Fmr LLC Grows Stock Position in Resources Connection, Inc. (NASDAQ:RGP)

Fmr LLC raised its position in Resources Connection, Inc. (NASDAQ:RGP) by 403.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,408 shares of the company’s stock after acquiring an additional 13,950 shares during the quarter. Fmr LLC’s holdings in Resources Connection were worth $169,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the company. Millennium Management LLC boosted its stake in shares of 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 purchasing an additional 437,878 shares during the period. Tieton Capital Management LLC acquired a new position in Resources Connection in the 2nd quarter worth $4,452,000. Brandes Investment Partners LP purchased a new position in Resources Connection in the 2nd quarter valued at about $2,590,000. Deprince Race & Zollo Inc. acquired a new stake in shares of Resources Connection during the second quarter valued at about $2,522,000. Finally, Cubist Systematic Strategies LLC grew its stake in shares of Resources Connection by 72,156.5% during the second quarter. Cubist Systematic Strategies LLC now owns 187,867 shares of the company’s stock valued at $2,074,000 after acquiring an additional 187,607 shares in the last quarter. Hedge funds and other institutional investors own 93.23% of the company’s stock.

Resources Connection Stock Performance

NASDAQ:RGP opened at $8.18 on Friday. The stock has a market cap of $273.79 million, a price-to-earnings ratio of 22.72, a price-to-earnings-growth ratio of 3.48 and a beta of 0.68. Resources Connection, Inc. has a one year low of $7.90 and a one year high of $14.50. The business’s 50-day simple moving average is $8.44 and its 200 day simple moving average is $9.62.

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

Resources Connection Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were given a dividend of $0.14 per share. The ex-dividend date was Friday, November 15th. This represents a $0.56 annualized dividend and a dividend yield of 6.85%. 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.