Resources Connection (NASDAQ:RGP) Downgraded by Wall Street Zen to "Sell"

Key Points

• Wall Street Zen downgraded Resources Connection (NASDAQ:RGP) from a "hold" to a "sell" rating.
• RGP reported quarterly EPS of ($0.09), missing the ($0.05) consensus by $0.04, with revenue slightly below estimates and a negative net margin of 20.16%.
• Shares opened at $3.62 (up 4.6%), the company has a market cap of about $121.3M, and institutional investors own roughly 93.23% of the stock.

Resources Connection (NASDAQ:RGP - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "hold" rating to a "sell" rating in a report released on Saturday.

Resources Connection Stock Up 4.6%

NASDAQ RGP opened at $3.62 on Friday. The company has a market capitalization of $121.27 million, a P/E ratio of -1.22 and a beta of 0.45. Resources Connection has a 12-month low of $3.06 and a 12-month high of $6.30. The firm has a 50-day moving average price of $3.79 and a two-hundred day moving average price of $4.43.

Resources Connection (NASDAQ:RGP - Get Free Report) last posted its quarterly earnings data on Wednesday, April 8th. The company reported ($0.09) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.04). Resources Connection had a negative net margin of 20.16% and a negative return on equity of 0.55%. The business had revenue of $107.93 million during the quarter, compared to the consensus estimate of $108.19 million.

Institutional Trading of Resources Connection

Several large investors have recently made changes to their positions in the company. Pacific Ridge Capital Partners LLC raised its stake in shares of Resources Connection by 4.7% during the fourth quarter. Pacific Ridge Capital Partners LLC now owns 52,320 shares of the company's stock valued at $264,000 after acquiring an additional 2,350 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of Resources Connection by 20.6% during the third quarter. Mackenzie Financial Corp now owns 21,134 shares of the company's stock valued at $107,000 after acquiring an additional 3,607 shares during the last quarter. Certior Financial Group LLC raised its stake in shares of Resources Connection by 30.2% during the fourth quarter. Certior Financial Group LLC now owns 17,289 shares of the company's stock valued at $87,000 after acquiring an additional 4,008 shares during the last quarter. Strs Ohio raised its stake in shares of Resources Connection by 57.5% during the third quarter. Strs Ohio now owns 11,500 shares of the company's stock valued at $58,000 after acquiring an additional 4,200 shares during the last quarter. Finally, Corient Private Wealth LLC raised its stake in shares of Resources Connection by 19.7% during the fourth quarter. Corient Private Wealth LLC now owns 30,231 shares of the company's stock valued at $152,000 after acquiring an additional 4,969 shares during the last quarter. Institutional investors and hedge funds own 93.23% of the company's stock.

Resources Connection Company 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.

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