Quest Partners LLC Has $1.02 Million Stock Holdings in Resources Connection, Inc. (NASDAQ:RGP)

Quest Partners LLC grew its holdings in Resources Connection, Inc. (NASDAQ:RGP) by 35,178.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 105,131 shares of the company’s stock after buying an additional 104,833 shares during the quarter. Quest Partners LLC’s holdings in Resources Connection were worth $1,020,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in RGP. Nisa Investment Advisors LLC raised its stake in shares of Resources Connection by 66.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,554 shares of the company’s stock valued at $28,000 after buying an additional 1,019 shares in the last quarter. CWM LLC raised its stake in shares of Resources Connection by 883.5% in the 2nd quarter. CWM LLC now owns 3,393 shares of the company’s stock valued at $37,000 after buying an additional 3,048 shares in the last quarter. Mather Group LLC. acquired a new position in shares of Resources Connection in the 2nd quarter valued at $44,000. Point72 DIFC Ltd acquired a new position in shares of Resources Connection in the 2nd quarter valued at $59,000. Finally, nVerses Capital LLC acquired a new position in shares of Resources Connection in the 3rd quarter valued at $60,000. Institutional investors and hedge funds own 93.23% of the company’s stock.

Resources Connection Stock Performance

RGP opened at $8.29 on Thursday. The firm’s 50-day simple moving average is $8.77 and its 200-day simple moving average is $10.04. Resources Connection, Inc. has a twelve month low of $7.90 and a twelve month high of $14.63. The firm has a market cap of $277.47 million, a price-to-earnings ratio of 23.03, a PEG ratio of 3.37 and a beta of 0.67.

Resources Connection (NASDAQ:RGP) last posted its earnings results on Tuesday, October 1st. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate 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 previous year, the company posted $0.14 EPS. The firm’s revenue for the quarter 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 fiscal year.

Resources Connection Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 6.76%. The ex-dividend date is Friday, November 15th. Resources Connection’s dividend payout ratio is currently 155.56%.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Resources Connection from a “buy” rating to a “hold” rating in a report on Saturday, July 27th.

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.