Resources Connection, Inc. (NASDAQ:RGP) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC grew its position in Resources Connection, Inc. (NASDAQ:RGP) by 3.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 784,529 shares of the company’s stock after buying an additional 23,943 shares during the period. Geode Capital Management LLC owned 2.34% of Resources Connection worth $7,611,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in RGP. Atria Investments Inc lifted its position in 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 buying an additional 1,547 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of Resources Connection by 13.8% in the 2nd quarter. Victory Capital Management Inc. now owns 13,623 shares of the company’s stock valued at $150,000 after acquiring an additional 1,649 shares during the period. Point72 DIFC Ltd lifted its holdings in shares of Resources Connection by 32.5% in the 3rd quarter. Point72 DIFC Ltd now owns 7,074 shares of the company’s stock worth $69,000 after acquiring an additional 1,735 shares during the last quarter. Public Employees Retirement System of Ohio boosted its position in shares of Resources Connection by 7.4% during the 3rd quarter. Public Employees Retirement System of Ohio now owns 52,957 shares of the company’s stock worth $514,000 after purchasing an additional 3,665 shares during the period. Finally, nVerses Capital LLC acquired a new stake in Resources Connection in the 3rd quarter valued at approximately $60,000. Institutional investors and hedge funds own 93.23% of the company’s stock.

Resources Connection Stock Up 2.2 %

Shares of NASDAQ RGP opened at $8.72 on Friday. The business’s 50 day moving average is $8.42 and its two-hundred day moving average is $9.47. Resources Connection, Inc. has a 52-week low of $7.90 and a 52-week high of $14.50. The firm has a market cap of $291.87 million, a price-to-earnings ratio of 24.22, a PEG ratio of 3.48 and a beta of 0.68.

Resources Connection (NASDAQ:RGP) last posted its quarterly earnings data on Tuesday, October 1st. The company reported ($0.17) earnings per share (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 firm had revenue of $136.94 million during the quarter, compared to analysts’ expectations of $137.82 million. During the same quarter in the prior year, the firm posted $0.14 EPS. Resources Connection’s quarterly revenue was down 19.5% compared to the same quarter last year. Analysts anticipate that Resources Connection, Inc. will post 0.16 EPS for the current fiscal year.

Resources Connection Announces Dividend

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

Resources Connection Company 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.