Resources Connection, Inc. (NASDAQ:RGP) Shares Acquired by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. increased its position in shares of Resources Connection, Inc. (NASDAQ:RGP) by 5.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 573,235 shares of the company’s stock after acquiring an additional 29,969 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in Resources Connection were worth $5,560,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Nisa Investment Advisors LLC lifted its position in shares of Resources Connection by 66.4% during 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 during the last quarter. CWM LLC boosted its position in shares of Resources Connection by 883.5% in the 2nd quarter. CWM LLC now owns 3,393 shares of the company’s stock valued at $37,000 after purchasing an additional 3,048 shares during the period. Mather Group LLC. purchased a new position in Resources Connection in the 2nd quarter worth about $44,000. Point72 DIFC Ltd purchased a new stake in Resources Connection during the second quarter valued at about $59,000. Finally, nVerses Capital LLC purchased a new stake in Resources Connection during the third quarter valued at about $60,000. 93.23% of the stock is currently owned by institutional investors.

Resources Connection Price Performance

Resources Connection stock opened at $8.57 on Friday. The company has a market cap of $286.85 million, a P/E ratio of 23.61, a price-to-earnings-growth ratio of 3.40 and a beta of 0.68. Resources Connection, Inc. has a fifty-two week low of $7.90 and a fifty-two week high of $14.63. The firm’s 50 day simple moving average is $8.48 and its 200-day simple moving average is $9.83.

Resources Connection (NASDAQ:RGP) last posted its quarterly earnings data 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 firm had revenue of $136.94 million for the quarter, compared to analysts’ expectations of $137.82 million. Resources Connection had a return on equity of 3.69% and a net margin of 2.04%. The company’s revenue for the quarter was down 19.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.14 earnings per share. On average, analysts expect that Resources Connection, Inc. will post 0.16 EPS for the current fiscal year.

Resources Connection Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 6.53%. The ex-dividend date of this dividend is Friday, November 15th. Resources Connection’s payout ratio is 155.56%.

Resources Connection 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.