Empowered Funds LLC Boosts Position in Resources Connection, Inc. (NASDAQ:RGP)

Empowered Funds LLC grew its position in Resources Connection, Inc. (NASDAQ:RGP) by 5.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 158,430 shares of the company’s stock after buying an additional 8,040 shares during the quarter. Empowered Funds LLC’s holdings in Resources Connection were worth $1,537,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in RGP. Vanguard Group Inc. raised its holdings in shares of Resources Connection by 1.3% in the first quarter. Vanguard Group Inc. now owns 2,419,297 shares of the company’s stock worth $31,838,000 after acquiring an additional 30,393 shares during the last quarter. AQR Capital Management LLC raised its stake in Resources Connection by 18.8% in the 2nd quarter. AQR Capital Management LLC now owns 836,558 shares of the company’s stock valued at $9,236,000 after purchasing an additional 132,586 shares during the last quarter. Horrell Capital Management Inc. lifted its holdings in Resources Connection by 16.4% in the 3rd quarter. Horrell Capital Management Inc. now owns 815,000 shares of the company’s stock valued at $7,906,000 after purchasing an additional 115,000 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Resources Connection by 438.5% during the 2nd quarter. Millennium Management LLC now owns 537,743 shares of the company’s stock worth $5,937,000 after purchasing an additional 437,878 shares during the last quarter. Finally, Tieton Capital Management LLC purchased a new stake in shares of Resources Connection during the second quarter worth about $4,452,000. Institutional investors and hedge funds own 93.23% of the company’s stock.

Resources Connection Price Performance

RGP opened at $8.40 on Friday. Resources Connection, Inc. has a 12 month low of $7.90 and a 12 month high of $14.63. The business has a 50-day moving average of $8.74 and a two-hundred day moving average of $10.03. The stock has a market capitalization of $281.15 million, a price-to-earnings ratio of 23.33, a price-to-earnings-growth ratio of 3.34 and a beta of 0.67.

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

Resources Connection Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Friday, November 15th will be given a $0.14 dividend. This represents a $0.56 annualized dividend and a dividend yield of 6.67%. The ex-dividend date is Friday, November 15th. Resources Connection’s dividend payout ratio (DPR) is currently 155.56%.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered shares of Resources Connection from a “buy” rating to a “hold” rating in a research report on Saturday, July 27th.

Resources Connection 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.