Kennedy Capital Management LLC Sells 1,331 Shares of Resources Connection, Inc. (NASDAQ:RGP)

Kennedy Capital Management LLC cut its holdings in Resources Connection, Inc. (NASDAQ:RGP) by 1.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 92,348 shares of the company’s stock after selling 1,331 shares during the period. Kennedy Capital Management LLC owned 0.27% of Resources Connection worth $1,215,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Circumference Group LLC bought a new position in Resources Connection during the fourth quarter valued at about $6,376,000. 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 valued at $8,620,000 after acquiring an additional 205,000 shares during the period. Access Investment Management LLC increased its stake in Resources Connection by 18,060.8% during the first quarter. Access Investment Management LLC now owns 88,080 shares of the company’s stock valued at $1,159,000 after acquiring an additional 87,595 shares during the period. Clark Estates Inc. NY bought a new position in Resources Connection during the fourth quarter valued at about $1,020,000. Finally, Russell Investments Group Ltd. increased its stake in Resources Connection by 113.8% during the first quarter. Russell Investments Group Ltd. now owns 130,769 shares of the company’s stock valued at $1,721,000 after acquiring an additional 69,594 shares during the period. 93.23% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

RGP has been the topic of a number of recent research reports. Robert W. Baird decreased their price objective on Resources Connection from $15.00 to $13.00 and set a “neutral” rating on the stock in a report on Thursday, April 4th. JPMorgan Chase & Co. decreased their price objective on Resources Connection from $12.00 to $11.00 and set an “underweight” rating on the stock in a report on Tuesday, July 23rd. Noble Financial initiated coverage on Resources Connection in a report on Wednesday, May 29th. They set an “outperform” rating and a $15.00 price objective on the stock. Finally, StockNews.com downgraded Resources Connection from a “buy” rating to a “hold” rating in a report on Saturday, July 27th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Resources Connection has a consensus rating of “Hold” and an average price target of $13.00.

Resources Connection Price Performance

Shares of RGP opened at $11.93 on Thursday. The company has a market capitalization of $400.37 million, a P/E ratio of 18.08, a PEG ratio of 1.20 and a beta of 0.67. Resources Connection, Inc. has a one year low of $9.70 and a one year high of $16.35. The business’s 50 day simple moving average is $10.89 and its 200-day simple moving average is $11.99.

Resources Connection (NASDAQ:RGP) last posted its quarterly earnings data on Thursday, July 18th. The company reported $0.28 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.18. Resources Connection had a net margin of 3.32% and a return on equity of 6.19%. The firm had revenue of $148.20 million during the quarter, compared to analysts’ expectations of $140.59 million. During the same quarter in the previous year, the company posted $0.39 EPS. Resources Connection’s revenue was down 19.7% on a year-over-year basis. On average, sell-side analysts anticipate that Resources Connection, Inc. will post 0.67 EPS for the current fiscal year.

Resources Connection Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 23rd will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 4.69%. The ex-dividend date is Friday, August 23rd. Resources Connection’s dividend payout ratio (DPR) is presently 84.85%.

Insider Buying and Selling at Resources Connection

In other Resources Connection news, Director Roger D. Carlile bought 25,000 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was bought at an average price of $11.25 per share, for a total transaction of $281,250.00. Following the transaction, the director now owns 25,000 shares of the company’s stock, valued at approximately $281,250. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, Director Roger D. Carlile acquired 25,000 shares of the stock in a transaction that occurred on Monday, July 22nd. The stock was acquired 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 in the company, valued at $281,250. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jennifer Y. Ryu sold 11,650 shares of the company’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 sale, the chief financial officer now owns 84,481 shares of the company’s stock, valued at approximately $950,411.25. The disclosure for this sale can be found here. Corporate 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.