Grandeur Peak Global Advisors LLC raised its holdings in shares of Resources Connection, Inc. (NASDAQ:RECN) by 16.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 208,700 shares of the business services provider’s stock after buying an additional 29,700 shares during the period. Grandeur Peak Global Advisors LLC owned about 0.67% of Resources Connection worth $3,224,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the business. MetLife Investment Advisors LLC purchased a new position in shares of Resources Connection during the fourth quarter valued at approximately $187,000. Municipal Employees Retirement System of Michigan boosted its position in shares of Resources Connection by 50.4% during the fourth quarter. Municipal Employees Retirement System of Michigan now owns 16,740 shares of the business services provider’s stock valued at $259,000 after buying an additional 5,610 shares during the period. Macquarie Group Ltd. boosted its position in shares of Resources Connection by 29.1% during the fourth quarter. Macquarie Group Ltd. now owns 18,808 shares of the business services provider’s stock valued at $291,000 after buying an additional 4,236 shares during the period. Greenhouse Funds LLLP purchased a new position in shares of Resources Connection during the fourth quarter valued at approximately $3,513,000. Finally, Two Sigma Investments LP boosted its position in shares of Resources Connection by 51.9% during the fourth quarter. Two Sigma Investments LP now owns 40,810 shares of the business services provider’s stock valued at $631,000 after buying an additional 13,939 shares during the period. Institutional investors and hedge funds own 80.94% of the company’s stock.
Shares of Resources Connection, Inc. (NASDAQ RECN) opened at $16.10 on Friday. The company has a quick ratio of 2.36, a current ratio of 2.36 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $519.25, a P/E ratio of 27.76 and a beta of 1.20. Resources Connection, Inc. has a twelve month low of $12.05 and a twelve month high of $17.10.
The company also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Investors of record on Thursday, February 15th were issued a $0.12 dividend. The ex-dividend date of this dividend was Wednesday, February 14th. This represents a $0.48 dividend on an annualized basis and a dividend yield of 2.98%. Resources Connection’s payout ratio is 82.76%.
Several research analysts have issued reports on the company. Zacks Investment Research upgraded Resources Connection from a “hold” rating to a “strong-buy” rating and set a $18.00 target price for the company in a research report on Wednesday, March 7th. BidaskClub upgraded Resources Connection from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, JPMorgan Chase & Co. lowered Resources Connection from a “neutral” rating to an “underweight” rating and set a $16.00 price target for the company. in a report on Thursday, January 4th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and one has issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $15.50.
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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.
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