Tieton Capital Management LLC Takes $4.45 Million Position in Resources Connection, Inc. (NASDAQ:RGP)

Tieton Capital Management LLC acquired a new stake in Resources Connection, Inc. (NASDAQ:RGP) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 403,250 shares of the company’s stock, valued at approximately $4,452,000. Resources Connection makes up 2.5% of Tieton Capital Management LLC’s investment portfolio, making the stock its 21st largest holding.

Several other large investors have also recently added to or reduced their stakes in RGP. Nisa Investment Advisors LLC grew its stake in shares of Resources Connection by 66.4% in 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. CWM LLC raised its stake in shares of Resources Connection by 883.5% in the second quarter. CWM LLC now owns 3,393 shares of the company’s stock valued at $37,000 after acquiring an additional 3,048 shares in the last quarter. Quarry LP purchased a new position in Resources Connection in the fourth quarter valued at $39,000. Mather Group LLC. acquired a new position in Resources Connection during the 2nd quarter worth $44,000. Finally, Allspring Global Investments Holdings LLC increased its holdings in Resources Connection by 972.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 8,504 shares of the company’s stock worth $112,000 after purchasing an additional 7,711 shares during the period. 93.23% of the stock is owned by hedge funds and other institutional investors.

Resources Connection Stock Down 0.4 %

RGP opened at $9.97 on Tuesday. Resources Connection, Inc. has a 52 week low of $9.44 and a 52 week high of $15.44. The business’s 50 day moving average is $10.45 and its two-hundred day moving average is $11.24. The firm has a market cap of $333.70 million, a price-to-earnings ratio of 15.11, a price-to-earnings-growth ratio of 0.99 and a beta of 0.65.

Resources Connection (NASDAQ:RGP) last announced its earnings results on Thursday, July 18th. The company reported $0.28 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.18. Resources Connection had a net margin of 3.32% and a return on equity of 6.19%. The business had revenue of $148.20 million for the quarter, compared to analyst estimates of $140.59 million. During the same period last year, the firm posted $0.39 earnings per share. The company’s revenue for the quarter was down 19.7% compared to the same quarter last year. Equities analysts expect that Resources Connection, Inc. will post 0.67 EPS for the current fiscal year.

Resources Connection Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, August 23rd will be issued a $0.14 dividend. The ex-dividend date of this dividend is Friday, August 23rd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 5.62%. Resources Connection’s payout ratio is 84.85%.

Wall Street Analyst Weigh In

RGP has been the subject of several recent research reports. Noble Financial initiated coverage on Resources Connection in a research note on Wednesday, May 29th. They issued an “outperform” rating and a $15.00 price objective for the company. JPMorgan Chase & Co. decreased their price target on shares of Resources Connection from $12.00 to $11.00 and set an “underweight” rating for the company in a research note on Tuesday, July 23rd. Finally, StockNews.com downgraded shares of Resources Connection from a “buy” rating to a “hold” rating in a research report on Saturday, July 27th. One analyst has rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $13.00.

Insider Transactions at Resources Connection

In related news, Director Roger D. Carlile purchased 25,000 shares of the company’s stock in a transaction that occurred on Monday, July 22nd. The shares were purchased at an average price of $11.25 per share, for a total transaction of $281,250.00. Following the transaction, the director now directly owns 25,000 shares of the company’s stock, valued at approximately $281,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Roger D. Carlile acquired 25,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The shares were purchased at an average cost of $11.25 per share, for a total transaction of $281,250.00. Following the transaction, the director now directly owns 25,000 shares in the company, valued at approximately $281,250. The acquisition 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 the business’s stock in a transaction on Wednesday, July 24th. The shares were sold at an average price of $11.25, for a total transaction of $131,062.50. Following the completion of the transaction, the chief financial officer now directly owns 84,481 shares in the company, valued at $950,411.25. The disclosure for this sale can be found here. Insiders own 7.36% of the company’s stock.

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.