Capital Management LLC grew its position in Resources Connection by 18.8% in the 2nd quarter. AQR Capital Management LLC now owns 836,558 shares of the company’s stock valued at $9,236,000 after acquiring an additional 132,586 shares during the last quarter. Millennium Management LLC increased its stake in Resources Connection by 438.5% in the second quarter. Millennium Management LLC now owns 537,743 shares of the company’s stock worth $5,937,000 after purchasing an additional 437,878 shares during the period. Circumference Group LLC bought a new stake in shares of Resources Connection during the fourth quarter worth $6,376,000. Finally, Tieton Capital Management LLC purchased a new stake in shares of Resources Connection during the second quarter valued at $4,452,000. Institutional investors own 93.23% of the company’s stock.

Resources Connection Stock Performance

NASDAQ:RGP opened at $9.70 on Tuesday. The company’s 50-day simple moving average is $10.28 and its 200-day simple moving average is $10.96. Resources Connection, Inc. has a fifty-two week low of $9.26 and a fifty-two week high of $14.97. The stock has a market capitalization of $327.93 million, a P/E ratio of 14.70, a P/E/G ratio of 1.42 and a beta of 0.65.

Resources Connection (NASDAQ:RGP) last issued its quarterly earnings results on Thursday, July 18th. The company reported $0.28 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.18. The business had revenue of $148.20 million for the quarter, compared to analyst estimates of $140.59 million. Resources Connection had a return on equity of 6.19% and a net margin of 3.32%. The company’s revenue was down 19.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.39 earnings per share. On average, research analysts forecast that Resources Connection, Inc. will post 0.45 EPS for the current year.

Resources Connection Announces Dividend

The business also recently disclosed 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. The ex-dividend date was Friday, August 23rd. This represents a $0.56 annualized dividend and a dividend yield of 5.77%. Resources Connection’s payout ratio is currently 84.85%.

Insider Activity

In related news, CFO Jennifer Y. Ryu sold 11,650 shares of the stock in a transaction that occurred 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 owns 84,481 shares in the company, valued at approximately $950,411.25. The sale was disclosed in a filing with the SEC, which is available through this link. In other Resources Connection news, CFO Jennifer Y. Ryu sold 11,650 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $11.25, for a total transaction of $131,062.50. Following the sale, the chief financial officer now directly owns 84,481 shares of the company’s stock, valued at approximately $950,411.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Roger D. Carlile acquired 25,000 shares of the firm’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 acquisition, the director now owns 25,000 shares in the company, valued at $281,250. The disclosure for this purchase can be found here. Corporate insiders own 7.36% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on RGP shares. JPMorgan Chase & Co. decreased their price objective on shares of Resources Connection from $12.00 to $11.00 and set an “underweight” rating for the company in a report on Tuesday, July 23rd. StockNews.com downgraded shares of Resources Connection from a “buy” rating to a “hold” rating in a research note on Saturday, July 27th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Resources Connection has an average rating of “Hold” and a consensus 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.