Royce & Associates LP Sells 16,249 Shares of Resources Connection, Inc. (NASDAQ:RGP)

Royce & Associates LP lessened its position in Resources Connection, Inc. (NASDAQ:RGP) by 0.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,897,569 shares of the company’s stock after selling 16,249 shares during the quarter. Royce & Associates LP owned 5.67% of Resources Connection worth $18,406,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in RGP. Nisa Investment Advisors LLC lifted its holdings in 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 buying an additional 1,019 shares in the last quarter. CWM LLC lifted its holdings in Resources Connection by 883.5% during the 2nd quarter. CWM LLC now owns 3,393 shares of the company’s stock valued at $37,000 after buying an additional 3,048 shares in the last quarter. Mather Group LLC. bought a new stake in Resources Connection during the 2nd quarter valued at about $44,000. Point72 DIFC Ltd bought a new stake in Resources Connection during the 2nd quarter valued at about $59,000. Finally, nVerses Capital LLC bought a new stake in Resources Connection during the 3rd quarter valued at about $60,000. 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 analyst reports. StockNews.com lowered shares of Resources Connection from a “buy” rating to a “hold” rating in a report on Saturday, July 27th. JPMorgan Chase & Co. reduced their price target 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.

Resources Connection Stock Performance

NASDAQ:RGP opened at $8.34 on Friday. The firm has a 50-day simple moving average of $8.86 and a 200-day simple moving average of $10.11. Resources Connection, Inc. has a one year low of $7.90 and a one year high of $14.63. The firm has a market cap of $279.15 million, a P/E ratio of 23.17, a P/E/G ratio of 3.54 and a beta of 0.67.

Resources Connection (NASDAQ:RGP) last issued its quarterly earnings data on Tuesday, October 1st. The company reported ($0.17) earnings per share (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 during the quarter, compared to analysts’ expectations of $137.82 million. During the same period in the previous year, the firm earned $0.14 EPS. The firm’s quarterly revenue was down 19.5% on a year-over-year basis. On average, research analysts predict that Resources Connection, Inc. will post 0.16 EPS for the current fiscal year.

Resources Connection Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Friday, November 15th will be given a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 6.71%. The ex-dividend date is Friday, November 15th. Resources Connection’s payout ratio is currently 155.56%.

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.