Axa S.A. Raises Position in Resources Connection, Inc. (NASDAQ:RGP)

Axa S.A. increased its holdings in shares of Resources Connection, Inc. (NASDAQ:RGP) by 11.5% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 86,356 shares of the company’s stock after purchasing an additional 8,936 shares during the period. Axa S.A.’s holdings in Resources Connection were worth $953,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in RGP. Circumference Group LLC purchased a new position in shares of Resources Connection in the fourth quarter worth $6,376,000. Tieton Capital Management LLC purchased a new position in Resources Connection in the 2nd quarter worth $4,452,000. Invenomic Capital Management LP purchased a new position in Resources Connection in the 1st quarter worth $3,855,000. Cubist Systematic Strategies LLC lifted its position in Resources Connection by 72,156.5% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 187,867 shares of the company’s stock worth $2,074,000 after acquiring an additional 187,607 shares during the period. Finally, Jacobs Levy Equity Management Inc. grew its stake in Resources Connection by 53.5% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 394,820 shares of the company’s stock valued at $5,196,000 after purchasing an additional 137,604 shares during the last quarter. 93.23% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Resources Connection

In other news, CFO Jennifer Y. Ryu sold 11,650 shares of the stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $11.25, for a total transaction of $131,062.50. Following the sale, the chief financial officer now directly owns 84,481 shares of the company’s stock, valued at approximately $950,411.25. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Jennifer Y. Ryu sold 11,650 shares of the company’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $11.25, for a total transaction of $131,062.50. Following the completion of the transaction, the chief financial officer now owns 84,481 shares in the company, valued at approximately $950,411.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Roger D. Carlile purchased 25,000 shares of Resources Connection stock in a transaction that occurred on Monday, July 22nd. The shares were bought at an average price of $11.25 per share, with a total value of $281,250.00. Following the transaction, the director now owns 25,000 shares in the company, valued at $281,250. The disclosure for this purchase can be found here. Corporate insiders own 7.36% of the company’s stock.

Resources Connection Stock Down 2.4 %

Resources Connection stock opened at $9.47 on Wednesday. The business’s 50-day moving average price is $10.25 and its 200 day moving average price is $10.93. The firm has a market cap of $320.15 million, a price-to-earnings ratio of 14.35, a price-to-earnings-growth ratio of 1.42 and a beta of 0.65. Resources Connection, Inc. has a 52 week low of $9.26 and a 52 week high of $14.97.

Resources Connection (NASDAQ:RGP) last issued its quarterly earnings data on Thursday, July 18th. The company reported $0.28 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.18. Resources Connection had a net margin of 3.32% and a return on equity of 6.19%. The business had revenue of $148.20 million for the quarter, compared to analysts’ expectations of $140.59 million. During the same quarter last year, the company earned $0.39 EPS. The business’s revenue was down 19.7% on a year-over-year basis. Equities analysts expect that Resources Connection, Inc. will post 0.45 EPS for the current year.

Resources Connection Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 23rd were paid a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 5.91%. The ex-dividend date of this dividend was Friday, August 23rd. Resources Connection’s payout ratio is currently 84.85%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RGP. JPMorgan Chase & Co. reduced their price objective on Resources Connection from $12.00 to $11.00 and set an “underweight” rating for the company in a research note on Tuesday, July 23rd. StockNews.com cut shares of Resources Connection from a “buy” rating to a “hold” rating in a research note on Saturday, July 27th. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $13.00.

About Resources Connection

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.