Resources Connection's (RGP) Sell (D-) Rating Reaffirmed at Weiss Ratings

Key Points

• Resources Connection (NASDAQ:RGP) has received a "sell (D-)" rating from Weiss Ratings, reiterating a negative outlook on the stock.
• The company's recent earnings report showed a loss of ($0.07) per share, surpassing analysts' estimates and revealing a quarterly revenue of $120.23 million.
• Institutional investors own over 93% of Resources Connection's stock, with significant increases in stakes reported from multiple hedge funds in recent quarters.

Resources Connection (NASDAQ:RGP - Get Free Report)'s stock had its "sell (d-)" rating reissued by analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

A number of other research analysts have also recently weighed in on RGP. Wall Street Zen upgraded Resources Connection from a "strong sell" rating to a "hold" rating in a report on Saturday, July 26th. Northcoast Research initiated coverage on Resources Connection in a report on Wednesday, September 24th. They issued a "buy" rating and a $7.00 target price on the stock. One analyst has rated the stock with a Buy rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Reduce" and a consensus target price of $6.00.

Resources Connection Stock Up 2.1%

RGP stock opened at $4.95 on Wednesday. Resources Connection has a 52-week low of $4.44 and a 52-week high of $9.96. The stock has a market capitalization of $165.18 million, a price-to-earnings ratio of -0.85, a price-to-earnings-growth ratio of 2.69 and a beta of 0.62. The stock's fifty day simple moving average is $4.96 and its 200-day simple moving average is $5.33.

Resources Connection (NASDAQ:RGP - Get Free Report) last issued its earnings results on Wednesday, October 8th. The company reported ($0.07) earnings per share for the quarter, beating analysts' consensus estimates of ($0.15) by $0.08. Resources Connection had a positive return on equity of 0.31% and a negative net margin of 34.78%.The firm had revenue of $120.23 million for the quarter, compared to analysts' expectations of $119.97 million.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its position 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 purchasing an additional 4,604 shares during the period. Strs Ohio purchased a new stake in shares of Resources Connection during the first quarter worth about $48,000. Nisa Investment Advisors LLC increased its position in shares of Resources Connection by 171.2% during the second quarter. Nisa Investment Advisors LLC now owns 8,466 shares of the company's stock worth $45,000 after acquiring an additional 5,344 shares during the last quarter. R Squared Ltd purchased a new stake in shares of Resources Connection during the second quarter worth about $57,000. Finally, PNC Financial Services Group Inc. increased its position in shares of Resources Connection by 398.6% during the second quarter. PNC Financial Services Group Inc. now owns 11,602 shares of the company's stock worth $62,000 after acquiring an additional 9,275 shares during the last quarter. 93.23% of the stock is owned by hedge funds and other institutional investors.

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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