Roger D. Carlile Purchases 25,000 Shares of Resources Connection, Inc. (NASDAQ:RGP) Stock

Resources Connection, Inc. (NASDAQ:RGP) Director Roger D. Carlile bought 25,000 shares of the stock in a transaction on Monday, July 22nd. The shares were acquired at an average cost of $11.25 per share, with a total value of $281,250.00. Following the purchase, the director now owns 25,000 shares of the company’s stock, valued at approximately $281,250. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Resources Connection Stock Performance

Shares of Resources Connection stock traded down $0.41 on Tuesday, hitting $11.04. The stock had a trading volume of 497,358 shares, compared to its average volume of 496,380. The stock has a 50 day moving average of $10.85 and a 200 day moving average of $12.05. Resources Connection, Inc. has a twelve month low of $9.70 and a twelve month high of $17.00. The firm has a market capitalization of $373.26 million, a P/E ratio of 16.65, a PEG ratio of 1.09 and a beta of 0.67.

Resources Connection (NASDAQ:RGP) last released its quarterly earnings data on Thursday, July 18th. The company reported $0.28 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.18. Resources Connection had a return on equity of 6.19% and a net margin of 3.32%. The company had revenue of $148.20 million during the quarter, compared to the consensus estimate of $140.59 million. During the same quarter in the prior year, the firm posted $0.39 earnings per share. The firm’s revenue was down 19.7% compared to the same quarter last year. Equities analysts expect that Resources Connection, Inc. will post 0.69 earnings per share for the current year.

Wall Street Analyst Weigh In

RGP has been the subject of several research analyst reports. Robert W. Baird lowered their target price on Resources Connection from $15.00 to $13.00 and set a “neutral” rating for the company in a research note on Thursday, April 4th. Noble Financial initiated coverage on Resources Connection in a research note on Wednesday, May 29th. They set an “outperform” rating and a $15.00 target price for the company. JPMorgan Chase & Co. lowered their target price on Resources Connection from $12.00 to $11.00 and set an “underweight” rating for the company in a research note on Tuesday. Finally, StockNews.com raised Resources Connection from a “hold” rating to a “buy” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $13.00.

Institutional Trading of Resources Connection

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Circumference Group LLC acquired a new stake in Resources Connection during the 4th quarter valued at approximately $6,376,000. Assenagon Asset Management S.A. boosted its holdings in shares of Resources Connection by 38.3% during the 4th quarter. Assenagon Asset Management S.A. now owns 194,389 shares of the company’s stock worth $2,754,000 after buying an additional 53,882 shares in the last quarter. Quest Partners LLC bought a new position in shares of Resources Connection during the 4th quarter worth approximately $307,000. Clark Estates Inc. NY bought a new position in shares of Resources Connection during the 4th quarter worth approximately $1,020,000. Finally, Prosperity Consulting Group LLC bought a new position in shares of Resources Connection during the 1st quarter worth approximately $366,000. Institutional investors and hedge funds own 93.23% of the company’s stock.

About Resources Connection

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.