Royce & Associates LP Has $13.50 Million Position in Resources Connection, Inc. (NASDAQ:RGP)

Royce & Associates LP boosted its holdings in Resources Connection, Inc. (NASDAQ:RGP - Free Report) by 9.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,063,619 shares of the company's stock after acquiring an additional 172,158 shares during the quarter. Royce & Associates LP owned about 6.24% of Resources Connection worth $13,496,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC raised its holdings in shares of Resources Connection by 3,712.9% in 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. Price T Rowe Associates Inc. MD increased its holdings in shares of Resources Connection by 17.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,249 shares of the company's stock valued at $105,000 after buying an additional 1,863 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Resources Connection during the 1st quarter worth $82,000. Quantinno Capital Management LP purchased a new stake in shares of Resources Connection during the fourth quarter valued at $116,000. Finally, Capital Investment Advisors LLC purchased a new stake in shares of Resources Connection during the first quarter valued at $90,000. 93.23% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. cut their price objective on Resources Connection from $9.50 to $5.00 and set an "underweight" rating on the stock in a report on Thursday, April 3rd.

Resources Connection Trading Up 9.9%

NASDAQ:RGP traded up $0.52 during trading hours on Friday, hitting $5.79. 508,279 shares of the stock traded hands, compared to its average volume of 246,697. The firm has a 50 day moving average price of $5.41 and a 200 day moving average price of $6.38. The firm has a market cap of $191.48 million, a price-to-earnings ratio of -0.99, a PEG ratio of 1.17 and a beta of 0.64. Resources Connection, Inc. has a fifty-two week low of $4.81 and a fifty-two week high of $12.19.

Resources Connection Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 21st. Shareholders of record on Monday, June 23rd were given a dividend of $0.07 per share. The ex-dividend date was Monday, June 23rd. This represents a $0.28 dividend on an annualized basis and a yield of 4.84%. Resources Connection's payout ratio is presently -8.54%.

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.