Resources Connection, Inc. (NASDAQ:RGP) Shares Purchased by Circumference Group LLC

Circumference Group LLC raised its holdings in shares of Resources Connection, Inc. (NASDAQ:RGP) by 16.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 815,000 shares of the company’s stock after purchasing an additional 115,000 shares during the period. Resources Connection accounts for approximately 8.2% of Circumference Group LLC’s holdings, making the stock its biggest holding. Circumference Group LLC owned about 2.43% of Resources Connection worth $7,906,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Nisa Investment Advisors LLC grew 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 worth $28,000 after buying an additional 1,019 shares during the period. CWM LLC increased its stake in 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 purchasing an additional 3,048 shares in the last quarter. Mather Group LLC. acquired a new stake in Resources Connection in the second quarter worth $44,000. Point72 DIFC Ltd bought a new position in shares of Resources Connection during the second quarter worth $59,000. Finally, nVerses Capital LLC acquired a new position in shares of Resources Connection in the 3rd quarter valued at $60,000. Institutional investors own 93.23% of the company’s stock.

Resources Connection Stock Performance

Shares of Resources Connection stock opened at $8.44 on Monday. The stock’s fifty day simple moving average is $8.56 and its 200 day simple moving average is $9.89. The company has a market capitalization of $282.50 million, a PE ratio of 23.44, a PEG ratio of 3.41 and a beta of 0.67. Resources Connection, Inc. has a 12 month low of $7.90 and a 12 month high of $14.63.

Resources Connection (NASDAQ:RGP) last announced its quarterly earnings results on Tuesday, October 1st. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.21). Resources Connection had a net margin of 2.04% and a return on equity of 3.69%. The company had revenue of $136.94 million during the quarter, compared to the consensus estimate of $137.82 million. During the same period in the previous year, the firm posted $0.14 EPS. The business’s quarterly revenue was down 19.5% compared to the same quarter last year. Analysts predict that Resources Connection, Inc. will post 0.16 EPS for the current fiscal year.

Resources Connection Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be paid a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 6.64%. The ex-dividend date is Friday, November 15th. Resources Connection’s payout ratio is 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.