North Star Investment Management Corp. Has $188,000 Holdings in Resources Connection, Inc. $RGP

Key Points

• North Star Investment Management Corp. reduced its holdings in Resources Connection, Inc. by 75.2%, now owning 35,000 shares worth approximately $188,000.
• Resources Connection announced a quarterly dividend of $0.07 per share, which will be paid on September 26th, leading to an annualized yield of 5.5%.
• Brokerages have recently upgraded Resources Connection, with Wall Street Zen changing its rating from "strong sell" to "hold" and Northcoast Research assigning a "buy" rating with a $7.00 price target.

North Star Investment Management Corp. cut its holdings in Resources Connection, Inc. (NASDAQ:RGP - Free Report) by 75.2% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 35,000 shares of the company's stock after selling 106,000 shares during the quarter. North Star Investment Management Corp. owned approximately 0.11% of Resources Connection worth $188,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. GAMMA Investing LLC boosted its stake in Resources Connection by 3,712.9% in the first quarter. GAMMA Investing LLC now owns 4,728 shares of the company's stock valued at $31,000 after buying an additional 4,604 shares in the last quarter. Strs Ohio acquired a new stake in shares of Resources Connection during the first quarter valued at about $48,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Resources Connection during the first quarter valued at about $82,000. Capital Investment Advisors LLC acquired a new stake in shares of Resources Connection during the first quarter valued at about $90,000. Finally, CWM LLC boosted its stake in shares of Resources Connection by 38.0% during the first quarter. CWM LLC now owns 15,243 shares of the company's stock valued at $100,000 after purchasing an additional 4,199 shares in the last quarter. 93.23% of the stock is owned by institutional investors and hedge funds.

Resources Connection Price Performance

Resources Connection stock opened at $5.05 on Friday. The stock's 50 day moving average is $5.01 and its 200 day moving average is $5.44. The firm has a market cap of $168.52 million, a P/E ratio of -0.87, a P/E/G ratio of 2.87 and a beta of 0.63. Resources Connection, Inc. has a one year low of $4.44 and a one year high of $9.96.

Resources Connection Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Investors of record on Friday, August 29th will be paid a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 5.5%. The ex-dividend date of this dividend is Friday, August 29th. Resources Connection's payout ratio is currently -4.81%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on RGP. Wall Street Zen raised Resources Connection from a "strong sell" rating to a "hold" rating in a research note on Saturday, July 26th. Northcoast Research began coverage on Resources Connection in a research note on Wednesday. They set a "buy" rating and a $7.00 price target on the stock. One investment analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $6.00.

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.

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