Resources Connection (NASDAQ:RGP) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of Resources Connection (NASDAQ:RGP) from a hold rating to a sell rating in a report issued on Sunday morning,Wall Street Zen reports.

Separately, Weiss Ratings lowered Resources Connection from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, October 8th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Reduce”.

Resources Connection Trading Down 2.8%

NASDAQ:RGP opened at $2.73 on Friday. The firm has a market capitalization of $94.73 million, a PE ratio of -2.01 and a beta of 0.56. Resources Connection has a 1 year low of $2.68 and a 1 year high of $5.36. The firm’s fifty day simple moving average is $3.98 and its 200 day simple moving average is $4.15.

Resources Connection (NASDAQ:RGP) last released its earnings results on Wednesday, October 7th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.01. Resources Connection had a negative net margin of 10.74% and a negative return on equity of 8.10%. The firm had revenue of $98.09 million during the quarter, compared to analyst estimates of $99.98 million. As a group, analysts anticipate that Resources Connection will post -0.44 EPS for the current fiscal year.

Resources Connection Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Thursday, September 3rd were paid a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 10.3%. The ex-dividend date was Thursday, September 3rd. Resources Connection’s dividend payout ratio is presently -20.59%.

Institutional Trading of Resources Connection

A number of hedge funds have recently bought and sold shares of the stock. Tieton Capital Management LLC bought a new position in shares of Resources Connection during the 2nd quarter worth about $11,975,000. Circumference Group LLC increased its stake in Resources Connection by 7.8% during the fourth quarter. Circumference Group LLC now owns 1,389,243 shares of the company’s stock valued at $7,002,000 after acquiring an additional 100,000 shares during the period. Sei Investments Co. raised its holdings in Resources Connection by 111.5% in the 1st quarter. Sei Investments Co. now owns 1,329,568 shares of the company’s stock valued at $4,959,000 after acquiring an additional 700,943 shares in the last quarter. BlackRock Inc. acquired a new position in Resources Connection in the 2nd quarter valued at approximately $4,825,000. Finally, Renaissance Technologies LLC raised its holdings in Resources Connection by 10.7% in the 1st quarter. Renaissance Technologies LLC now owns 311,200 shares of the company’s stock valued at $1,161,000 after acquiring an additional 30,000 shares in the last quarter. 93.23% of the stock is owned by institutional investors.

About Resources Connection

Resources Connection, Inc (NASDAQ:RGP), operating under the RGP brand, is a global consulting services company that helps organizations manage business-critical initiatives and transformation projects. The company provides experienced consultants and project teams to support clients on a flexible, project-based basis.

RGP’s services cover areas including finance and accounting, technology, supply chain and procurement, human resources, legal and compliance, risk management, and business transformation.