Squarepoint Ops LLC Buys Shares of 29,617 Resources Connection, Inc. (NASDAQ:RGP)

Squarepoint Ops LLC bought a new stake in Resources Connection, Inc. (NASDAQ:RGP) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 29,617 shares of the company’s stock, valued at approximately $327,000.

Other large investors also recently bought and sold shares of the company. Russell Investments Group Ltd. boosted its stake in shares of Resources Connection by 113.8% during the first quarter. Russell Investments Group Ltd. now owns 130,769 shares of the company’s stock valued at $1,721,000 after acquiring an additional 69,594 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its stake in shares of Resources Connection by 53.5% during the first quarter. Jacobs Levy Equity Management Inc. now owns 394,820 shares of the company’s stock valued at $5,196,000 after acquiring an additional 137,604 shares during the last quarter. Prosperity Consulting Group LLC acquired a new stake in shares of Resources Connection during the first quarter valued at $366,000. Boston Partners acquired a new stake in shares of Resources Connection during the first quarter valued at $175,000. Finally, Vanguard Group Inc. boosted its stake in shares of Resources Connection by 1.3% during the first quarter. Vanguard Group Inc. now owns 2,419,297 shares of the company’s stock valued at $31,838,000 after acquiring an additional 30,393 shares during the last quarter. Institutional investors and hedge funds own 93.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on RGP shares. JPMorgan Chase & Co. reduced their target price on Resources Connection from $12.00 to $11.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 23rd. StockNews.com lowered Resources Connection from a “buy” rating to a “hold” rating in a research note on Saturday, July 27th.

Insider Buying and Selling

In other news, CFO Jennifer Y. Ryu sold 11,650 shares of Resources Connection stock in a transaction on Wednesday, July 24th. The stock was 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 in the company, valued at approximately $950,411.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Resources Connection news, Director Roger D. Carlile purchased 25,000 shares of the stock in a transaction dated Monday, July 22nd. The shares were acquired at an average price of $11.25 per share, for a total transaction of $281,250.00. Following the completion of the acquisition, the director now owns 25,000 shares of the company’s stock, valued at $281,250. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jennifer Y. Ryu sold 11,650 shares of Resources Connection stock in a transaction 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 sale, the chief financial officer now directly owns 84,481 shares of the company’s stock, valued at approximately $950,411.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 3.39% of the company’s stock.

Resources Connection Price Performance

Shares of Resources Connection stock opened at $8.36 on Friday. The business’s fifty day moving average price is $9.73 and its two-hundred day moving average price is $10.70. The company has a market capitalization of $279.81 million, a P/E ratio of 23.22, a PEG ratio of 3.37 and a beta of 0.65. Resources Connection, Inc. has a 1-year low of $8.13 and a 1-year high of $14.63.

Resources Connection (NASDAQ:RGP) last posted its quarterly earnings data 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 firm had revenue of $136.94 million during the quarter, compared to the consensus estimate of $137.82 million. During the same period in the prior year, the firm posted $0.14 EPS. The firm’s quarterly revenue was down 19.5% on a year-over-year basis. On average, research analysts expect that Resources Connection, Inc. will post 0.16 earnings per share for the current fiscal year.

Resources Connection Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 23rd were issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 6.70%. The ex-dividend date of this dividend was Friday, August 23rd. Resources Connection’s payout ratio is 155.56%.

Resources Connection 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.