Insider Selling: Resources Connection, Inc. (NASDAQ:RGP) CFO Sells $131,062.50 in Stock

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

Resources Connection Stock Up 0.9 %

Shares of NASDAQ:RGP opened at $11.71 on Friday. The company has a market cap of $392.99 million, a P/E ratio of 17.74, a P/E/G ratio of 1.17 and a beta of 0.67. The business has a fifty day simple moving average of $10.85 and a 200-day simple moving average of $12.02. Resources Connection, Inc. has a 52 week low of $9.70 and a 52 week high of $16.42.

Resources Connection (NASDAQ:RGP) last issued its quarterly 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 return on equity of 6.19% and a net margin of 3.32%. The firm had revenue of $148.20 million for the quarter, compared to analyst estimates of $140.59 million. During the same period last year, the company earned $0.39 EPS. The firm’s quarterly revenue was down 19.7% on a year-over-year basis. Sell-side analysts expect that Resources Connection, Inc. will post 0.67 earnings per share for the current fiscal year.

Resources Connection Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 23rd will be issued a $0.14 dividend. The ex-dividend date is Friday, August 23rd. This represents a $0.56 dividend on an annualized basis and a yield of 4.78%. Resources Connection’s payout ratio is 84.85%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RGP. JPMorgan Chase & Co. reduced their price objective on Resources Connection from $12.00 to $11.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 23rd. Noble Financial started coverage on shares of Resources Connection in a report on Wednesday, May 29th. They issued an “outperform” rating and a $15.00 target price on the stock. Robert W. Baird lowered their price target on shares of Resources Connection from $15.00 to $13.00 and set a “neutral” rating for the company in a report on Thursday, April 4th. Finally, StockNews.com lowered shares of Resources Connection from a “buy” rating to a “hold” rating in a research report on Saturday. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $13.00.

Hedge Funds Weigh In On Resources Connection

A number of large investors have recently bought and sold shares of RGP. Circumference Group LLC purchased a new stake in shares of Resources Connection during the 4th quarter valued at $6,376,000. Invenomic Capital Management LP purchased a new stake in Resources Connection during the first quarter valued at about $3,855,000. Horrell Capital Management Inc. increased its stake in Resources Connection by 45.6% during the first quarter. Horrell Capital Management Inc. now owns 655,000 shares of the company’s stock worth $8,620,000 after acquiring an additional 205,000 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its stake in Resources Connection by 53.5% during the first quarter. Jacobs Levy Equity Management Inc. now owns 394,820 shares of the company’s stock worth $5,196,000 after acquiring an additional 137,604 shares during the last quarter. Finally, Access Investment Management LLC raised its holdings in shares of Resources Connection by 18,060.8% in the 1st quarter. Access Investment Management LLC now owns 88,080 shares of the company’s stock worth $1,159,000 after purchasing an additional 87,595 shares during the period. Hedge funds and other institutional investors own 93.23% of the company’s stock.

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.