Resources Connection, Inc. (NASDAQ:RGP) Shares Sold by Dimensional Fund Advisors LP

Dimensional Fund Advisors LP lessened its position in shares of Resources Connection, Inc. (NASDAQ:RGP) by 13.2% during the second quarter, HoldingsChannel reports. The institutional investor owned 2,159,041 shares of the company’s stock after selling 329,580 shares during the quarter. Dimensional Fund Advisors LP owned about 0.06% of Resources Connection worth $23,836,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of RGP. Russell Investments Group Ltd. lifted its holdings in Resources Connection by 113.8% in the first quarter. Russell Investments Group Ltd. now owns 130,769 shares of the company’s stock worth $1,721,000 after purchasing an additional 69,594 shares during the period. Jacobs Levy Equity Management Inc. grew its position 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 worth $5,196,000 after purchasing an additional 137,604 shares in the last quarter. Prosperity Consulting Group LLC purchased a new stake in Resources Connection in the 1st quarter worth about $366,000. Boston Partners purchased a new position in Resources Connection during the first quarter valued at approximately $175,000. Finally, Vanguard Group Inc. increased its stake in Resources Connection by 1.3% in the 1st quarter. Vanguard Group Inc. now owns 2,419,297 shares of the company’s stock valued at $31,838,000 after buying an additional 30,393 shares during the period. 93.23% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

RGP has been the subject of a number of research reports. JPMorgan Chase & Co. decreased their target price on shares of 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 downgraded Resources Connection from a “buy” rating to a “hold” rating in a report on Saturday, July 27th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $13.00.

Insider Buying and Selling

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

Resources Connection Price Performance

Resources Connection stock opened at $8.36 on Friday. The company has a market capitalization of $282.63 million, a price-to-earnings ratio of 12.67, a PEG ratio of 1.42 and a beta of 0.65. The company’s fifty day moving average price is $10.12 and its two-hundred day moving average price is $10.89. Resources Connection, Inc. has a one year low of $8.17 and a one year high of $14.72.

Resources Connection (NASDAQ:RGP) last announced its quarterly earnings results on Tuesday, October 1st. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.21). Resources Connection had a net margin of 3.32% and a return on equity of 6.19%. The company had revenue of $136.94 million for the quarter, compared to analyst estimates of $137.82 million. During the same quarter last year, the business earned $0.14 EPS. The company’s revenue for the quarter was down 19.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Resources Connection, Inc. will post 0.45 earnings per share for the current year.

Resources Connection Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 23rd were given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 6.70%. The ex-dividend date was Friday, August 23rd. Resources Connection’s dividend payout ratio is currently 84.85%.

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.