Invenomic Capital Management LP Has $5.16 Million Position in Resources Connection, Inc. $RGP

Key Points

• Invenomic Capital Management LP increased its stake in Resources Connection, Inc. by 30.5%, now holding approximately 2.39% of the company with around 788,952 shares.
• The company announced a quarterly dividend of $0.07 per share, representing a 5.6% yield, with the dividend payout ratio currently at -4.81%.
• Resources Connection's stock has seen a decline of 1.4%, with a current market price of $5.00 and analyst ratings averaging "Sell" with a target price of $5.00.

Invenomic Capital Management LP boosted its holdings in Resources Connection, Inc. (NASDAQ:RGP - Free Report) by 30.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 788,952 shares of the company's stock after buying an additional 184,335 shares during the period. Invenomic Capital Management LP owned approximately 2.39% of Resources Connection worth $5,160,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of Resources Connection by 3,712.9% during the 1st quarter. GAMMA Investing LLC now owns 4,728 shares of the company's stock worth $31,000 after purchasing an additional 4,604 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Resources Connection during the 1st quarter worth approximately $82,000. Capital Investment Advisors LLC acquired a new stake in shares of Resources Connection during the 1st quarter worth approximately $90,000. CWM LLC grew its holdings in shares of Resources Connection by 38.0% during the 1st quarter. CWM LLC now owns 15,243 shares of the company's stock worth $100,000 after purchasing an additional 4,199 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Resources Connection by 17.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,249 shares of the company's stock worth $105,000 after purchasing an additional 1,863 shares in the last quarter. Institutional investors and hedge funds own 93.23% of the company's stock.

Resources Connection Trading Up 3.0%

RGP stock traded up $0.15 during trading on Monday, hitting $5.15. The company had a trading volume of 242,905 shares, compared to its average volume of 250,665. The company has a fifty day moving average price of $5.15 and a two-hundred day moving average price of $5.60. The company has a market cap of $171.86 million, a P/E ratio of -0.88, a P/E/G ratio of 2.78 and a beta of 0.63. Resources Connection, Inc. has a fifty-two week low of $4.44 and a fifty-two week high of $10.27.

Resources Connection Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 26th. Shareholders of record on Friday, August 29th will be paid a $0.07 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $0.28 dividend on an annualized basis and a yield of 5.4%. Resources Connection's payout ratio is currently -4.81%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Resources Connection from a "strong sell" rating to a "hold" rating in a report on Saturday, July 26th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Resources Connection has a consensus rating of "Sell" and an average price target of $5.00.

Resources Connection 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.