Arizona State Retirement System Continues to Hold Position in Resources Connection, Inc. (RECN)

Arizona State Retirement System held its position in shares of Resources Connection, Inc. (NASDAQ:RECN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,495 shares of the business services provider’s stock at the close of the second quarter. Arizona State Retirement System owned 0.05% of Resources Connection worth $212,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RECN. Morgan Stanley increased its position in Resources Connection by 27.2% during the 1st quarter. Morgan Stanley now owns 389,642 shares of the business services provider’s stock worth $6,527,000 after purchasing an additional 83,386 shares during the period. Fisher Asset Management LLC increased its position in Resources Connection by 40.9% during the 2nd quarter. Fisher Asset Management LLC now owns 188,942 shares of the business services provider’s stock worth $2,589,000 after purchasing an additional 54,863 shares during the period. Ameriprise Financial Inc. increased its position in Resources Connection by 14.2% during the 1st quarter. Ameriprise Financial Inc. now owns 328,960 shares of the business services provider’s stock worth $5,510,000 after purchasing an additional 40,976 shares during the period. KBC Group NV acquired a new position in Resources Connection during the 1st quarter worth approximately $646,000. Finally, Citadel Advisors LLC increased its position in Resources Connection by 60.8% during the 1st quarter. Citadel Advisors LLC now owns 98,192 shares of the business services provider’s stock worth $1,644,000 after purchasing an additional 37,137 shares during the period. Institutional investors own 82.19% of the company’s stock.

Shares of Resources Connection, Inc. (NASDAQ RECN) opened at 12.60 on Wednesday. The company has a 50 day moving average price of $12.75 and a 200-day moving average price of $13.98. Resources Connection, Inc. has a 12-month low of $12.05 and a 12-month high of $19.80. The firm has a market cap of $376.32 million, a PE ratio of 22.50 and a beta of 1.21.

Resources Connection (NASDAQ:RECN) last released its quarterly earnings results on Thursday, July 20th. The business services provider reported $0.20 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.22 by ($0.02). The business had revenue of $148.60 million for the quarter, compared to the consensus estimate of $148.46 million. Resources Connection had a net margin of 3.20% and a return on equity of 8.08%. The business’s quarterly revenue was down 2.6% on a year-over-year basis. During the same period last year, the firm posted $0.23 EPS. Analysts expect that Resources Connection, Inc. will post $0.70 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 21st. Stockholders of record on Thursday, August 24th will be issued a dividend of $0.12 per share. This represents a $0.48 dividend on an annualized basis and a dividend yield of 3.81%. The ex-dividend date is Tuesday, August 22nd. This is a boost from Resources Connection’s previous quarterly dividend of $0.11. Resources Connection’s payout ratio is 87.27%.

WARNING: This piece of content was originally reported by Ticker Report and is the sole property of of Ticker Report. If you are reading this piece of content on another site, it was illegally stolen and republished in violation of US and international copyright legislation. The correct version of this piece of content can be read at https://www.tickerreport.com/banking-finance/2887837/arizona-state-retirement-system-continues-to-hold-position-in-resources-connection-inc-recn.html.

Several equities analysts have issued reports on RECN shares. TheStreet cut Resources Connection from a “b-” rating to a “c+” rating in a research report on Friday, May 26th. Robert W. Baird reiterated a “hold” rating and set a $15.00 target price on shares of Resources Connection in a research report on Friday, August 25th. Zacks Investment Research upgraded Resources Connection from a “strong sell” rating to a “hold” rating in a research report on Wednesday, June 7th. BidaskClub cut Resources Connection from a “hold” rating to a “sell” rating in a research report on Monday, July 31st. Finally, Deutsche Bank AG dropped their target price on Resources Connection from $14.00 to $12.00 and set a “sell” rating on the stock in a research report on Friday, July 21st. Three analysts have rated the stock with a sell rating and two have assigned a hold rating to the company. The company currently has an average rating of “Sell” and an average target price of $15.33.

Resources Connection Company Profile

Resources Connection, Inc is a multinational consulting firm. The Company’s operating entities primarily provide services under the name Resources Global Professionals (RGP). The Company provides consulting and business initiative support services to its global client base in the areas of accounting; finance; corporate governance, risk and compliance (GRC) management; corporate advisory, strategic communications and restructuring; information management; human capital; supply chain management, and legal and regulatory.

Institutional Ownership by Quarter for Resources Connection (NASDAQ:RECN)

Receive News & Ratings for Resources Connection Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Resources Connection Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2017 Ticker Report. Google+.