nVerses Capital LLC Invests $60,000 in Resources Connection, Inc. (NASDAQ:RGP)

nVerses Capital LLC acquired a new stake in Resources Connection, Inc. (NASDAQ:RGP) during the third quarter, according to its most recent 13F filing with the SEC. The fund acquired 6,200 shares of the company’s stock, valued at approximately $60,000.

Several other institutional investors have also added to or reduced their stakes in RGP. Nisa Investment Advisors LLC raised its position in shares of Resources Connection by 66.4% in the second quarter. Nisa Investment Advisors LLC now owns 2,554 shares of the company’s stock valued at $28,000 after purchasing an additional 1,019 shares during the period. CWM LLC grew its stake in 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. purchased a new position in Resources Connection in the 2nd quarter valued at approximately $44,000. Point72 DIFC Ltd bought a new stake in Resources Connection during the 2nd quarter valued at $59,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Resources Connection by 972.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 8,504 shares of the company’s stock worth $112,000 after acquiring an additional 7,711 shares during the period. 93.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. StockNews.com lowered Resources Connection from a “buy” rating to a “hold” rating in a research note on Saturday, July 27th. JPMorgan Chase & Co. decreased their price target 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.

Insiders Place Their Bets

In other news, CFO Jennifer Y. Ryu sold 11,650 shares of the firm’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $11.25, for a total transaction of $131,062.50. Following the sale, the chief financial officer now owns 84,481 shares in the company, valued at approximately $950,411.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 7.36% of the company’s stock.

Resources Connection Stock Performance

Shares of RGP stock opened at $8.43 on Tuesday. The company has a market capitalization of $284.99 million, a PE ratio of 12.77, a price-to-earnings-growth ratio of 3.35 and a beta of 0.65. Resources Connection, Inc. has a 52-week low of $8.13 and a 52-week high of $14.63. The business’s fifty day moving average is $9.50 and its 200 day moving average is $10.49.

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 the consensus estimate of $0.04 by ($0.21). The business had revenue of $136.94 million during the quarter, compared to analysts’ expectations of $137.82 million. Resources Connection had a net margin of 2.04% and a return on equity of 3.69%. The business’s revenue was down 19.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.14 EPS. On average, sell-side analysts forecast that Resources Connection, Inc. will post 0.16 EPS for the current fiscal year.

Resources Connection Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 23rd were given a dividend of $0.14 per share. The ex-dividend date was Friday, August 23rd. This represents a $0.56 annualized dividend and a yield of 6.64%. Resources Connection’s payout ratio is presently 84.85%.

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.