North Star Investment Management Corp. Boosts Stake in Resources Connection, Inc. $RGP

North Star Investment Management Corp. grew its holdings in Resources Connection, Inc. (NASDAQ:RGP) by 574.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 236,000 shares of the company’s stock after purchasing an additional 201,000 shares during the period. North Star Investment Management Corp. owned approximately 0.69% of Resources Connection worth $880,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of RGP. First Manhattan CO. LLC. acquired a new stake in shares of Resources Connection during the 4th quarter worth about $3,785,000. Kennedy Capital Management LLC acquired a new position in Resources Connection in the fourth quarter valued at about $3,002,000. Charles Schwab Investment Management Inc. boosted its stake in Resources Connection by 37.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,407,032 shares of the company’s stock worth $7,091,000 after buying an additional 380,769 shares during the period. Peapod Lane Capital LLC purchased a new position in Resources Connection during the fourth quarter worth about $1,809,000. Finally, Assenagon Asset Management S.A. purchased a new position in Resources Connection during the fourth quarter worth about $1,140,000. 93.23% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RGP has been the topic of a number of research analyst reports. Wall Street Zen raised shares of Resources Connection from a “sell” rating to a “hold” rating in a research note on Saturday, May 9th. Zacks Research raised shares of Resources Connection from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 9th. Finally, 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. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Resources Connection currently has a consensus rating of “Hold” and a consensus target price of $7.00.

Resources Connection Price Performance

Shares of NASDAQ:RGP opened at $4.37 on Tuesday. The firm has a market capitalization of $150.02 million, a PE ratio of -1.48 and a beta of 0.55. The firm’s 50-day moving average is $4.32 and its two-hundred day moving average is $4.27. Resources Connection, Inc. has a 1 year low of $3.06 and a 1 year high of $6.30.

Resources Connection (NASDAQ:RGP) last posted its quarterly earnings data on Wednesday, April 8th. The company reported ($0.09) EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $108.19 million. Analysts expect that Resources Connection, Inc. will post -0.29 EPS for the current fiscal year.

Resources Connection Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 19th. Shareholders of record on Thursday, May 21st were paid a $0.07 dividend. The ex-dividend date was Thursday, May 21st. This represents a $0.28 annualized dividend and a dividend yield of 6.4%. Resources Connection’s payout ratio is -9.46%.

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.