Victory Capital Management Inc. Increases Stock Position in Resources Connection, Inc. (NASDAQ:RGP)

Victory Capital Management Inc. boosted its stake in shares of Resources Connection, Inc. (NASDAQ:RGP) by 170.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,902 shares of the company’s stock after buying an additional 23,279 shares during the quarter. Victory Capital Management Inc. owned 0.11% of Resources Connection worth $358,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. nVerses Capital LLC purchased a new position in shares of Resources Connection in the third quarter valued at approximately $60,000. Atria Investments Inc boosted its stake in shares of Resources Connection by 9.6% in the third quarter. Atria Investments Inc now owns 17,723 shares of the company’s stock valued at $172,000 after purchasing an additional 1,547 shares during the period. 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. Horrell Capital Management Inc. boosted its stake in shares of Resources Connection by 16.4% in the third quarter. Horrell Capital Management Inc. now owns 815,000 shares of the company’s stock valued at $7,906,000 after purchasing an additional 115,000 shares during the period. Finally, Boston Partners purchased a new position in shares of Resources Connection in the first quarter valued at approximately $175,000. Hedge funds and other institutional investors own 93.23% of the company’s stock.

Resources Connection Stock Performance

NASDAQ RGP opened at $8.44 on Friday. The firm has a 50 day simple moving average of $8.56 and a 200-day simple moving average of $9.91. Resources Connection, Inc. has a one year low of $7.90 and a one year high of $14.63. The firm has a market cap of $282.49 million, a price-to-earnings ratio of 23.44, a PEG ratio of 3.41 and a beta of 0.67.

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

Resources Connection Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be issued a $0.14 dividend. The ex-dividend date is Friday, November 15th. This represents a $0.56 annualized dividend and a yield of 6.64%. Resources Connection’s dividend payout ratio (DPR) 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.