Jennifer Y. Ryu Sells 11,650 Shares of Resources Connection, Inc. (NASDAQ:RGP) Stock

Resources Connection, Inc. (NASDAQ:RGP) CFO Jennifer Y. Ryu sold 11,650 shares of Resources Connection stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $11.25, for a total value of $131,062.50. Following the sale, the chief financial officer now directly owns 84,481 shares of the company’s stock, valued at approximately $950,411.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Resources Connection Trading Up 1.2 %

Shares of NASDAQ RGP traded up $0.14 during trading on Thursday, reaching $11.60. 521,741 shares of the company traded hands, compared to its average volume of 497,847. The firm’s fifty day simple moving average is $10.84 and its 200 day simple moving average is $12.04. The stock has a market cap of $392.16 million, a P/E ratio of 17.52, a PEG ratio of 1.07 and a beta of 0.67. Resources Connection, Inc. has a 12-month low of $9.70 and a 12-month high of $16.87.

Resources Connection (NASDAQ:RGP) last announced its quarterly earnings results on Thursday, July 18th. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.18. Resources Connection had a return on equity of 6.19% and a net margin of 3.32%. The firm had revenue of $148.20 million during the quarter, compared to analyst estimates of $140.59 million. During the same quarter in the previous year, the business earned $0.39 EPS. Resources Connection’s revenue for the quarter was down 19.7% compared to the same quarter last year. As a group, research analysts expect that Resources Connection, Inc. will post 0.69 EPS for the current year.

Hedge Funds Weigh In On Resources Connection

Institutional investors and hedge funds have recently modified their holdings of the business. Nisa Investment Advisors LLC increased its stake in Resources Connection by 66.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,554 shares of the company’s stock worth $28,000 after buying an additional 1,019 shares in the last quarter. CWM LLC increased its stake in Resources Connection by 883.5% during the 2nd quarter. CWM LLC now owns 3,393 shares of the company’s stock worth $37,000 after buying an additional 3,048 shares in the last quarter. Quarry LP purchased a new stake in Resources Connection during the 4th quarter worth approximately $39,000. Mather Group LLC. purchased a new stake in Resources Connection during the 2nd quarter worth approximately $44,000. Finally, Gladius Capital Management LP purchased a new stake in Resources Connection during the 4th quarter worth approximately $65,000. Hedge funds and other institutional investors own 93.23% of the company’s stock.

Wall Street Analysts Forecast Growth

RGP has been the subject of a number of research reports. Noble Financial initiated coverage on Resources Connection in a research report on Wednesday, May 29th. They set an “outperform” rating and a $15.00 price target for the company. Robert W. Baird reduced their price objective on Resources Connection from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, April 4th. JPMorgan Chase & Co. reduced their price objective on Resources Connection from $12.00 to $11.00 and set an “underweight” rating for the company in a research note on Tuesday. Finally, StockNews.com upgraded Resources Connection from a “hold” rating to a “buy” rating in a research note on Friday, July 19th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $13.00.

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.