Hancock Whitney Corp Boosts Holdings in Resources Connection, Inc. (NASDAQ:RGP)

Hancock Whitney Corp increased its stake in shares of Resources Connection, Inc. (NASDAQ:RGP) by 34.4% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 27,936 shares of the company’s stock after buying an additional 7,145 shares during the period. Hancock Whitney Corp owned about 0.08% of Resources Connection worth $368,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in RGP. Assenagon Asset Management S.A. increased its holdings in Resources Connection by 38.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 194,389 shares of the company’s stock worth $2,754,000 after buying an additional 53,882 shares during the last quarter. Louisiana State Employees Retirement System bought a new position in Resources Connection during the fourth quarter worth about $227,000. Mackenzie Financial Corp boosted its position in Resources Connection by 36.7% during the fourth quarter. Mackenzie Financial Corp now owns 17,042 shares of the company’s stock worth $241,000 after purchasing an additional 4,575 shares during the period. DGS Capital Management LLC bought a new position in Resources Connection during the fourth quarter worth about $149,000. Finally, State of New Jersey Common Pension Fund D boosted its position in Resources Connection by 15.5% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 182,798 shares of the company’s stock worth $2,590,000 after purchasing an additional 24,572 shares during the period. Hedge funds and other institutional investors own 93.23% of the company’s stock.

Insider Buying and Selling

In other news, Director Roger D. Carlile purchased 25,000 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were bought at an average price of $11.25 per share, for a total transaction of $281,250.00. Following the purchase, the director now directly owns 25,000 shares in the company, valued at approximately $281,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Roger D. Carlile purchased 25,000 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were bought at an average price of $11.25 per share, for a total transaction of $281,250.00. Following the purchase, the director now directly owns 25,000 shares in the company, valued at approximately $281,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Jennifer Y. Ryu sold 11,650 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $11.25, for a total value of $131,062.50. Following the completion of the transaction, the chief financial officer now directly owns 84,481 shares of the company’s stock, valued at approximately $950,411.25. The disclosure for this sale can be found here. 7.36% of the stock is currently owned by company insiders.

Resources Connection Price Performance

NASDAQ:RGP traded down $0.78 during trading hours on Thursday, hitting $11.15. The company had a trading volume of 167,369 shares, compared to its average volume of 492,952. The company has a market capitalization of $374.19 million, a PE ratio of 18.08, a price-to-earnings-growth ratio of 1.20 and a beta of 0.67. The stock has a 50-day moving average price of $10.89 and a 200 day moving average price of $11.99. Resources Connection, Inc. has a 52 week low of $9.70 and a 52 week high of $16.35.

Resources Connection (NASDAQ:RGP) last announced its earnings results on Thursday, July 18th. The company reported $0.28 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.18. Resources Connection had a net margin of 3.32% and a return on equity of 6.19%. The firm had revenue of $148.20 million for the quarter, compared to analysts’ expectations of $140.59 million. During the same quarter in the previous year, the business posted $0.39 EPS. The company’s quarterly revenue was down 19.7% on a year-over-year basis. Analysts anticipate that Resources Connection, Inc. will post 0.67 EPS for the current fiscal year.

Resources Connection Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 23rd will be paid a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 5.02%. The ex-dividend date is Friday, August 23rd. Resources Connection’s payout ratio is 84.85%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on RGP. StockNews.com lowered shares of Resources Connection from a “buy” rating to a “hold” rating in a research report on Saturday, July 27th. JPMorgan Chase & Co. cut their price objective on shares of Resources Connection from $12.00 to $11.00 and set an “underweight” rating for the company in a research report on Tuesday, July 23rd. Noble Financial began coverage on shares of Resources Connection in a research report on Wednesday, May 29th. They issued an “outperform” rating and a $15.00 price objective for the company. Finally, Robert W. Baird cut their price objective on shares of Resources Connection from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $13.00.

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.