Creative Planning Has $369,000 Stock Position in Resources Connection, Inc. (NASDAQ:RGP)

Creative Planning cut its holdings in Resources Connection, Inc. (NASDAQ:RGP) by 7.6% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 38,092 shares of the company’s stock after selling 3,138 shares during the quarter. Creative Planning’s holdings in Resources Connection were worth $369,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of RGP. Millennium Management LLC boosted 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 valued at $5,937,000 after buying an additional 437,878 shares in the last quarter. Tieton Capital Management LLC acquired a new stake in Resources Connection in the second quarter valued at about $4,452,000. Invenomic Capital Management LP acquired a new stake in Resources Connection in the first quarter valued at about $3,855,000. Brandes Investment Partners LP acquired a new stake in Resources Connection in the second quarter valued at about $2,590,000. Finally, Deprince Race & Zollo Inc. acquired a new stake in Resources Connection in the second quarter valued at about $2,522,000. 93.23% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts have recently commented on the company. JPMorgan Chase & Co. cut their price target on Resources Connection from $12.00 to $11.00 and set an “underweight” rating on the stock in a research note 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.

Resources Connection Price Performance

Shares of RGP opened at $8.88 on Friday. Resources Connection, Inc. has a 1 year low of $7.90 and a 1 year high of $14.63. The company has a market capitalization of $297.22 million, a price-to-earnings ratio of 24.67, a price-to-earnings-growth ratio of 3.23 and a beta of 0.67. The business has a 50-day moving average of $9.05 and a 200-day moving average of $10.22.

Resources Connection (NASDAQ:RGP) last issued its quarterly earnings data on Tuesday, October 1st. The company reported ($0.17) earnings per share (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 company had revenue of $136.94 million for the quarter, compared to the consensus estimate of $137.82 million. During the same quarter last year, the business earned $0.14 earnings per share. Resources Connection’s revenue was down 19.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Resources Connection, Inc. will post 0.16 EPS for the current year.

Resources Connection Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a dividend of $0.14 per share. The ex-dividend date is Friday, November 15th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 6.31%. Resources Connection’s dividend payout ratio (DPR) is 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.