BNP Paribas Financial Markets Buys 85,472 Shares of Resources Connection, Inc. (NASDAQ:RGP)

BNP Paribas Financial Markets grew its stake in shares of Resources Connection, Inc. (NASDAQ:RGP) by 263.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 117,903 shares of the company’s stock after buying an additional 85,472 shares during the period. BNP Paribas Financial Markets owned approximately 0.35% of Resources Connection worth $1,144,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. Nisa Investment Advisors LLC boosted its stake 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 acquiring an additional 1,019 shares during the last quarter. CWM LLC raised its holdings in Resources Connection by 883.5% in the second quarter. CWM LLC now owns 3,393 shares of the company’s stock worth $37,000 after purchasing an additional 3,048 shares during the period. Point72 DIFC Ltd acquired a new stake in Resources Connection in the second quarter worth $59,000. nVerses Capital LLC bought a new position in shares of Resources Connection during the third quarter worth $60,000. Finally, Intech Investment Management LLC acquired a new position in shares of Resources Connection in the 3rd quarter valued at $106,000. 93.23% of the stock is currently owned by institutional investors and hedge funds.

Resources Connection Stock Performance

Shares of Resources Connection stock opened at $8.57 on Tuesday. The stock’s fifty day simple moving average is $8.46 and its 200 day simple moving average is $9.79. The company has a market capitalization of $286.85 million, a PE ratio of 23.81, a PEG ratio of 3.46 and a beta of 0.68. Resources Connection, Inc. has a 12 month low of $7.90 and a 12 month high of $14.63.

Resources Connection (NASDAQ:RGP) last released its quarterly earnings results on Tuesday, October 1st. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.21). Resources Connection had a return on equity of 3.69% and a net margin of 2.04%. The business had revenue of $136.94 million for the quarter, compared to analyst estimates of $137.82 million. During the same period in the prior year, the business earned $0.14 EPS. The company’s revenue for the quarter was down 19.5% compared to the same quarter last year. Analysts predict that Resources Connection, Inc. will post 0.16 EPS for the current fiscal year.

Resources Connection Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be issued a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 6.53%. The ex-dividend date is Friday, November 15th. Resources Connection’s dividend payout ratio (DPR) is presently 155.56%.

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.