Squarepoint Ops LLC Takes $327,000 Position in Resources Connection, Inc. (NASDAQ:RGP)

Squarepoint Ops LLC bought a new stake in shares of Resources Connection, Inc. (NASDAQ:RGP) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 29,617 shares of the company’s stock, valued at approximately $327,000. Squarepoint Ops LLC owned 0.09% of Resources Connection at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in RGP. Tieton Capital Management LLC bought a new stake in shares of Resources Connection in the second quarter valued at about $4,452,000. Invenomic Capital Management LP bought a new stake in shares of Resources Connection in the first quarter valued at about $3,855,000. Cubist Systematic Strategies LLC raised its holdings in shares of Resources Connection by 72,156.5% in the second quarter. Cubist Systematic Strategies LLC now owns 187,867 shares of the company’s stock valued at $2,074,000 after acquiring an additional 187,607 shares in the last quarter. Jacobs Levy Equity Management Inc. raised its holdings in shares of Resources Connection by 53.5% in the first quarter. Jacobs Levy Equity Management Inc. now owns 394,820 shares of the company’s stock valued at $5,196,000 after acquiring an additional 137,604 shares in the last quarter. Finally, Bank of Montreal Can bought a new stake in shares of Resources Connection in the second quarter valued at about $1,280,000. 93.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have commented on RGP shares. StockNews.com downgraded shares of Resources Connection from a “buy” rating to a “hold” rating in a report on Saturday, July 27th. JPMorgan Chase & Co. reduced their target price on shares of Resources Connection from $12.00 to $11.00 and set an “underweight” rating for the company in a report on Tuesday, July 23rd.

Insider Buying and Selling at Resources Connection

In other Resources Connection 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 value of $131,062.50. Following the transaction, the chief financial officer now owns 84,481 shares in the company, valued at approximately $950,411.25. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Roger D. Carlile purchased 25,000 shares of Resources Connection stock in a transaction dated Monday, July 22nd. The shares were acquired at an average price of $11.25 per share, for a total transaction of $281,250.00. Following the acquisition, the director now directly owns 25,000 shares in the company, valued at approximately $281,250. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jennifer Y. Ryu sold 11,650 shares of Resources Connection stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $11.25, for a total value of $131,062.50. Following the transaction, the chief financial officer now owns 84,481 shares in the company, valued at approximately $950,411.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 3.39% of the stock is currently owned by insiders.

Resources Connection Price Performance

Shares of NASDAQ RGP opened at $8.36 on Friday. The stock has a market capitalization of $279.81 million, a price-to-earnings ratio of 23.22, a PEG ratio of 3.37 and a beta of 0.65. Resources Connection, Inc. has a 12 month low of $8.13 and a 12 month high of $14.63. The firm’s 50 day simple moving average is $9.73 and its 200-day simple moving average is $10.70.

Resources Connection (NASDAQ:RGP) last issued 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). Resources Connection had a return on equity of 3.69% and a net margin of 2.04%. The firm had revenue of $136.94 million for the quarter, compared to analyst estimates of $137.82 million. During the same period in the previous year, the business earned $0.14 EPS. Resources Connection’s revenue for the quarter was down 19.5% compared to the same quarter last year. Analysts anticipate that Resources Connection, Inc. will post 0.16 earnings per share for the current fiscal year.

Resources Connection Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 23rd were issued a $0.14 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $0.56 dividend on an annualized basis and a yield of 6.70%. Resources Connection’s payout ratio is currently 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.