Resources Connection, Inc. $RGP Stock Holdings Lessened by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors cut its Resources Connection stake by 23.1% in the first quarter, selling 298,160 shares and retaining 994,169 shares worth about $3.7 million. Institutional investors collectively own 93.23% of RGP.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and a $7.00 price target. Recent actions included downgrades from Wall Street Zen and upgrades from Zacks Research.
• RGP shares opened at $4.17, while the company reported a quarterly loss of $0.07 per share on $106.11 million in revenue. Resources Connection also declared a quarterly dividend of $0.07, implying a 6.7% annualized yield.

Dimensional Fund Advisors LP lessened its stake in shares of Resources Connection, Inc. (NASDAQ:RGP - Free Report) by 23.1% in the first quarter, according to its most recent filing with the SEC. The fund owned 994,169 shares of the company's stock after selling 298,160 shares during the period. Dimensional Fund Advisors LP owned about 2.90% of Resources Connection worth $3,708,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of RGP. Eurizon Capital SGR S.p.A. acquired a new stake in shares of Resources Connection during the fourth quarter worth $31,000. Intesa Sanpaolo Wealth Management purchased a new stake in shares of Resources Connection during the fourth quarter valued at $33,000. DGS Capital Management LLC acquired a new position in shares of Resources Connection in the 1st quarter valued at $44,000. Strs Ohio acquired a new position in shares of Resources Connection in the 1st quarter valued at $48,000. Finally, Quarry LP increased its stake in Resources Connection by 4,995.7% in the 3rd quarter. Quarry LP now owns 9,529 shares of the company's stock worth $48,000 after purchasing an additional 9,342 shares in the last quarter. 93.23% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on RGP. Wall Street Zen lowered shares of Resources Connection from a "hold" rating to a "sell" rating in a research note on Saturday, August 1st. Weiss Ratings raised shares of Resources Connection from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Monday, June 15th. Finally, Zacks Research upgraded shares of Resources Connection from a "strong sell" rating to a "hold" rating in a report on Tuesday, June 9th. Two research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $7.00.

Resources Connection Trading Down 0.2%

Shares of RGP stock opened at $4.17 on Thursday. The company has a market capitalization of $143.61 million, a price-to-earnings ratio of -3.47 and a beta of 0.54. Resources Connection, Inc. has a 1-year low of $3.06 and a 1-year high of $5.55. The stock's fifty day simple moving average is $4.38 and its 200-day simple moving average is $4.14.

Resources Connection (NASDAQ:RGP - Get Free Report) last announced its quarterly earnings data on Wednesday, July 22nd. The company reported ($0.07) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.08) by $0.01. Resources Connection had a negative return on equity of 4.63% and a negative net margin of 8.98%.The firm had revenue of $106.11 million during the quarter, compared to the consensus estimate of $106.76 million. On average, sell-side analysts predict that Resources Connection, Inc. will post -0.44 EPS for the current year.

Resources Connection Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Thursday, September 3rd will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 6.7%. The ex-dividend date of this dividend is Thursday, September 3rd. Resources Connection's dividend payout ratio is -23.33%.

Resources Connection Profile

Resources Connection, Inc NASDAQ: RGP is a publicly traded professional services firm that specializes in providing independent consulting and project-based teams to help organizations manage critical business challenges. Operating under the RGP brand, the company connects highly skilled consultants with clients seeking support in areas such as finance and accounting, legal and risk management, supply chain optimization, technology implementation, and digital transformation.

RGP's consultants bring specific industry and functional expertise to engagements, working on a flexible basis that allows clients to scale resources up or down as needed.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source