Horrell Capital Management Inc. Grows Stake in Resources Connection, Inc. (NASDAQ:RGP)

Horrell Capital Management Inc. grew its holdings in shares of Resources Connection, Inc. (NASDAQ:RGP) by 16.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 815,000 shares of the company’s stock after buying an additional 115,000 shares during the period. Resources Connection accounts for about 2.4% of Horrell Capital Management Inc.’s investment portfolio, making the stock its 10th biggest holding. Horrell Capital Management Inc. owned 2.44% of Resources Connection worth $7,906,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ballentine Partners LLC bought a new stake in Resources Connection during the third quarter worth approximately $212,000. nVerses Capital LLC bought a new stake in Resources Connection during the third quarter worth approximately $60,000. Point72 DIFC Ltd bought a new stake in Resources Connection during the second quarter worth approximately $59,000. Brandes Investment Partners LP bought a new stake in Resources Connection during the second quarter worth approximately $2,590,000. Finally, Creative Planning acquired a new position in Resources Connection in the second quarter worth approximately $455,000. Institutional investors own 93.23% of the company’s stock.

Resources Connection Stock Down 1.1 %

Resources Connection stock traded down $0.09 during mid-day trading on Tuesday, hitting $8.22. The company’s stock had a trading volume of 45,584 shares, compared to its average volume of 461,902. Resources Connection, Inc. has a twelve month low of $8.13 and a twelve month high of $14.63. The stock has a market capitalization of $275.12 million, a P/E ratio of 22.83, a P/E/G ratio of 3.29 and a beta of 0.65. The stock’s fifty day moving average price is $9.32 and its two-hundred day moving average price is $10.36.

Resources Connection (NASDAQ:RGP) last posted its quarterly earnings data on Tuesday, October 1st. The company reported ($0.17) earnings per share for the quarter, missing the consensus estimate of $0.04 by ($0.21). Resources Connection had a return on equity of 3.69% and a net margin of 2.04%. The firm had revenue of $136.94 million for the quarter, compared to analysts’ expectations of $137.82 million. During the same quarter in the previous year, the firm posted $0.14 earnings per share. The company’s revenue for the quarter was down 19.5% on a year-over-year basis. Equities analysts expect that Resources Connection, Inc. will post 0.16 earnings per share for the current year.

Resources Connection Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Friday, November 15th will be given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 6.81%. The ex-dividend date of this dividend is Friday, November 15th. Resources Connection’s payout ratio is 155.56%.

Analyst Upgrades and Downgrades

RGP has been the topic of several recent research reports. StockNews.com lowered shares of Resources Connection from a “buy” rating to a “hold” rating in a research report on Saturday, July 27th. JPMorgan Chase & Co. decreased their price target on shares of Resources Connection from $12.00 to $11.00 and set an “underweight” rating on the stock in a research report on Tuesday, July 23rd.

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.