Marshall Wace LLP Takes Position in Resources Connection, Inc. (NASDAQ:RGP)

Marshall Wace LLP bought a new position in Resources Connection, Inc. (NASDAQ:RGP) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 36,764 shares of the company’s stock, valued at approximately $406,000. Marshall Wace LLP owned approximately 0.11% of Resources Connection at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Nisa Investment Advisors LLC increased its position in Resources Connection by 66.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,554 shares of the company’s stock valued at $28,000 after acquiring an additional 1,019 shares in the last quarter. Victory Capital Management Inc. increased its holdings in shares of Resources Connection by 13.8% in the second quarter. Victory Capital Management Inc. now owns 13,623 shares of the company’s stock valued at $150,000 after purchasing an additional 1,649 shares in the last quarter. Harbor Capital Advisors Inc. raised 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 worth $172,000 after purchasing an additional 2,083 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings 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 in the last quarter. Finally, Quarry LP bought a new position in Resources Connection in the 4th quarter valued at $39,000. 93.23% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on RGP. JPMorgan Chase & Co. dropped their target price on Resources Connection from $12.00 to $11.00 and set an “underweight” rating for the company in a research report on Tuesday, July 23rd. StockNews.com cut Resources Connection from a “buy” rating to a “hold” rating in a report on Saturday, July 27th.

Resources Connection Stock Performance

Shares of Resources Connection stock opened at $8.26 on Friday. The firm has a fifty day moving average of $9.78 and a two-hundred day moving average of $10.73. The stock has a market capitalization of $279.25 million, a price-to-earnings ratio of 12.52, a PEG 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.

Resources Connection (NASDAQ:RGP) last released its quarterly earnings data on Tuesday, October 1st. The company reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.21). The company had revenue of $136.94 million during the quarter, compared to the consensus estimate of $137.82 million. Resources Connection had a net margin of 2.04% and a return on equity of 3.69%. The company’s revenue for the quarter was down 19.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.14 EPS. As a group, research analysts forecast that Resources Connection, Inc. will post 0.45 EPS for the current fiscal year.

Resources Connection Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 23rd were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 6.78%. The ex-dividend date of this dividend was Friday, August 23rd. Resources Connection’s dividend payout ratio is currently 84.85%.

Insiders Place Their Bets

In related news, CFO Jennifer Y. Ryu sold 11,650 shares of the firm’s stock in a transaction 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 sale, the chief financial officer now 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 sale was disclosed in a filing with the SEC, which can be accessed through 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 bought at an average price of $11.25 per share, for a total transaction of $281,250.00. Following the completion of the acquisition, the director now directly owns 25,000 shares of the company’s stock, valued at $281,250. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jennifer Y. Ryu sold 11,650 shares of the stock in a transaction 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 sale, 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 position. The disclosure for this sale can be found here. Company insiders own 7.36% of the company’s stock.

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.