Resources Connection, Inc. (NASDAQ:RGP) Shares Sold by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd trimmed its stake in Resources Connection, Inc. (NASDAQ:RGP) by 25.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 86,982 shares of the company’s stock after selling 30,438 shares during the quarter. Y Intercept Hong Kong Ltd owned approximately 0.26% of Resources Connection worth $844,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of RGP. Nisa Investment Advisors LLC boosted its holdings in shares of Resources Connection by 66.4% during the second quarter. Nisa Investment Advisors LLC now owns 2,554 shares of the company’s stock worth $28,000 after purchasing an additional 1,019 shares during the period. Atria Investments Inc boosted its stake in shares of Resources Connection by 9.6% during the 3rd quarter. Atria Investments Inc now owns 17,723 shares of the company’s stock valued at $172,000 after buying an additional 1,547 shares during the period. Victory Capital Management Inc. grew its holdings in shares of Resources Connection by 13.8% during the 2nd quarter. Victory Capital Management Inc. now owns 13,623 shares of the company’s stock valued at $150,000 after acquiring an additional 1,649 shares in the last quarter. Point72 DIFC Ltd increased its stake in shares of Resources Connection by 32.5% in the third quarter. Point72 DIFC Ltd now owns 7,074 shares of the company’s stock worth $69,000 after acquiring an additional 1,735 shares during the last quarter. Finally, CWM LLC raised its holdings 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. 93.23% of the stock is owned by institutional investors and hedge funds.

Resources Connection Price Performance

Shares of Resources Connection stock opened at $8.61 on Friday. The firm has a market cap of $288.19 million, a price-to-earnings ratio of 23.92, a P/E/G ratio of 3.56 and a beta of 0.68. The stock has a 50-day simple moving average of $8.45 and a 200-day simple moving average of $9.73. Resources Connection, Inc. has a 52-week low of $7.90 and a 52-week high of $14.63.

Resources Connection (NASDAQ:RGP) last posted its earnings results on Tuesday, October 1st. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $137.82 million. During the same quarter last year, the business earned $0.14 earnings per share. Resources Connection’s quarterly revenue was down 19.5% on a year-over-year basis. As a group, equities research analysts predict that Resources Connection, Inc. will post 0.16 earnings per share for the current year.

Resources Connection Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a yield of 6.50%. The ex-dividend date is Friday, November 15th. Resources Connection’s dividend payout ratio is currently 155.56%.

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.