Resources Connection, Inc. (NASDAQ:RGP) Shares Sold by Prosperity Consulting Group LLC

VaselineSeptember 16, 2024

0 4 minutes read

Prosperity Consulting Group LLC reduced its holdings in shares of Resources Connection, Inc. (NASDAQ:RGP – Free Report) by 33.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,477 shares of the company’s stock after selling 9,352 shares during the period. Prosperity Consulting Group LLC owned 0.05% of Resources Connection worth $204,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have recently bought and sold shares of the company. Nisa Investment Advisors LLC grew its position in 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 in the last quarter . TD Asset Management Inc raised its holdings in Resources Connection by 1.4% during the fourth quarter. TD Asset Management Inc now owns 89,400 shares of the company’s stock worth $1,267,000 after purchasing an additional 1,200 shares during the last quarter. Victory Capital Management Inc. raised its position in Resources Connection by 13.8% in the second quarter. Victory Capital Management Inc. now owns 13,623 shares of the company’s stock valued at $150,000 after purchasing an additional 1,649 shares during the period. Harbor Capital Advisors Inc. boosted its holdings in Resources Connection by 15.4% in the second quarter. Harbor Capital Advisors Inc. now owns 15,595 shares of the company’s stock valued at $172,000 after buying an additional 2,083 shares in the last quarter. Finally, Empirical Financial Services LLC dba Empirical Wealth Management grew its position in Resources Connection by 16.5% in the first quarter. Empirical Financial Services LLC dba Empirical Wealth Management now owns 16,573 shares of the company’s stock worth $218,000 after purchasing an additional 2,353 shares during the period. 93.23% of shares are held by hedge funds and other institutional investors.

Insider Buying and Selling at Resources Connection

In related news, Director Roger D. Carlile purchased 25,000 shares of the business’s stock in a transaction dated Monday, July 22nd. The shares were bought at an average cost of $11.25 per share, with a total value of $281,250.00. Following the completion of the acquisition, 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 SEC, which can be accessed through the SEC website. In related news, 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 transaction of $131,062.50. Following the transaction, the chief financial officer now owns 84,481 shares of the company’s stock, valued at $950,411.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible via this link. Also, Director Roger D. Carlile bought 25,000 shares of the stock in a transaction on Monday, July 22nd. The shares were purchased at an average cost of $11.25 per share, with a total value of $281,250.00. Following the completion of the purchase, the director now directly owns 25,000 shares in the company, valued at approximately $281,250. Disclosure for this purchase can be found here. 7.36% of shares are owned by insiders.

Stock Performance Connection Resources

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Resources Connection stock opened at $10.01 on Monday. The firm has a market cap of $335.03 million, a price-to-earnings ratio of 15.17, a price-to-earnings-growth ratio of 0.99 and a beta of 0.65. Resources Connection, Inc. it has a fifty-two week low of $9.44 and a fifty-two week high of $15.44. The stock’s fifty day moving average is $10.46, and the two hundred day moving average is $11.26.

Resources Connection (NASDAQ:RGP – Get Your Free Report ) last posted its earnings results 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 the consensus estimate of $140.59 million. During the same period last year, the firm posted EPS of $0.39. The company’s revenue for the quarter was down 19.7% year-over-year. As a group, sell-side analysts forecast that Resources Connection, Inc. will post 0.67 EPS for the current fiscal year.

Resources Connection announces dividend

The company also recently announced 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 dividend of $0.56 on an annualized basis and a yield of 5.59%. The ex-dividend date of this dividend is Friday, August 23. Resources Connection’s payout ratio is currently 84.85%.

Changes in Analyst Ratings

A number of analysts recently weighed in on RGP shares. StockNews.com downgraded Resources Connection from a “buy” rating to a “hold” rating in a research note on Saturday, July 27th. JPMorgan Chase & Co. decreased their target price on shares of Resources Connection from $12.00 to $11.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 23rd. Finally, Noble Financial began coverage on shares of Resources Connection in a report on Wednesday, May 29th. They issued an “outperform” rating and a $15.00 price target for the company. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. Resources Connection has a consensus rating of “Hold” and an average price target of $13.00, according to MarketBeat.com.

Read our latest resource connection analysis

About Resources Connection

(Free report)

Resources Connection, Inc provides consulting services to business clients under the name Resources Global Professionals in North America, Europe and Asia Pacific. The company provides services in the areas of transactions, including integration and divestitures, bankruptcy/restructuring, public training 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.