Assenagon Asset Management S.A. Has $172,000 Stake in Resources Connection, Inc. (NASDAQ:RGP)

Assenagon Asset Management S.A. cut its position in Resources Connection, Inc. (NASDAQ:RGP) by 54.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,690 shares of the company’s stock after selling 21,252 shares during the quarter. Assenagon Asset Management S.A. owned 0.05% of Resources Connection worth $172,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Nisa Investment Advisors LLC lifted its position in shares of Resources Connection by 66.4% during the 2nd quarter. Nisa Investment Advisors LLC now owns 2,554 shares of the company’s stock worth $28,000 after buying an additional 1,019 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Resources Connection by 13.8% in the second quarter. Victory Capital Management Inc. now owns 13,623 shares of the company’s stock worth $150,000 after acquiring an additional 1,649 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of Resources Connection by 15.4% in the 2nd quarter. Harbor Capital Advisors Inc. now owns 15,595 shares of the company’s stock valued at $172,000 after purchasing an additional 2,083 shares in the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in shares of Resources Connection by 16.5% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 16,573 shares of the company’s stock valued at $218,000 after purchasing an additional 2,353 shares during the last quarter. Finally, CWM LLC increased its position in Resources Connection by 883.5% during the 2nd quarter. CWM LLC now owns 3,393 shares of the company’s stock worth $37,000 after purchasing an additional 3,048 shares in the last quarter. 93.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RGP has been the topic of a number of research analyst reports. StockNews.com lowered shares of Resources Connection from a “buy” rating to a “hold” rating in a research report on Saturday, July 27th. JPMorgan Chase & Co. dropped their price target 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.

Resources Connection Price Performance

Resources Connection stock opened at $7.96 on Monday. The business has a 50 day moving average of $9.16 and a 200-day moving average of $10.27. The company has a market capitalization of $266.43 million, a P/E ratio of 22.11, a P/E/G ratio of 3.25 and a beta of 0.67. Resources Connection, Inc. has a 1 year low of $7.91 and a 1 year high of $14.63.

Resources Connection (NASDAQ:RGP) last announced its quarterly earnings results on Tuesday, October 1st. The company reported ($0.17) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.04 by ($0.21). The business had revenue of $136.94 million during the quarter, compared to analyst estimates of $137.82 million. Resources Connection had a net margin of 2.04% and a return on equity of 3.69%. The company’s revenue was down 19.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.14 earnings per share. Equities analysts anticipate that Resources Connection, Inc. will post 0.16 EPS for the current year.

Resources Connection Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 7.04%. The ex-dividend date of this dividend is Friday, November 15th. Resources Connection’s payout ratio is presently 155.56%.

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.