Barclays PLC Increases Position in Resources Connection, Inc. (NASDAQ:RGP)

Barclays PLC grew its holdings in Resources Connection, Inc. (NASDAQ:RGP) by 194.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 48,280 shares of the company’s stock after purchasing an additional 31,879 shares during the quarter. Barclays PLC owned about 0.14% of Resources Connection worth $468,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in RGP. Public Employees Retirement System of Ohio lifted its position in Resources Connection by 7.4% during the third quarter. Public Employees Retirement System of Ohio now owns 52,957 shares of the company’s stock worth $514,000 after buying an additional 3,665 shares in the last quarter. Quarry LP purchased a new position in shares of Resources Connection during the 3rd quarter worth $95,000. Point72 DIFC Ltd boosted its position in shares of Resources Connection by 32.5% during the 3rd quarter. Point72 DIFC Ltd now owns 7,074 shares of the company’s stock valued at $69,000 after acquiring an additional 1,735 shares during the last quarter. Jacobs Levy Equity Management Inc. boosted its position in shares of Resources Connection by 5.5% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 573,235 shares of the company’s stock valued at $5,560,000 after acquiring an additional 29,969 shares during the last quarter. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Resources Connection by 4.3% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 840,591 shares of the company’s stock valued at $8,154,000 after purchasing an additional 34,570 shares during the period. 93.23% of the stock is currently owned by institutional investors and hedge funds.

Resources Connection Price Performance

Shares of RGP stock opened at $8.72 on Friday. The company has a market capitalization of $291.87 million, a PE ratio of 24.22, a price-to-earnings-growth ratio of 3.48 and a beta of 0.68. The firm’s 50-day moving average is $8.42 and its two-hundred day moving average is $9.47. Resources Connection, Inc. has a 12 month low of $7.90 and a 12 month high of $14.50.

Resources Connection (NASDAQ:RGP) last released its quarterly earnings results on Tuesday, October 1st. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.21). The firm had revenue of $136.94 million for 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 firm’s quarterly revenue was down 19.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.14 EPS. Sell-side analysts forecast that Resources Connection, Inc. will post 0.16 EPS for the current year.

Resources Connection Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Friday, November 15th were paid a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 6.42%. The ex-dividend date was Friday, November 15th. Resources Connection’s dividend payout ratio (DPR) is presently 155.56%.

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.