Pacific Ridge Capital Partners LLC Reduces Position in Resources Connection, Inc. (NASDAQ:RGP)

Pacific Ridge Capital Partners LLC reduced its holdings in Resources Connection, Inc. (NASDAQ:RGP) by 20.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 67,479 shares of the company’s stock after selling 17,455 shares during the period. Pacific Ridge Capital Partners LLC owned about 0.20% of Resources Connection worth $888,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in RGP. Dimensional Fund Advisors LP lifted its stake in shares of Resources Connection by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,538,985 shares of the company’s stock valued at $35,978,000 after purchasing an additional 25,885 shares during the period. Horrell Capital Management Inc. lifted its stake in shares of Resources Connection by 45.6% in the 1st quarter. Horrell Capital Management Inc. now owns 655,000 shares of the company’s stock valued at $8,620,000 after purchasing an additional 205,000 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Resources Connection by 5.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 564,530 shares of the company’s stock valued at $7,999,000 after purchasing an additional 29,253 shares during the period. Circumference Group LLC acquired a new position in shares of Resources Connection in the 4th quarter valued at $6,376,000. Finally, Franklin Resources Inc. lifted its stake in shares of Resources Connection by 6.8% in the 4th quarter. Franklin Resources Inc. now owns 219,060 shares of the company’s stock valued at $3,104,000 after purchasing an additional 13,977 shares during the period. 93.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on RGP shares. Robert W. Baird reduced their price objective on shares of Resources Connection from $15.00 to $13.00 and set a “neutral” rating for the company in a research report on Thursday, April 4th. Noble Financial started coverage on Resources Connection in a research report on Wednesday, May 29th. They issued an “outperform” rating and a $15.00 price target for the company. Finally, StockNews.com raised shares of Resources Connection from a “hold” rating to a “buy” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Resources Connection presently has an average rating of “Hold” and an average target price of $14.00.

Resources Connection Stock Performance

Shares of RGP traded up $0.58 during mid-day trading on Friday, hitting $11.20. 694,645 shares of the company’s stock were exchanged, compared to its average volume of 951,818. The company has a market cap of $378.67 million, a price-to-earnings ratio of 16.97, a P/E/G ratio of 1.03 and a beta of 0.67. Resources Connection, Inc. has a fifty-two week low of $9.70 and a fifty-two week high of $17.00. The stock’s 50-day moving average is $10.86 and its 200-day moving average is $12.09.

Resources Connection (NASDAQ:RGP) last issued its quarterly earnings results on Thursday, July 18th. The company reported $0.28 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.18. The business had revenue of $148.20 million for the quarter, compared to analysts’ expectations of $140.59 million. Resources Connection had a net margin of 3.32% and a return on equity of 6.20%. The business’s quarterly revenue was down 19.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.39 earnings per share. As a group, equities research analysts anticipate that Resources Connection, Inc. will post 0.69 EPS for the current year.

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.