Resources Connection, Inc. (NASDAQ:RGP) Stock Position Raised by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. grew its stake in shares of Resources Connection, Inc. (NASDAQ:RGP) by 53.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 394,820 shares of the company’s stock after purchasing an additional 137,604 shares during the period. Jacobs Levy Equity Management Inc. owned about 1.17% of Resources Connection worth $5,196,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Public Employees Retirement System of Ohio grew its holdings in shares of Resources Connection by 62.6% during the first quarter. Public Employees Retirement System of Ohio now owns 44,611 shares of the company’s stock valued at $587,000 after buying an additional 17,181 shares in the last quarter. EntryPoint Capital LLC acquired a new position in Resources Connection in the 1st quarter valued at approximately $119,000. UniSuper Management Pty Ltd purchased a new stake in Resources Connection in the 1st quarter worth approximately $463,000. Vanguard Group Inc. boosted its stake in shares of Resources Connection by 1.3% during the 1st quarter. Vanguard Group Inc. now owns 2,419,297 shares of the company’s stock valued at $31,838,000 after buying an additional 30,393 shares during the period. Finally, State Board of Administration of Florida Retirement System grew its holdings in shares of Resources Connection by 21.2% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 48,381 shares of the company’s stock valued at $637,000 after acquiring an additional 8,453 shares in the last quarter. Institutional investors and hedge funds own 93.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RGP. JPMorgan Chase & Co. dropped 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. Robert W. Baird decreased their target price 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. Noble Financial began coverage on shares of Resources Connection in a report on Wednesday, May 29th. They set an “outperform” rating and a $15.00 price target on the stock. Finally, StockNews.com cut shares of Resources Connection from a “buy” rating to a “hold” rating in a report on Saturday. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $13.00.

Resources Connection Trading Up 0.7 %

Resources Connection stock traded up $0.08 during trading hours on Wednesday, reaching $12.02. 91,132 shares of the company were exchanged, compared to its average volume of 492,533. Resources Connection, Inc. has a 12 month low of $9.70 and a 12 month high of $16.35. The stock has a 50-day moving average of $10.87 and a 200 day moving average of $11.99. The firm has a market cap of $403.39 million, a price-to-earnings ratio of 18.09, a PEG ratio of 1.17 and a beta of 0.67.

Resources Connection (NASDAQ:RGP) last posted its quarterly earnings data on Thursday, July 18th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.18. The business had revenue of $148.20 million during the quarter, compared to the consensus estimate of $140.59 million. Resources Connection had a net margin of 3.32% and a return on equity of 6.19%. Resources Connection’s quarterly revenue was down 19.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.39 EPS. As a group, research analysts forecast that Resources Connection, Inc. will post 0.67 EPS for the current year.

Resources Connection Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Shareholders of record on Friday, August 23rd will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a yield of 4.66%. The ex-dividend date of this dividend is Friday, August 23rd. Resources Connection’s dividend payout ratio (DPR) is presently 84.85%.

Insider Activity at Resources Connection

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

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.