Access Investment Management LLC Acquires 25,180 Shares of Resources Connection, Inc. (NASDAQ:RGP)

Access Investment Management LLC increased its holdings in shares of Resources Connection, Inc. (NASDAQ:RGP) by 19.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 157,735 shares of the company’s stock after acquiring an additional 25,180 shares during the quarter. Access Investment Management LLC’s holdings in Resources Connection were worth $1,530,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Nisa Investment Advisors LLC increased its position in Resources Connection by 66.4% in the second 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 last quarter. CWM LLC lifted its position in shares of Resources Connection by 883.5% during the second quarter. CWM LLC now owns 3,393 shares of the company’s stock worth $37,000 after acquiring an additional 3,048 shares in the last quarter. Mather Group LLC. purchased a new position in shares of Resources Connection in the second quarter valued at $44,000. Point72 DIFC Ltd bought a new position in shares of Resources Connection in the second quarter valued at approximately $59,000. Finally, nVerses Capital LLC purchased a new position in shares of Resources Connection during the 3rd quarter valued at $60,000. Institutional investors own 93.23% of the company’s stock.

Resources Connection Price Performance

Shares of Resources Connection stock traded up $0.05 during trading on Monday, reaching $8.85. 12,893 shares of the stock traded hands, compared to its average volume of 455,131. The business has a fifty day simple moving average of $8.99 and a two-hundred day simple moving average of $10.18. Resources Connection, Inc. has a 52-week low of $7.90 and a 52-week high of $14.63. The company has a market capitalization of $296.22 million, a price-to-earnings ratio of 24.44, a P/E/G ratio of 3.56 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) 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 business 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 business earned $0.14 earnings per share. The business’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 earnings per share 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 given a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 6.33%. The ex-dividend date of this dividend is Friday, November 15th. Resources Connection’s dividend payout ratio (DPR) is presently 155.56%.

Wall Street Analysts Forecast Growth

RGP has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut their target price on Resources Connection from $12.00 to $11.00 and set an “underweight” rating on the stock in a research note on Tuesday, July 23rd. StockNews.com lowered Resources Connection from a “buy” rating to a “hold” rating in a research note on Saturday, July 27th.

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.