Mackenzie Financial Corp Sells 4,082 Shares of Resources Connection, Inc. (NASDAQ:RGP)

Mackenzie Financial Corp lowered its position in shares of Resources Connection, Inc. (NASDAQ:RGP) by 20.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,606 shares of the company’s stock after selling 4,082 shares during the quarter. Mackenzie Financial Corp’s holdings in Resources Connection were worth $172,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Nisa Investment Advisors LLC boosted its stake in Resources Connection by 66.4% during the second quarter. Nisa Investment Advisors LLC now owns 2,554 shares of the company’s stock worth $28,000 after acquiring an additional 1,019 shares in the last quarter. TD Asset Management Inc boosted its position in shares of Resources Connection by 1.4% during the 4th quarter. TD Asset Management Inc now owns 89,400 shares of the company’s stock worth $1,267,000 after purchasing an additional 1,200 shares in the last quarter. Victory Capital Management Inc. grew 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 buying an additional 1,649 shares during the period. Harbor Capital Advisors Inc. increased its position in Resources Connection by 15.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 15,595 shares of the company’s stock valued at $172,000 after buying an additional 2,083 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in Resources Connection by 16.5% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 16,573 shares of the company’s stock worth $218,000 after buying an additional 2,353 shares during the period. 93.23% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on RGP shares. StockNews.com lowered Resources Connection from a “buy” rating to a “hold” rating in a research report on Saturday, July 27th. JPMorgan Chase & Co. lowered their price objective on shares of Resources Connection from $12.00 to $11.00 and set an “underweight” rating on the stock in a report on Tuesday, July 23rd.

Resources Connection Stock Performance

Shares of Resources Connection stock opened at $8.22 on Tuesday. The stock has a market capitalization of $277.72 million, a P/E ratio of 12.68, a P/E/G ratio of 1.25 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 stock’s 50-day simple moving average is $10.06 and its 200 day simple moving average is $10.83.

Resources Connection (NASDAQ:RGP) last announced 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 company 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%. Resources Connection’s revenue for the quarter was down 19.5% compared to the same quarter last year. During the same quarter last year, the firm posted $0.14 earnings per share. Equities research analysts forecast that Resources Connection, Inc. will post 0.45 EPS for the current fiscal year.

Resources Connection Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 23rd were paid a dividend of $0.14 per share. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $0.56 annualized dividend and a dividend yield of 6.82%. 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 directly owns 84,481 shares of the company’s stock, valued at $950,411.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Roger D. Carlile purchased 25,000 shares of Resources Connection stock in a transaction dated Monday, July 22nd. The stock was purchased at an average cost of $11.25 per share, for a total transaction of $281,250.00. Following the completion of the purchase, the director now directly owns 25,000 shares of the company’s stock, valued at $281,250. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Jennifer Y. Ryu sold 11,650 shares of Resources Connection stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $11.25, for a total transaction of $131,062.50. Following the completion of the sale, the chief financial officer now directly owns 84,481 shares of the company’s stock, valued at approximately $950,411.25. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 7.36% of the stock is owned by corporate insiders.

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.